Saving money during the holidays is hard. Between the gift giving, holiday parties and winter activities, things add up fast. These 10 genius ways to save money during the holidays will help you from going broke this Christmas.
Plan ahead
Make a list of all those you need to shop for and write down the amount of money you feel comfortable spending on each person. This will help give you an overview with how much money you should budget so you don’t go overboard and spend more than you wanted.
Budget and start saving money early
Christmas Day is the exact same day every.single.year. Shocking, right? So, it really shouldn’t comes as a surprise to anyone when the holiday shopping season starts to approach. If you know you want to treat your mom to a new KitchenAid mixer she’s been eyeing, start saving now. Instead of buying that $5 coffee on your way to work a few days a week, take the money and put it an a special envelope just for your Christmas shopping. The earlier you start, the more money you’ll have saved.
Don’t feel like you need a new outfit for every holiday gathering
One work party, two family parties, dinner party with friends, etc. The list of holiday get togethers goes on. And no, you don’t need a new outfit for each of them. You don’t even need one. Chances are you already have something in your closet that you’ve worn in years past. Save your money and wear something you already own. You may know you’re being an outfit repeater, but no one else will (nor will they care).
Pay attention to sales
Nowadays, Black Friday and Cyber Monday deals are made public weeks in advance. Take advantage of this and do your research. Find out which stores have the best deals so you can check off everything on your list while getting the most bang for your buck.
Consider homemade gifts
If you’re really trying to get by on a budget, homemade gifts are a great option. Think about your talents and put them to use! Maybe you’re an amazing artist or talented baker. Even if you’re not a pro, whipping up some Christmas cookies and gifting them in a cute tin is a great gift anyone would appreciate.
Give the gift of your time
It’s not all about a nicely wrapped present with pretty bow. Spending quality times with those who mean the most to you is priceless. Bake with your grandparents, have a game night with your parents or have a movie night with your siblings. These moments will mean way more than a random gift you spent too much money on.
You can also volunteer your time as well. Maybe your grandma could use a hand cleaning her house or your sister could use a night off from watching her kids. Think of what could be the biggest help to your loved ones and give them a hand. Not only will you be doing them a favor, but you’ll be doing yourself a favor by saving money.
Opt for a secret santa or grab bag
If you have a large family or a big friend group, it can be financially draining to purchase a gift for everyone. Fun gift exchanges are one of the most genius ways to save money during the holidays because you don’t have to buy a gift for everyone.
Suggest doing a secret santa where each person draws a name and shops for a gift for just that one person. Or, suggest going a grab bag where everyone brings a gift and you all take turns choosing a gift while they are still wrapped. Don’t forget to give everyone a budget to stick to so no one buys an extravagant while someone else shops at the dollar store.
Get cash back
If you plan on making even just one purchase online this holiday season, it’s worth signing up for something like Rakuten. Basically, when using Rakuten you get a percentage back from your purchases from qualifying stores. Stores include Target, Kohls, Macy’s, Ulta, American Eagle and so much more. I’ve seen cashback offers from 1% up to 60% so it varies. However, if you are making the purchase anyways, any little percentage back can help. If you don’t have an account already, you can sign up with my referral link. It doesn’t cost a thing to sign up and there are no gimmicks or nonsense. You just make your purchases as normal and start earning cashback.
Enjoy free Activities
Ice skating in the city, seeing the Nutcracker, and going to a cooking class to bake Christmas cookies are all such fun ways to get in the holiday spirit – but at a cost. Save money and consider doing free activities like driving around the neighborhood to look at lights or have a Hallmark Christmas movie marathon with friends. Also, checkout what’s going on in your local community. A lot of times they offer free activities for you to take part in.
Stop thinking the best gifts are the most expensive
Say it with me, the best gifts don’t have to cost the most. Sure it’d be nice to spoil your loved one with an expensive gift you know they’d go crazy over. But, if your bank account can’t handle it, don’t sweat it. There are plenty affordable gift ideas out there for everyone.
Now that you have these 10 genius ways to save money during the holidays, start searching for the perfect gifts…affordable gifts that is! This budget friendly holiday gift guide has 100 gift ideas that anyone would love.
Budgeting and enjoying free actvites are great tips. I find that just spending time with family and relaxing can be very relaxing and fulfilling. The best gifts are those that are thoughtful – they don’t have to be expensive.
I agree! Spending time with friends and family, especially around the holidays, is priceless.
My dads side of the family is big so we do a secret Santa and it saves SO MUCH MONEY! (And time)
Yes! Secret Santa is the way to go! And you are so right about it being a timesaver.
The gift of time is definitely my love language. I’d prefer that over gifts that can be bought anytime.
Time spent with the ones you love is priceless!