Holiday Savings: A Guide on How to Save Money and Cherish Holiday Memories

Loren Trujillo |

As the holiday season approaches, joy and memories approach, but so does spending money and keeping track of your finances. Although your finances may be difficult and stressful to deal with, it doesn’t have to be. Here’s how to make the most out of this holiday season without breaking the bank. 

Start Early With a Holiday Budget

Starting the year early with a holiday budget is a great way to help with your finances when the holiday season comes up. Some things you can do to start your holiday budget for the year are,

  • Assess your financial situation (are you looking to spend a lot of money during the holidays or have a more affordable plan?)
  • Create categories like holiday meals, presents, and travel
  • Use a spreadsheet or a budgeting app to track holiday expenses 

Some benefits that also come with starting early with a holiday budget are

  • Not waiting until the last minute to know what to need/want to buy (procrastination can lead to overspending when trying to buy everything last minute)
  • Know exactly how much you can afford to spend during the holiday season

Doing Budget-Friendly Swaps

Swapping things here and there during the holiday season is a great way to save money, and some examples of this are

  • Doing a potluck instead of cooking/baking everything yourself
  • Doing Secret Santa/white elephant with friends and family instead of buying everybody a present
  • Doing low-cost experiences like a movie night instead of traveling somewhere for the holidays

Looking for Discounts and Sales

Another good way on how to save money is by looking for discounts and sales, some examples of this are

  • Black Friday shopping, when gifts are discounted at a good price
  • Shopping online during Cyber Monday
  • Looking online for coupons and using an app that will find deals for you online, depending on what you’re looking for

Final Thought

Although holidays can be expensive, the main focus during the holiday season should be the time spent with family and the memories made during that time. With these tips and tricks, you can dedicate your time to family instead of dedicating your time to stressing over your finances for the holiday season.