Is Holiday Shopping Already Haunting Your Wallet? How to Have Fun Without Blowing Your Budget

Blog Highlights

• Experiences: See how focusing on meaningful experiences instead of pricey gifts can make the holidays more memorable.
• Budgeting: Learn how to set a realistic holiday budget, track purchases, and stay in control of your spending.
• Smart Spending: Discover practical tips like shopping early, using rewards, and cutting non-essential costs to stretch your holiday budget.

The excitement of the holidays can quickly turn into financial stress when the dinner expenses, travel costs, holiday shopping, and entertainment budget get stretched! From an expensive electronic gift for the teens and a festive holiday dinner for twelve to costly seasonal holiday activities and even pricey out-of-state travel: The holiday spending definitely adds up…and fast!

This year don’t let holiday shopping put a damper on your planned festivities. Instead, follow our guide to making smart money moves to keep the season fun without blowing the budget. Here are some great tips for saving money on holiday shopping that everyone can use!

Holiday Shopping Guide for Budget-Friendly Smart Money Choices

Focus on Experiences Instead of Things

Instead of overspending on holiday shopping, consider giving experiences. Try hosting a holiday movie night, volunteering together as a family, or planning a fun low-cost holiday outing. Spending quality time together over the holidays and creating memories through experiences can be more meaningful than overspending on gifts.

Set and Stick to a Holiday Budget

When planning your holiday shopping budget, it is important to be as realistic as you can about the amount of money you plan to spend on gifts. Setting a realistic spending limit before you even begin shopping helps keep you on track and within budget. Start by making a list (and checking it twice) of the gifts you want to buy. Be sure to use free apps and other budgeting tools from your credit union to keep track of purchases to avoid surprises.

Stretch Your Budget with Smart Spending Habits

Since most of us probably have the goal of buying as many gifts as possible for the least amount of money when holiday shopping, it is a smart money move to consider these practical, budget-stretching tips to help you get the most bang for your holiday buck this season.
 

Tips for Stretching the Holiday Shopping Budget This Season

• Shop Early: Pay attention to what those on your holiday shopping list like and keep an eye out during the year for deals on these items. For instance, summer type items are greatly reduced at the end of the season so if patio chairs are on your shopping list, there may be a deal to be had in September!
• Take Advantage of Sales: Search online and watch advertisements to take advantage of discount pricing on holiday gift items. Also look for seasonal sales like Black Friday and other pre-holiday bargains that happen every year. This is a great way to save big when holiday shopping.
• Use Rewards or Cash-Back Programs: Be sure to register for rewards and cash-back programs to help keep holiday (and year round) shopping costs down. These programs can really add up and offer a unique and proven way to shop till you drop for less.
• Plan a Holiday Gift Exchange: Instead of trying to buy a gift for everyone when you are on a budget, plan a holiday gift exchange instead. Draw names or choose another method to decide who will buy gifts for each other. This ensures everyone gets a gift and they all get to save money and stay within budget, too!
• Cut Back on Non-Essential Holiday Expenses: While it’s hard not to go overboard with spending while holiday shopping, cutting back on some of the non-essential holiday expenses can really make a difference and help avoid overspending. Think about purchases before you make them to avoid impulse buys.

Enjoy the Season Without Financial Stress

If the thought of going through the holidays with no financial stress sounds like the perfect plan, you’re in luck! With a little planning and research before you start your holiday shopping, you can enjoy the season without feeling the financial burden that often accompanies holiday spending.

The key to a stress-free season is to focus on balance during the holidays this year. Celebrate simple traditions, spend your money wisely, and work hard to keep your financial health intact. And remember that a joyful holiday season does not have to come with credit card debt in the new year! You can enjoy the season while staying within your holiday shopping budget.

Mindful Spending is the Secret to Stress Free Holiday Shopping

Take advantage of these insightful holiday shopping tips to focus on the joy of the season and time with family and friends instead of your wallet feeling haunted. With just a little planning and mindful spending habits, you can enjoy the season without the guilt of overspending! Contact your credit union or bank today to take advantage of free apps and resources to help you budget, track spending, and learn more smart money moves to help you take control of your finances and reach your goals.