Sleigh your holiday spending: 12 tips

The holiday season is upon us, and with all the festive cheer comes the usual holiday spending. Don’t let winter spending snowball! 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.

• 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.

• Set a budget: Before the holiday season kicks into high gear, set a holiday budget for gifts, travel, food, and other expenses. Use a free budgeting app to make it easier to track your spending and your goals. According to the National Retail Federation, Americans are feeling the pinch of higher prices. We'll shop sales, use coupons, and compare carefully more this year than we have in the past. A Gallup poll shows that we plan to spend an average of $1,011 this year. That's in line with 2024 and 2025, but because of higher prices we'll have to work harder to get the same value for our money. Having a clear plan will help you avoid impulse buys and prevent post-holiday debt.

• 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

• Take advantage of sales: Holiday deals and coupons are great money-saving holiday hacks. Explore thrift stores for one-of-a-kind gifts, and sign up for emails from your favorite retailers to stay updated on sales and exclusive offers.

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

• DIY gifts: Homemade gifts add a personal touch and can save you money. Bake cookies, craft handmade ornaments, or knit a scarf. To many people, DIY gifts are 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. 

• 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: 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. Potlucks lighten the financial load for everyone and share holiday joy.

• Travel wisely: Airfares are about 25% higher this year compared to last year, a serious budget bah-humbug. That makes creative travel planning a budget-saving activity well worth your time. 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. Travel on Tuesdays or Wednesdays.

• 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. Recycling and upcycling are creative ideas for a debt-free holiday.

• Create budget-friendly traditions: Not all holiday traditions need to come with a hefty price tag! Instead of splurging on pricey outings, 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!