Sleigh your holiday spending: 12 tips for a budget-friendly season

The holiday season is upon us, and with all the festive cheer can come some not-so-jolly expenses. Don’t let spending snowball out of control! From decking the halls on a budget to making a list (and checking it twice), these 12 tips will help you save some “jingle” while still spreading cheer.

• Set a budget: Before the holiday season kicks into high gear, set a budget for gifts, travel, food, and other expenses. According to the National Retail Federation, Americans are projected to spend an average of $902 on holiday-related purchases this year. Having a clear plan will help you avoid impulse buys and prevent post-holiday debt.

• Make a gift list: Avoid last-minute shopping splurges by making a gift list early and sticking to it. This way, you can focus on thoughtful gifts without the temptation to splurge. Check off items as you purchase them to stay organized.

• Take advantage of sales: Hunt for holiday deals and clip those coupons for extra savings. Explore thrift stores for one-of-a-kind gifts, and be sure to sign up for emails from your favorite retailers to stay updated on sales and exclusive offers.

• DIY gifts: Homemade gifts add a personal touch and can save you money. Whether it’s baking a batch of cookies, crafting handmade ornaments, or knitting a scarf, DIY gifts can be even more meaningful than store-bought ones. The gift of time is just as special. Offer to babysit, do yard work, run errands, or cook a meal. Show your loved ones you care in a thoughtful, personal way without spending money

• Consider Secret Santa: For large families or friend groups, try a Secret Santa or gift exchange. Each person buys just one special gift, making it a more personal celebration. 

• Set a gift price limit: To avoid overspending and gift-giving stress, set a reasonable budget for presents with your family and friends so that everyone is on the same page

• Use cash back browser extensions: Utilize apps like Honey or Rakuten to find coupon codes for online purchases and potentially earn cash back. Every little bit adds up!

• Repurpose your holiday decor: Refresh your festive decor by repurposing and repainting items you already have instead of buying new ones. Give old ornaments a new look with a coat of paint, or transform an unused vase into a festive centerpiece. Embrace your DIY side and make your decorations truly one-of-a-kind.

• Host a potluck dinner: Hosting a holiday potluck is a wonderful way to celebrate and save money. Guests can bring their favorite dishes, adding variety and personal flair to the feast. This way, you can lighten the financial load and share holiday joy.

• Travel wisely: Travel during off-peak times, like early December or just after New Year’s. You’ll dodge the holiday rush and score sweet deals on flights and cozy stays.

• Repurpose wrapping materials: Save money on wrapping paper by reusing gift bags, boxes, or even newspapers for a creative and eco-friendly twist. You can also repurpose old decorations or holiday cards into gift tags or new décor.

• Create budget-friendly traditions: Not all holiday traditions need to come with a hefty price tag! Instead of splurging on pricey outings, why not create new budget-friendly traditions? Cozy up for a holiday movie marathon, whip up some festive treats, or take a magical drive to admire the lights in your neighborhood. 

As you celebrate this holiday season, remember that you can “sleigh” the spending blues. Here’s to a holly, jolly, and financially savvy holiday—may your days be merry and bright and may all your expenses be light!