3 Tips to Save Money During the Holidays
As an Amazon Associate I earn from qualifying purchases. We may earn money or products from other companies mentioned in this post at no cost to you!
Reading Time: 4 minutesHoliday season is here!
Well, sort of… Have you been seeing a lot of posts on Pinterest about holiday savings or decorating? That’s because October is a good time to start (if you haven’t started earlier) planning and saving for the holiday season that is right around the corner!
According to this USA Today article, citing the Nation Retail Federation, “…the average American will spend nearly $1,050 on holiday gifts, goodies, and travel this year…”. To me, that’s a lot!
If you include Halloween as part of the holiday season, it’s even more! Just for Halloween candy alone, Americans are expected to spend a combined total of $2.6 billion! This does average to about $25 per person (see the USA Today article), so maybe not so bad, but I know I’m not spending that much on candy. And this doesn’t even include those who decorate or are buying costumes.
To help you minimize the financial impact, I’ve compiled some tips for you!
Tip #1
Plan, plan, plan!
Decide now what you want to spend on everything, from gifts to parties to decorations. When you have that number in mind, say $1,000, see how much you need to be setting aside each paycheck to reach that by December. Having this number in mind can actually help you make decisions about what kind of gifts to give people. If you have an amount that you’ve set for an individual, you’ll only be looking for gifts that are in that price range instead of just randomly searching for a gift for someone.
If you’ve read any of my other articles, you’ll know I’m a big fan of separating your savings so you’re saving for multiple purposes at once (see the post). If you haven’t already started budgeting your savings for the holidays, start working it in now!
Don’t neglect to save for holiday travel if you know you’ll be doing any long-distance holidays. My family is close so all we’re spending is a little gas money, but I know others that are traveling much further, or they’re having to also stay in hotels.
Lastly, don’t forget to budget for holiday parties you might host and parties you might attend. You can plan ahead, too, buy thinking of inexpensive food items you could bring to holiday parties (think veggie and fruit dips), or stock up on those inexpensive bottles of wine!
Tip #2
I think most obviously: look for deals!
Amazon, notably, does its “Prime Day” as sort of an early Black Friday shopping event to help boost their sales. I’ve noticed other retailers like Target and Wal-Mart are trying to compete with Amazon Prime Day by offering their own version at the same time. The benefit to you is the deals!
If you’ve already been budgeting for holiday shopping (see Tip #1) and have your limits set for gifts or decorations, look for deals on Prime Days. They’re already doing previews of deals for those days so you can plan ahead!
Look at some of these cute and inexpensive fall decorations I found on Amazon! Also, I linked a 4 lb. bag of candy that’s under that average $25 for you. 😉
There is always Black Friday for shopping for discounted Christmas gifts. To be honest though, I never participate in this myself. I’m all about Cyber Monday (the Monday after Thanksgiving), and I think it’s a possibility that in-person Black Friday shopping may not happen this year. We’ll see, as it is generally a big boost to retailer’s revenues that they count on every year. It might be best to be prepared to do your shopping for large items online.
Don’t forget to check out Dollar Stores, TJ Maxx, Ross, etc. for decorations and gift wrapping. I get really nice wrapping paper from TJ Maxx (I wish I had good pictures of my past presents) and my presents always looked super classy. I spend something like $1.99 per tube, so it’s super inexpensive.
And I know I see gift wrapping at the Dollar Store. As the name of the store implies, it’s pretty cheap. 🙂
Don’t feel guilty about using the Dollar Store for gifts either. You can find kid gifts there easily, like coloring books, puzzles, and other small items.
Tip #3
One of my favorite things to do to save on decor, gifts, or treats: buy AFTER the holiday!
Okay, maybe this won’t help you now, but you can get a head start on next year! Stock up on that holiday candy and throw it in the freezer so it’s ready to go next year.
You could probably use this same idea to save for this year, too. If you feel like last-minute shopping, you could go to the store on October 31st and you’ll most likely find bags of candy already on sale.
I especially use the post-holiday season to save on decor. I enjoy looking for new Christmas ornaments after the holidays, and I get a deep discount on them! I’ve started slowly accumulating Christmas decorations this way without spending so much. Since I’m packing them away right away with my other holiday decorations, it’s like an early Christmas the following year because I usually forgot that I had purchased these new ornaments, ha ha!
Conclusion
Hard to believe we need to start thinking about holidays and gifts and parties already! I’m a believer that the planning ahead and sticking to a budget is going to help save money during this heavy spending time of year. And, it will help you start the new year with not having to pay off holiday debt! This year has been a wild one, for sure, so let’s finish it off well!
Related
See my holiday gift guide for ideas for gifts in various price ranges for him, her, and kids.
49 Comments
Debbie
It is fun to get your holiday decor out and find something you forgot that you purchased!
Ashley
Granted, your choices may be limited, but there’s nothing wrong with picking up a few things every year and just accumulating that way, in my opinion.
Beth Shields
Great ideas and so important these days. Thanks for sharing these money saving tips. I forget to get in on after season or early deals – but your suggestion for planning is key. Thanks!
Ashley
Hard to believe those days will be here sooner than we realize! Thanks for reading.
Denise
I couldn’t agree more, planning out a budget for this time of year where ALL the holidays are headed our way and we really don’t get much time in between. I’m not sure what’s going to happen with how our lives have changed but this is great sound advice! 💯 Thank you for sharing Ashley! 👍🏼
Ashley
I think we can all assume that from now until year end is just going to be crazy, right? 🙂 Thanks for reading.
Megan
great tips! Every year I say we are going to spend less and less…and I don’t feel like the holidays are affected much just because we have less stuff!
Ashley
Agreed! Thanks for reading.
Lisa Manderino
I know I guess I need to get ready. It would be nice to be completely done by the first week of December.
Ashley
It’s hard to believe these holidays are so close already!
Maggie | leavemetodream.com
Great post! I am definitely telling everybody who plans to shop online not to put it off this year. I think Black Friday will be cancelled, and with COVID and the election, the mail will be swamped.
Ashley
I agree with you! Just going to be a crazy finish to a crazy year.
Tiffany Smith
I live for shopping for decorations after the holiday is over or even the last few days before it! Such a money saver!
Ashley
It’s pretty crazy, like 70% off (or more)!
Sandra Whitmore
I love the after Christmas deals. Great savings if you can think ahead.
Ashley
Thanks for reading and commenting!
Chelsea
One way we’ve planned is to have a sinking fund. So that come the holidays, we aren’t totally strapped and stressed. We save starting in January and put money away each month that totals what we usually spend in November and December.
Ashley
Starting in January is even better! Then you’re not having to put aside such huge chunks at the end of the year. Good plan.
Alyssa
Great tips! I always try to get the bulk of my husband’s gifts in August/September. His birthday is October so I just buy enough to split into his birthday and Christmas! My family and I were originally going to do secret Santa this year and just purchase for our neices but my sister shot us down. Lol we were trying to save money and we never know what to buy one another since we purchase what we want throughout the year. I think secret Santa is a great money saving idea for adults that still exchange gifts.
Yvette
Ah… but my plan always falls apart becasue I don’t plan. Great article. I’m using this info this year. That’s my plan…
Ashley
Ha ha, thanks, and glad to help! I feel like I don’t pay attention to when the actual holidays come up (oh, Thanksgiving is next week?!) so good thing I plan ahead.
Sydney Delong
Planning is the biggest challenge for me! I am horrible about it!
Elaina
I’m trying to get into the habit of buying all year but then I sometimes have a hard time remembering where I hid everything 😂
Kristin
I definitely do some of these but could do even better this year. Sometimes I just decide to buy and do less in general, which can make for a less stressful holiday season, too!
Jane
Great tips Ashley! I’m looking forward to Amazon’s Prime event. And the best time to start shopping is now, so you have plan to prepare and also assess your budget.
Jill DeMasi
Good reminders to plan ahead and budget. I am always looking for deals and will be on Amazon next week for sure!
Kristina
I’m more ready than ever to find some good deals this year! Christmas must come and save 2020!
Ashley
Amen to that!
Suz
I aim to get all Xmas shopping done well before Thanksgiving. Did you see the cool savings on Amazon by using 1 Discover card point!?
Ashley
I plan on “adding” a card when I do some Christmas shopping myself! I got my husband a Michael Kors watch last year for $35 because I just applied for the Amazon credit card (that I don’t use) and they were giving $100 off. If they’re willing to give discounts like that, I’m willing to take them!
Tiffany
My biggest budget win is using my extra paycheck the second half of the year for all holiday gifts. Its a tight budget but it works!
Ashley
That’s a great idea! I think it’s perfect to use those bonus paychecks for big purchases.
Suzan | It's My Sustainable Life
Although we no longer exchange purchased gifts, I always take advantage of post season sales. Such great deals!
Ashley
I remember my mom picked up a fully decked out artificial Christmas tree for $70 after one Christmas. That was years ago, and we still have the majority of the ornaments that came with it!
Jordan
Thank you for the reminder to start planning for the holidays! And I love the tip to look for things after the holidays this year to use next year.
Ashley
It’s a great way to make sure you have those peppermint Hershey kisses later on in the year, ha ha!
Maya
Great money saving tips & right on time!
Ashley
Thank you for reading!
Marianne
I used to love finding deals after the holidays… but I find now, most of the deals are just a couple of days before the holiday. Once the date passes, all you find is the sad remains at the same price as before! Lol
Ashley
You’re right, it’s a little bit of a treasure hunt after the holidays. I’ve been noticing the discounts just right before the actual day, also. So if you’re brave enough, or are forced, to go to the store the day before or day of, you could find deals then, too.
Barbara
Planning ahead is always less stressful all the way around!
Ashley
For sure! It’s something I have to remind myself all the time.
Stephanie
I definitely need to get better at setting a budget, and more importantly sticking to it. It would probably help if I did that now, and started putting money aside. Thanks for the practical advice.
Ashley
Same here! Hence the reason for the post. 🙂 Thanks for reading!
Sara
Great tips! Deffinitely worth trying especially when purchasing gifts for multiple family members!
Ashley
Thank you!
Cindy Mailhot
Great ideas. I love using family photos for keepsakes to give away.
Melissa Jones
Great tips! I love finding good deals!
Cindy Moore
Excellent tips for saving money. I love the holidays…and I love saving money!