It cannot be denied that the holiday season is likely our most expensive season. With all of the extra gift-giving and parties, our budgets can easily become overwhelmed if we are not intentional in approaching the holidays with them in mind. Here are some ways you can save some money during this special time of the year.
Set a budget
Setting and committing to a budget is key (and the first step you should take!) when saving money during the holiday season. Make a list and stick to it. Obvious things to consider are gifts and food for parties or potlucks, but don’t forget to budget travel expenses or decor as well!
Consider wrapping alternatives
Yes, the trendiest and cutest wrapping paper is adorable, but consider cheaper alternatives. My personal favorite is plain brown wrapping paper that costs a fraction of what the shiny wraps in the store cost, plus is recyclable and highly customizable and versatile! It’s kind of like a good closet staple you can dress up or dress down. (I love this brand from Amazon)
Consider secret santa
Is your family on the larger side? Even if it’s not, why not suggest Secret Santa for your gift exchange this year? Set a monetary limit for everyone, and draw names to determine who you gift to. This way, you don’t have to get everyone a gift, everyone will still get one, and that number will get a nice line in your budget.
Practical or Homemade gifts
Make sure you gift practical gifts - not gifts that will be thrown out after you leave. Practical sounds so unromantic and unfun, but if you make sure you get your recipient something they will love and appreciate, you’ll have the peace of mind knowing your money was spent well. You could also opt for a homemade gift that can add a special feel to the recipient.
Related: An Aspiring Minimalist’s Guide to Gifts
Decorate simply
No need to go crazy with decor during the holiday season. Sometimes, less is more. Decorate creatively, using what you already have, DIY-ing things, or bringing the outdoors in.
Choose inexpensive traditions
There really is no need for crazy expensive traditions for the holidays if you are trying to save those dollars. Some of my favorite family traditions are inexpensive, like baking cookies, driving around to see light displays, or reading books by the fire...the list goes on!
Don’t be fooled by “sales”
Sometimes sale prices are not actually great sale prices at all. Don’t be afraid to do some comparison shopping and price watching. One store’s sale price might be a larger amount than another’s. Pro tip: the sooner you know you will purchase something, the sooner you can start price watching too!
Start saving early in the year
The earlier you start saving for the holidays, the more you’ll have once the time comes around. So start saving early! One way to do this is to have a set amount to put aside each month that you will be able to use come November.
Just Say No
Learn to be selective. You do not have to go to every single holiday potluck, gift exchange party, or cookie swap you are invited to.
Cut back on nonessentials
When you know there will be extra expenses, you may want to cut back on nonessentials like your daily latte or that cute little do-dad you just haaaave to buy. The one that will probably be collecting dust in a few weeks anyway.
Use rebate apps or websites
Take advantage of rebate apps and websites that can help you save extra cash on items. I use these all year for groceries and other purchases, and the extra money I save goes towards the holidays anyway!
How do you save money during the holiday season?
