You’ll have a much more relaxing and enjoyable end-of-year when you equip yourself with money saving tips for the holidays. Money saving tips for the holidays can be found on the internet, in newspapers, and in magazines and it is worth your while to find out all you can. Don’t let economic recessions spoil this special time of year and learn some money saving tips for the holidays. Here are a few.

Stop trying to buy everyone’s approval. This is one of the money saving tips for the holidays where you’ll be glad you went through the discipline required to implement it. Unfortunately, in many families there is an attitude of materialism that rules. Many will think they have good relations with other family members only to find out how ugly relatives can be when you don’t have the cash or credit cards to splurge on them. Give yourself a break and realize that buying approval through gift giving is futile and you set yourself up for disappointment. Be nice about it but you’ll find that this one in the group of money saving tips for the holidays will show you who you really have strong relationships with.

Set price limits on spending. This is one of the money saving tips for the holidays that is budget-friendly. Budgets love fixed expenses. You can count all the members of your family and extended family who you typically exchange gifts with and put a limit on how much to spend for each ($5, $10, etc.). The amount depends on your budget. Where this really works as one of the great money saving tips for the holidays is where you get everyone else in your extended family to agree to that amount as well.

Have holiday get-togethers and bring food but don’t be so formal. This is one of the money saving tips for the holidays that can actually save you a bundle. Don’t have lavish dinner parties. Have pot-luck get-togethers where everyone brings their favorite family dish and comes in their jeans. If anyone wants beer or wine, tell them to bring their own. This is a time to relax and having these casual occasions can be quite fun.

Don’t buy plane tickets at the last minute for holiday travel. This is one of the money saving tips for the holidays that many times gets overlooked and family reunions are missed because of the travel expense. If you are planning to have all family together for the holidays, get those plane tickets as soon as you can. Some purchase their tickets as early as August to make sure they can afford it.

Maximize on end-of-year clearances. This is one of the money saving tips for the holidays that stores don’t advertise much as they would rather make their profits before the holidays. The fact is that retail businesses try to clear out their inventories as much as possible in order to close the books for the end of the year. Also, retail businesses have goals to get their stock levels down as low as possible because it is easier to take inventory counts at the beginning of the New Year. The bottom line is that prices are lower and you can take advantage of them.

The two words mean a millionth part. When we speak of microeconomics we mean a mall part of whole economy that we are analyzing or in microeconomics we analyze the units e.g., a firm, a consumer or an industry. In other words we study a general price level instead we discuss price of a particular commodity. While studying rewards of factors of production, savings, investment, income, employment, demand and supply and not the aggregate savings, investment, national income, general employment, aggregate demand and aggregate supply.

While Studying micro economics it is assumed that there is full employment in the economy and average price level is fixed and hence, the problem left with us is what to produce, how to produce, how much to produce and for whom to produce.
Following problems are discussed and studied in microeconomics:

1. Consumption Theory:
We study the behavior of the consumers i.e., why people purchase consumer goods, what is their aim both in utility and indifference curve analysis.

2- Production Theory:
In production theory we discuss how goods and services are produces and how factors of production are combined together. What is the cost of production and how it can be minimized?

3- Price Theory:
Problems of determination of prices of goods and services are studied in price theory. The effects of price mechanism, affects the allocation of resource, consumption pattern, investment direction, choice of method of production etc.

4- Distribution Theory:
In Distribution Theory we study pricing of factors of production, Determination of rent, wages, profits and interest i.e., how rewards of factors of production are distributed in an industrial unit.

Merits of Microeconomics:
Following are the merits of study of microeconomics

(i)- Individual Decisions:
Microeconomics is helpful for analyzing individual decision making unit e.g. households and firms.

(ii)- Rational Choices:
Study of microeconomics is useful for making rational decisions regarding maximization of satisfaction by consumer and maximization of profits by the producers.

(iii). Helps in Understanding Macro Economics:

Macroeconomics is nothing but the addition of individual behavior as a society is composed of individual, macroeconomics is composed of microeconomics. Therefore, study of microeconomics means study of macroeconomics as a whole.

Demerits of Micro Economics:

1. In free economy there are always problems of depression, over production and price fluctuations, so there is no stability in economy and there problems are not studied at micro level

2. Some results are beneficial at individual level but are worse at national level e.g.
• Increase in profits due to increase in price is treated good for producer but general increase in price level produces inflation in economy which is harmful.

• A producer can increase its profit by reduction in wage rate but if wage cut policy is adopted in the country it decreases the purchasing power, which in turn will decrease the demand for investment and creates unemployment.

• Increase in Personal savings looks good, but if major portion of income saved is not further invested it brings depression. Increase in monetary savings is not beneficial because it will not bring economic development.

• Increase in consumption at individual level is not treated good but if consumption expenditure decrease beyond a certain level in the economy rate of investment goes down and therefore, unemployment increases in an economy