Are you tired of draining your bank account every holiday season?
Yeah, me too.
The scary thing is that it’s just so easy to spend buckets of money during this festive time of year.
Even worse, we normally don’t even notice our spending until January!
So, how do we fix it?
How do we stop spending all this cash, but still enjoy the holidays?
The answer, my friend, is wrapped inside these game-changing holiday money saving tips. 🎁
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Practical Holiday Money Saving Tips
Let’s kick things off with the most practical holiday money saving tips that are sure to save you fist fulls of cash.
Set a Holiday Budget
The number one best money-saving tip you can utilize is to create a holiday budget.
Seriously, this is truly a game-changer.
When you create a budget, you take control of your money and stay within a reasonable, set spending limit that works for you.
Learn how to create a foolproof holiday budget (and stick to it) in this comprehensive, step-by-step guide.
You can also kickstart your holiday budgeting progress with this free monthly budget printable worksheet.
Related: How to Create a Foolproof Holiday Budget
Track Your Spending
In conjunction with your holiday budget, be sure to keep track of your spending as the holidays progress.
Keep a running total of your expenses in each budget category and track how much you have left to ensure you don’t go over.
Save a Little Each Month
To help avoid borrowing money for the holidays, opt to set aside money each month into a separate savings account. This way, when December comes around, you have enough money to spend.
Pro tip: Create your holiday budget every January. Then, divide your total budget by 12 to know how much you should save each month.
Create a Gift List for Each Person
Start by creating a complete list of people you hope to purchase gifts for. Be sure to both set a budget and create a unique gift list for each person. Bonus points for setting a budget for each individual gift!
Looking for some great gift ideas? Here are some fantastic ideas to get your ideas flowing:
Create a Comprehensive Shopping List
Using your budget and gift list, create a comprehensive shopping list for the season. Be sure to include gifts, decorations, wrapping paper, and any other items you think you might need for the season.
*Reminder: Once you begin shopping don’t stray from the list!
Take Inventory Before You Shop
Take a full inventory of everything you have at your home before shopping to help avoid double-spending. This includes wrapping paper, tape, scissors, and ribbon.
Also, don’t forget to check that all your Christmas lights are in working order!
Use Old Gift Cards
Pull out your old gift cards to use during the holidays. Especially for the stores you never shop at. These gift cards can be used to purchase gifts, decorations, and even fun experiences for the family over the holidays.
Opt for a Potluck Style Meal
If you plan on hosting a large family meal, opt for a potluck-style meal instead of cooking the entire spread yourself. This will decrease your workload and save you money.
Shop After-Christmas Sales for Holiday Essentials
Utilize the after-Christmas sales to the max! Stock up on essential items including wrapping paper, extra lights, gift tags, and tape, then stash them in storage for next year.
Pro tip: You will often find the best after-Christmas sales in stores (as opposed to online). Seriously, you won’t believe the deals you will find!
Tips for Saving Money on Gifts
Next, let’s dive into some amazing gift money-saving tips. These fantastic hacks will help you find the best deals on gifts and other great creative gift-giving solutions.
Opt for a White Elephant Gift Exchange Instead
Instead of getting everyone gifts in your family, opt for a fun white elephant instead!
This will add an exciting activity to play with your family, decrease your shopping budget, and remove hassle and stress from the holidays.
Another fun idea is to host a thrift shop white elephant (gifts only found at thrift shops, used stores, etc.). This can be done in addition to your regular white elephant gift exchange, or in lieu of. Last year, we did only a thrift shop white elephant and it was possibly one of the most fun gift-related experiences we’ve ever had!
White elephant hot tip: Purchase something that YOU want or need. This is beneficial in two great ways: 1. You know that there will be at least one gift you will want in the pool and 2. If you like this gift, there is a great chance others will too!
Shop Throughout the Year
Now, if you’re reading this during the holiday season, this tip is too late for you. However, you can plan to take advantage of this tip next year.
Of course, this tip does not work for everyone. Especially with kids who change their wishlist every week.
But, for people you know incredibly well, you can stock up on amazing gifts at wildly low prices throughout the year.
There are two great strategies to try: shop yearly sales and shop the clearance rack.
For large purchases, such as major electronics or appliances, yearly sales are a great option. Be sure to research that particular item online to see when the best price might occur.
For smaller gift ideas, be sure to frequently peruse clearance racks to see if you can find any hidden gems. You can often find board games, exercise equipment, clothes, and seasonal decorations at a fraction of the price.
Use Online Price Comparison Tools
Find the best price on each item on your list by using price comparison tools. These sites will help you identify which store has the lowest price on a specific item.
Shop at the Cheapest Store First
If you didn’t have any luck with the price comparison tool, start your shopping at the cheapest store first (like the Dollar Store) and work your way to the most expensive stores on your list.
Shop Black Friday and Cyber Monday Sales
Take advantage of Black Friday and Cyber Monday sales to ensure you get the best bang for your buck. In fact, I have an entire fool-proof Cyber Monday strategy that will change the game. Check it out here!
Related: How to Create a Cyber Monday Game Plan
Use Rebate Apps
Rebate Apps are a way to earn cash back by when completing your everyday shopping. This is an incredibly smart and easy way to stack the savings on top of sales!
My favorite rebate company is Rakuten (formerly known as Ebates). They offer cash-back throughout the year, but often have even higher cashback deals during Black Friday and Cyber Monday! They even have a great price comparison tool you can use. Seriously, it’s a game-changer.
Sign up for Rakuten today to earn your first cash-back offer!
Shop Discount Sites
Speaking of cash-back sites, you can also use discount websites to snag some great deals. Bonus points if you use a rebate promotion on top of the discount site. My favorite discount + rebate pair is to use Groupon + Rakuten. You’ll snag a great deal PLUS get cash back. Ugh, the savings couldn’t be more spectacular! 🤑
Use Coupons
Stack your savings by purchasing gifts with coupons. You can often find great coupons online and by signing up for store emails or rewards.
Another great place to find coupons is your local Sunday newspaper. I know, you’re probably thinking “ew.” However, you’ll actually find some of the best coupons in newspapers, especially on food items and gifts at large retailers.
Purchase Gifts in Bulk
Some items, like candy, snacks, socks, gloves, hand warmers, and small toys, can often be purchased in bulk. You can then separate the items to give to multiple people. This is great for stocking stuffers!
Purchase Experiences Instead
Instead of gifts, consider purchasing an experience instead.
You can often find great prices on event tickets over the holidays, especially at discount stores including Costco and Groupon.
Or, instead of purchasing tickets, you could also plan an entire weekend of activities that are free, but make the itinerary a surprise and give a gift that says “Surprise Weekend Activity” or something similar.
As an added bonus, this gift serves a dual purpose, as it will fill an upcoming weekend on your calendar!
Fill Stockings with Useful Essentials
Throughout the year, you’re already spending money on essentials. Why not use the holidays to stock up and use them to stuff stockings? You’ll save money on these items and provide a gift.
Stocking stuffer everyday essentials ideas:
- Chapstick
- Lotion
- Hair ties
- Deodorant
- Soap
- Hair care
- Toothbrushes
- Snacks
- Makeup
- Stationary
- Tea or coffee
- Mints
Related: 99 Gift Ideas Under $25
Purchase Gift Sets
You’ll often find that gift sets are usually marked at a great discounted price.
To make this gift set look even more extravagant, consider taking it apart and wrapping all of the individual items.
Regift
Don’t let the bad reputation of regifting get to you. There is a huge possibility that the gift you don’t like is the gift your family member or friend will adore!
Make Home-Made Gifts
Consider adding a personal touch to gifts by giving home-made items. My favorite homemade gift idea is baking cookies for neighbors, coworkers, and teachers.
Send Out Gift Surveys
Send out a survey to your friends and family to ensure you both find a gift they will love and don’t waste any money on unwanted items.
Some ideas for survey questions include:
- Favorite Color
- Favorite Treats
- Current Hobbies
- Favorite Reading Genre
- Most Used Item
- Favorite Way to Spend Time Off
Holiday Decoration Money Saving Tips
Don’t let the magical experience of home decorating burn a hole in your wallet. Check out these amazing and creative holiday money saving tips to help you make the most of the season.
Cut Down Your Own Tree
Instead of going to a tree farm or store, try a fun new tradition of cutting down your own tree.
The United States Forest Service has a fantastic program for this. You just purchase a tree permit (which is insanely cheap) and cut down your tree in a designated area.
This fun activity will make a great family memory, score you a cheap tree, and help with forest management practices. What a win-win-win!
Funny Story: A couple of years ago, we went on a fun adventure to chop down our own tree in the mountains, only to lock our keys in the car. With no cell service, not a soul in sight, and rapidly dropping temperatures, we had to break our window to get back inside. Looking back now, we fondly laugh at that memory, but please learn from our mistakes!
Shop Online Marketplaces
Craigslist and other online marketplaces are a gold mine for holiday decorations.
I know it might sound strange, but you won’t believe what you will find!
We have scored some amazing holiday decor using online markets, including a brand new 8-foot beautiful fake Christmas tree for FREE because it was the wrong size and the family couldn’t get a refund.
Shop Thrift Stores and Garage Sales
Another great decoration money-saving tip is to shop gently used decorations at thrift stores and garage sales.
You really can find wonderful treasures, such as vintage candle sticks, garlands, bells, ornaments, and so much more! Plus, they are all usually at amazing prices.
Opt for Energy-Saving Lights
When purchasing holiday decorations that utilize electricity, such as Christmas lights, opt for energy-saving bulbs. In the long run, you’ll actually save a TON of money on electricity (and they usually last longer, too!).
Use Timers on All Outlets
Another great electricity-saving tip is to install timers on all of your outlets (both indoor and outdoor outlets). Timers are cheap and automate your lights so that you never forget to turn them off.
Plus, they are super convenient! Set the timers one time when you install them and never have to turn your lights on and off.
There are a ton of great timers on the market. These are the ones we are currently using and absolutely love.
How to Save Money on Holiday Activities
Another major holiday expense is holiday activities. They can really add up, especially if you have a large family! Help ease this burden by checking out some of these amazing holiday money saving tips for activities, including how to score discounted tickets, free activity ideas, and more.
Borrow Holiday Films from the Library
Did you know that you can borrow movies from your local library? Some libraries even offer a free streaming service when you sign up for a library card!
As an added bonus, movies are often borrowed for 7-day periods (ours is actually a 21-day period!) so you have plenty of time to watch them.
Libraries even offer brand-new movie options. That’s right, movies that have just come out of theaters can be borrowed FOR FREE at the library!
Looking for some great holiday movie ideas? Check out these top holiday films to add to your list.
Borrow Holiday Books from the Library
Of course, you can also borrow amazing holiday books from the library for, you guessed it, FREE!
Attend Free Holiday Events
Look up your local community calendar and pack your weekends with free holiday events, including free holiday markets, concerts, parades, tree-lighting festivals, volunteer events, and more.
Create a Holiday Budget List
Speaking of activities, create your very own holiday bucket list to bring even more magic to your holiday season. Be sure to fill your bucket list with cheap or free activities to keep your spending low, such as baking cookies, neighborhood drives, and fun game nights.
Start your holiday bucket list with these 50 magical holiday activity ideas.
Related: The Ultimate Holiday Bucket List
Purchase Discounted Tickets
For activities that require tickets, be sure to research any discounts before purchasing. Look for coupons, sales, deals, and use discount websites (like Groupon) to save the most money possible. Don’t forget to look for holiday activity tickets during Black Friday and Cyber Monday!
Further Holiday Reading
Looking for even more great holiday resources? Check out these magic-filled holiday guides, tips, and more to help you enjoy the holiday season.
- The Ultimate Holiday Bucket List – 50 Festive Activity Ideas
- How to Create and Stick to a Realistic Holiday Budget
- How to Create a Cyber Monday Attack Plan
- 99 Budget-Friendly Gift Ideas
- The Ultimate Holiday Movie Bucket List
- The Ultimate College Student Holiday Gift Guide
More Financial Resources
Ready to meet your financial goals? Check out these foolproof money-saving and personal finance resources to kickstart your journey to financial freedom.
- An Ultimate Guide to Frugal Living
- How to Create and Stick to a Realistic Budget
- 57 Insane Money-Saving Tips to Skyrocket Your Savings
- 21 Legit Ways to Make Extra Money
And… that’s a wrap! 🎁 I truly hope you’ve found some amazing and useful holiday money saving tips that will help you meet your financial goals. The holidays are such an amazing and magical time, I truly hope you enjoy it and make some amazing memories with your family. Cheers!
Holiday Sale Alert! During the holidays, I always host a fantastic holiday sale on my Printables Etsy Shop! This is a perfect time to snag a seasonal bucket list, financial worksheet, goal planner, and more.
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