6 Ways to Save Money During The Holiday Season
Updated: Oct 9, 2022
The holidays are one of the most exciting and joyful times of the year! What might not be so exciting, though, is the cost of gifts, traveling expenses, and hosting parties. While it can be a lot of fun planning your holiday celebrations and getting the perfect gifts for your friends and family, you want to figure out how much you can spend, and what your budget is for this upcoming holiday season
To help you get through this stressful time, I’ll be talking about some smart money-saving tips you can use this holiday season!
1. Create a Budget and Stick to it
I know first-hand how difficult this can be, but setting a budget over the holiday season is one of the best ways to cut back costs. While it’s tempting to go with more expensive gifts and decorations, you’ll thank yourself later by sticking to your budget.
Whether you are getting presents, food, festive decor, or other holiday items, know how much you can spend during this time. You can even create a budget on an excel document or on a piece of paper. Layout your expenses for the month and see how much money you have to spend for the holidays.
Set your budget, then make sure to stick to this budget. If you think that you will be spending more this year on presents and other holiday items, try cutting back on unnecessary expenses. It’s fine to treat yourself. I know I like to go out to dinner or splurge on an outfit or two, but during the holidays you want to spend a little bit less to save money!
2. Stick to Your List
Shopping for presents tends to be one of the most stressful parts of the holiday for me. Not only do you have to purchase presents for your friends and family, but you have to find gifts that fit within your budget. This can be tough, especially if you are planning on buying electronics or other in-demand items for your kids this year.
If getting the perfect holiday gift is important to you, I suggest making a list before you go out shopping. Write down who you are buying gifts for, then list the gifts and the price of the gifts next to the person's name.
Look online to check out prices and see what is available at stores. Then start to add up the cost of all your gifts. By doing this, you can make sure you stay within your budget while still getting everything that you want this holiday season. All you have to do is stick to your list!
3. If You Have a Large Family, Consider Drawing Names
If you have a large family, then you know just how difficult it can be to get gifts during the holidays for everyone. I love gifting, but with a large family, the price tag can be a bit much even for me. If you have a large extended family like myself, I suggest drawing names.
This is similar to doing a secret Santa. Set a price limit, then put everyone's name in a bag. Each person draws a name and buys a gift for one person. I suggest setting a price limit to help you stay within budget.
This is great because you only have to worry about getting gifts for specific people in your family. You can still give gifts to your kids and partner but for your extended family drawing names can be convenient and cost-saving.
4. Take Advantage of Holiday Sales
You definitely want to take advantage of holiday sales this year. There are tons of savings for gifts and other holiday items. Be on the lookout for them online and when you go out shopping. Also, consider using websites with free shipping.
Certain websites will offer free shipping if you spend a certain amount during certain dates. On December 14th, you can get free shipping on hundreds of websites. Look at this link here for more information!
5. Make Meaningful Homemade Gifts From The Heart
Sometimes, the best gifts come from the heart. If you are looking to save money, but still want to give your friends and family meaningful gifts, I recommend making some homemade gifts this holiday season. You’ll still have to spend a little money, but you will have some major savings with gifts that you make yourself.
There are tons of options that you can go with. I know I love making baked goods and putting together gift baskets with essentials I know my loved ones need. If you need a few more ideas, look at this list below. I’ll link some great recipes and do-it-yourself gifts here:
Baked goods (holiday cookies, brownies, pies, cakes, etc.)
Handcrafted holiday decorations (bells, wreaths, snow globes, etc.)
There are many other options you can go with over the holidays to save money, but these are just a few fun ideas I suggest trying out!
6. Consider Shopping The Day After Christmas for Next Year's Gifts
You can save money in advance by shopping for gifts the day after Christmas. There’s no better time to get affordable gifts and keep your holiday spending down for next year. Many retailers and local stores will have sales directly after Christmas.
I love doing a little bit of shopping after days, and even weeks, of planning holiday events for my family. De-stress and save money at the same time by doing holiday shopping while there are major sales.
Spending time with my family during the holiday season is one of the highlights of my year. From all our festive traditions to the excitement that comes with making memories with the people I love, there is no better time to be merry.
If you’re like me and worry about overspending and planning things out, you might have holiday anxiety. I know it can be a real hassle trying to get everything in order during this busy time. Hopefully my money saving tips helped a little.