Saving This Holiday Season
Tuesday Nov 14th, 2023
The upcoming holiday season is a magical time, filled with joy, family and festive cheer. It is a shame when the pressure to spend during this season can put a strain on your monthly expenses, and add unnecessary stress to your life. With gifts to buy, decorations to purchase, and parties to host, the spending can quickly add up, racking high amounts on your credit card bill. However, with a little planning, it is possible to enjoy the holiday season and all that it has to offer without breaking the bank. Today we are sharing 10 tips to help you save your hard-earned money, and put more happiness back into the holidays. Try them out and let us know what you think!
Set A Budget
Before you start your holiday preparations for the season to come, sit down and determine your budget for decorations, gifts, and hosting family and friends. Having a clear budget with set numbers in mind will help you make more conscious decisions while making purchases. As your spending starts to add up over the holidays, take a moment now and then to track your purchases to ensure you are staying on budget and can meet your goal.
Make A Gift List
Create a list of people you can buy gifts for this holiday season and decide on the amount you are willing to spend on each person according to your income. This will give you a better idea of your overall gift budget and prevent overspending while shopping. While buying gifts use the cash-only method. Withdraw the amount you can spend on gifts to avoid using your credit card and going over your spending limit.
Resist the urge to buy new decorations each year. Going into home goods stores this time of year makes buying new decor hard to resist, but try to be strong! Get creative and make your own holiday decorations. There are countless DIY ideas available online that use natural materials like citrus, cranberries, pinecones, foliage and springs of pine. You can also repurpose items you already have by giving them a festive touch, or simply decorate your home with Christmas decor you already own from years past.
Shop Sales and Discounts
Keep an eye out for sales and discounts both online and in-person while shopping for holiday gifts. Many stores offer Christmas sales and deals during this time of year. Take advantage of Black Friday and Cyber Monday for example this holiday season to maximize your savings and get the best price for the items you are looking for.
Holiday shopping online is a no-brainer! Not only is it convenient but you can compare prices at many different stores for the items you are looking for! Shopping for gifts early is your best bet when looking for door-crasher deals. Avoid impulse purchases by taking your time before adding to the cart and stick to your gift-buying plan by waiting for discount codes and free shipping options when possible.
Make DIY Gifts
Creating DIY or handmade gifts for your loved ones is a very thoughtful option when it comes to holiday gift-giving. Get creative and consider making crafts, home goods, self-care products or treats as personal and budget-friendly alternatives.
Thrift or Shop Local
If you are a fan of shopping second-hand, consider thrifting part of your gift for a loved one this year and give an item a second life while also saving money in the process. This is great for the planet and is cost-effective for you! Consider supporting small businesses in your area this season. They often have unique and handmade items at reasonable prices, and doing so will help boost the local economy in your community.
If you have a large extended family or group of friends, suggest organizing a Secret Santa or gift exchange. This way, everyone buys one gift for a specific person instead of buying for everyone individually. Whether you exchange presents, cookies or ugly Christmas sweaters, you will be cutting down on costs while still keeping the spirit of giving alive this holiday season!
Have Potluck Parties
Instead of hosting an elaborate dinner party for guests this holiday season, consider having a potluck-style get-together where everyone brings a dish to contribute and enjoy. This way, hosting is less of a financial burden personally and more fun as a group effort with lots of delicious dishes to try!
Homemade Food and Drinks
While hosting guests or contributing to a gathering consider making your treats or dishes homemade instead of bringing expensive store-bought options. Although doing so requires more time and effort spent, it will show your love for your guests or the recipient that you took the opportunity to make something delicious with your own hands, while also saving yourself a bundle!