That included gifts for our immediate family of four, eight extended family members, a couple of friends, and even our dogs(!). It also included some incidentals like wrapping paper and Christmas cards.
I don’t share a lot of specific personal financial information on this blog, but I share this amount with you so you’ll understand how totally floored I was when I discovered The Saved Quarter’s $100 Holiday Challenge.
The Saved Quarter is a blog run by the anonymous blogger who goes by Penny Saver. Last year Penny was able to pull off Christmas for her family with a $100 budget for gifts.
How does she do it? By using free and cheap methods of getting gifts. She earns free Amazon gift cards (as do I) through Swagbucks. She makes use of Groupon deals. And she mystery shops, among other things.
You can see how she did it in 2010 here. In fact she didn’t even need $100. Her total was $68.75.
I’m not ready to take on the challenge, and $100 definitely wouldn’t work for me. Still, I can see the value in stretching yourself and having a goal. What if I budgeted $1000 for Christmas in 2011 and pocketed the $377 I save? Surely that’s do-able.
Reading about Penny Saver’s $100 Christmas makes me want to redouble my efforts to have a more frugal Christmas this year. And in it would seem that there’s no time like now to get started, since planning ahead seems to be a big component to Penny’s success.
Christmas is a little more than five months away. Are you planning ahead? Could you pull off the $100 Christmas?
This post is part of Frugal Fridays @ Life As a Mom.