Presents. Travel. Celebratory meals. Decorations. The holidays can bring joy—and big expenses. But with a little planning, you can celebrate meaningfully without overspending. Here are 10 ways for making the season bright while keeping your budget in check.
Here’s what we’re going to cover:
- Plan early
- Make a list (and check it twice)
- Set a gift budget
- Give a little less—but with more meaning
- Share experiences rather than giving gifts
- Visit the dollar store
- Make your own presents
- Plan a potluck
- Drive instead of fly
- Start saving for next year
- Oportun: Affordable lending options designed with you in mind
Key takeaways:
- Plan your budget and savings early so you’re prepared for holiday expenses, and then stick to it
- Focus on experiences and spending time with friends and family instead of expensive gifts
- Crafts and gift alternatives can be more affordable and meaningful
Plan early
The sooner you set a holiday budget and start saving (psst… use Set & Save to meet your goal), the better. It gives you time to save, compare prices, and shop with intention—so you’re not caught off guard when expenses add up. Make sure you’re prepared when the holidays sales begin!
Make a list (and check it twice)
Making a shopping list and sticking to it helps you stay focused and avoid impulse purchases. If you see something you like that’s not on the list, add it and come back to it another day. This gives you time to make sure you really want it and if it fits your budget, and will help keep you in control.
Set a gift budget
Write down the names of all the people you plan to buy gifts for and how much you can spend overall. Then add a little extra in case you stumble upon something you just can’t resist (after adding it to your list). If you hold yourself to the budget you’ve set, you’ll be in great shape!
Give a little less—but with more meaning
Not every celebration needs a wrapped present. Suggest a get-together instead of a gift exchange with some friends or family. You’ll probably find that others feel the same way.
Share experiences rather than giving gifts
Charlie Brown’s friend knew it. The Whos in Who-ville knew it. The great philosophers all agree: It isn’t the pile of presents that make a holiday special—it’s the spirit of celebration and sharing.
Create memories by spending time with the people you love. Watch a favorite movie together. Hold a snowman-building contest. Decorate cookies, play board games, join a community sing-along. You may come up with new traditions that everyone enjoys even more than gifts.
Visit the dollar store
From gift wrap to stocking stuffers to decoration, dollar stores are a treasure trove of affordable holiday supplies. Start there to see what you can find before heading to more expensive stores.
Make your own presents
Homemade tamales, fresh-baked cookies, decorated candles, personalized photo albums, hand-knitted socks—the list of gifts you can create is almost endless. These can be more affordable, and they’re more sentimental.
Not feeling crafty? Create your own coupons for a car wash, home-cooked meal, or babysitting. Gifts of your time and attention often mean more than what you can buy.
Plan a potluck
Parties where everyone pitches in are a great way to keep costs low and spirits high. It’s simple: Everyone contributes a favorite dish, drink, plates or utensils. Sharing the work and getting to try different types of food makes the day feel festive.
Drive instead of fly
The cost of plane tickets goes up around the holidays. Airports are crowded; tempers get short. If you have the time, driving can be a good alternative. A road trip gives you the freedom to travel at your own pace, either zooming by without stops, or go leisurely as you like. Plus, it can save you money. Road trips can make great memories if you turn them into part of the holiday celebration.
Start saving for next year
Plan for next year’s holiday budget now. You can start saving with Set & Save. Just download the app and set up a goal for Holiday Budget and it will do the saving for you throughout the year. Or, set up a separate savings account and remember to add to it through the year.
No matter what you’re celebrating, the most meaningful memories aren’t about how much you spend. They’re about who you spend time with—and how you make the most of it. After all, it is the most wonderful time of the year!
Oportun: Affordable lending options designed with you in mind
Now that you’ve got some ideas on how to save money this holiday season, you can learn about how Oportun may be able to help you if you’re looking for affordable credit options. Visit our homepage to learn about:
- Personal loans
- Secured personal loans
- Savings
- And more!
