4 Great Ways to Save During the Holidays
Keep a handle on your holiday spending with four simple money-saving tips.
While the holidays are notably the most wonderful time of the year, sometimes they can be pretty expensive. That’s why we put together a few tried-and-true tips that can help save you some serious cash, while still keeping the spirit of the season alive.
Make a list
While everyone is busy writing up their own wish lists, make a few of your own! Done right, holiday spending lists can wind up saving you a sack full of cash come the new year—especially if you check them more than twice. The key is to set your spending limits well before you decide what or who you want to spend money on. After you agree on a max spending limit, divvy that number up amongst different categories like gifts, decorations, entertainment, groceries, etc. Then you can start creating your specific lists (gift-giving lists, grocery lists, etc.) and spreading the cheer around as you see fit. The more detailed and realistic your spending lists are, the more likely they are to save you money!
Get some helpers
Everyone, including the big man himself, needs a little help from time to time. And that’s exactly what Money Management Tools are—little helpers that work to save you money! You can use them to set aside a little extra holiday money every month, track your account activity, and even set up custom spending categories and notifications. Keep your holiday spending on-track, and your budgets intact!
Stick to cash
Another great way to limit your holiday spending is to use the cash-only method. After you set your spending budget, withdraw that amount of cash from your account and put it in an envelope. This forces you to be more intentional with your spending and can help avoid those impulsive in-person and online purchases. Once the money in the envelope is gone, you can count your holiday shopping done!
Start a secret
Depending on the size of your family and friend group, starting a Secret Santa-like tradition can wind up saving you hundreds, if not thousands, on gifts. Not to mention the amount of time you can save by shopping for just one person. All you need to do is set a gift-spending limit, create your own wish lists, and have an impartial party take care of assigning who gets who. In addition to saving you a hefty amount of money, the anticipation and intrigue of having a Secret Santa is always a jolly good time.
Savor what’s important
In the end, the holidays are all about spending time with those you love. As long as you keep that in mind, you’ll wind up saving some money without even trying.
This information is for educational purposes only. It should not be considered legal or financial advice.