Save money during the holidays and buy that dream house in the New Year

The holidays can put a dent in your savings especially if buying a home is on your wish list.  But there are several ways to cut expenditures so your monetary standing isn't melting in red ink by the New Year.  Here are some money saving options for your Holiday season:

• Instead of buying presents for each family member, how about a gift exchange from names drawn out of a hat.
• Commit to a spending limit for gifts, then stick to it.
• Holiday meals as potlucks with assigned dishes for each guest to bring.
• Avoid overspending when shopping during the Holidays by using cash, leaving credit cards at home.
• How about joint gift purchases rather than separate gifts for each person on your list.  Memberships or group gifts for an entire family work well.
• Rather than the more costly Holiday wrap, use monochromatic wrapping that can be used year round, purchasing Holiday colors, green, gold, red or white and accent with bright ribbon.
• For younger children, a goodly portion of the fun of the Holiday is just the surprise of opening gifts.  Wrapping small or inexpensive items individually - for example, coloring books, crayons and picture books or novels, even stocking stuffers work well.  Recycling hand-me-down toys by wrapping the colorfully and using them under the tree.
• Rather than spending a lot of money on gifts from the mall, gifting homemade treats like fudge, truffles, cookies or jams and jellies.
• Reduce postage and holiday card costs by sending cards only to out-of-town friends and family you're not likely to see throughout the year.  Sending e-cards is a nice alternative, and often at no cost.
• Keeping the electric bill down is easier through use of a timer to turn lights on and off at designated times.
• If you can't or won't be able to pay off your credit card immediately, using just one one low interest card will help you to keep track of your purchases.
• Lower your Holiday travel costs by flying on the day of the actual holiday (Thanksgiving Day, Christmas Day). Generally this is cheaper and there are plenty of seats.
• Sign up for e-newsletters from your favorite online merchants. They'll often e-mail coupons to use for savings on purchases and shipping costs. Subscribers often receive private sale information.
• Buying an item online is sometimes cheaper than going to the store since many sites don't charge sales tax and offer free shipping to boot. Use the savings to have the gift mailed directly to the recipient instead of shipping expense.
• You can avoid buying an expensive gift by making a charitable donation to cause in a friend's or family member's name.