Welcoming friends and family as guests in your home is one of the joys of the holidays. Until you see how much money you could be spending on all the extra food, household supplies and activities. This U.S. News article from Tiffany Aliche offers advice on how to plan for holiday guests in your home, and how to avoid extra or unexpected expenses.
As children, we all look forward to large holiday family gatherings with tons of food and drinks. But, as you get older, you realize just how stressful and expensive it is to host family from out-of-town.
Since you want everyone to eat well and be merry, it’s easy to get carried away and overspend. Fortunately, if you follow these tips, you can manage a tight budget this holiday and still host a memorable family get-together.
Create a holiday itinerary. It’s often unplanned activities, like an impromptu trip to the movies, that drain your bank account when family comes to visit. You’ll save big this holiday if you can limit surprise expenses. Schedule your holiday itinerary out play-by-play. For instance, plan meals for each day to avoid eating out. If you do want to take your guests out for a special meal, scope out one or two affordable restaurants beforehand. Then let your family choose from restaurants you already know are in your budget. You can also plan fun activities for each day they visit. Even if you don’t follow your itinerary, you’ll have budget-friendly activities to fall back on throughout the holiday to entertain your guests.
Prune your holiday dinner menu. Choose your menu wisely to cut costs and make less complicated dishes with affordable ingredients that can feed a large group of people. Of course, main courses like turkey and ham are where you can get the most bang for your buck. You can usually find good deals at the supermarket on both types of meats, since they’re holiday staples.
Budget for every expense. We all know it’s easy to go overboard during the holiday. But the last thing you want to do is overextend yourself and start the new year with credit card debt. To avoid overspending, always head to the store with a budget and a list of everything you need for the holiday – and not just food. Make room in your budget for tableware, decor, wine, beer and even toiletries for your family members staying over.
Trim the guest list. Be realistic after creating your holiday budget. You may not be able to accommodate a relative you haven’t seen in years, and it’s OK to say no. If you don’t have the funds for a huge dinner, be straightforward with your guests. Let them know you’re having an intimate affair for close family and a few friends. Sending out personalized invitations is an easy way to tell guests that your holiday party is invite-only without offending anyone.
