11 Ways to Save Money at Christmas.

The holiday season can be tough on your wallet. It seems like every time I turn around I am spending money on something for the holidays. Everyone could use a few money-saving tips right now, so here are my 11 favorite ways to save money at Christmas and still have plenty of sparkle in the season! 

The November and December holiday season is a magical time for many people. However, that magic can also lead to it being an expensive time. Especially if you are on a tight budget, saving for retirement, or paying down debt, this can be a month where you are spending more than you can afford. 

With some intentional planning, and knowing what are your favorite parts of the holidays, you can make some spending cuts that will keep the magic of this time intact. 

What are your Christmas priorities?

Before you get started, take a moment and think about what the most important parts of the holiday season are to you. Think back through the last few holiday seasons and write down what were the most memorable and important moments from them. 

As you think through ways to save money at Christmas, ensure that you are still able to participate or prioritize those same moments so this holiday season has just as many memories as past holidays. 

Ways to Save Money at Christmas time!

Budget for gifts for the important people in your life. 

Make a list of who will be the people who get intentional and unique gifts from you, and set a price point for each person with any initial ideas listed there too. Include an amount for stocking stuffers if applicable to anyone. 

Add up the total and be realistic with yourself about how much you can spend without it impacting your financial goals. Relationships have changed the past few years, just because a person received a gift last year, consider your current relationships and what feels right to you this year. 

Reuse and refresh decorations.

One of my favorite parts of the holidays is decorating my house so it is festive, warm, and welcoming. Rather than spending a ton of money each year on decorations, I pull all my decorations out of storage and then spread them out in a different way than I did in the previous year. 

Using them in different ways or different locations makes them feel fresh and unique each year. I usually let myself buy one or two new things I love each year and feature those prominently in my decor. Some things are not put out each year, but that just makes them seem new and fresh when they make it out next year!

Make small inexpensive gifts for acquaintances and help supplement gifts to other people.

Not everyone should be on your “big gift” list. Have a plan for a few small gifts and Christmas cards you can have on hand for acquaintances. If you are a crafter, this is the perfect time to craft or sew something cute and useful. Bakers can whip up a plate of cookies, truffles, or a loaf of quick bread to share with people.  If you are not a “maker” then find a local small business that sells something fun and buy a few to share with friends. 

Splurge on the areas that are most important to you and plan to save on less important areas. 

Revisit the priorities we looked at earlier in the post. Identify your most important parts of the holidays and make a plan to ensure you get those in. 

If it is spending time with loved ones, then plan a holiday party for friends and a celebration for the family on the holiday day. If it is an annual tradition of going to the Nutcracker, then book those tickets and plan a fancy night out on the town! 

Use credit card points and cashback from the year to buy gifts with no money out of your pocket. 

Your credit card should have been accumulating cashback or some points this year (If you don’t have a cashback or some card that gets you benefits, then open one up! It’s like free money!). Use accumulated points for gift cards or cashback to supplement your budget so you can spend a little less. 

Plan your gift list early and keep your eyes open for sales or discounts.

Make your list of ideas and start searching for sales, discount codes, or free shipping to keep your costs down on the gifts that are really important to you! 

Shipping is taking longer this year, and there are still supply chain issues that may cause shipping times to be delayed especially if a product is coming internationally. Buy early so you don’t have to scramble and overpay for a replacement gift on December 23rd if your gift is delayed! 

Evaluate if traditions are still working for you and your family. 

Don’t be afraid to mix things up or start a new tradition that costs less. If people ask about it, blame Covid. It’s the perfect excuse for anything right now!

Remember, we want to focus on the intent and your personal priorities right now. 

If one of your identified priorities is spending time with your immediate family, then maybe hosting a 100 person holiday gathering for distant acquaintances, just doesn’t fit your priorities anymore. The money spent on that event can go to a special family activity or trip that you will remember for years to come.

Be intentional with your spending on areas that are memorable. 

Look for ways to save on some of the extras like gift wrap, decorations for meals, and hosting gifts. Search for sales, stock up at the end-of-season close-outs, or check the dollar store for great gift bags and wrapping paper. By cutting your budget on these areas, you can spend a little more on the gifts or other areas that matter more to you.

Are the gifts you give still appropriate based on how close you are to that person? 

If they received a $50 gift last year, but you have not spoken to them in 8 months, maybe they can be bumped down to a homemade gift level instead? If you have not spoken to someone since last Christmas, maybe they can be on the “card only” list instead. The more you prioritize and focus your list, the more impact you can have on the priority people you identified. 

Focus on the people and experiences rather than giving gifts. 

Some people love giving and receiving tangible gifts. It is a Love Language after all! Others appreciate gifts of experiences or time more than a tangible item. 

Take some time and evaluate the people closest to you and see if you know if they are a gift person or would prefer something else. 

The best gift I can get from someone is the opportunity to travel with them or spend one on one quality time together doing something we enjoy. Those are the types of gifts that are memorable to me, but I do still very much appreciate a thoughtful tangible gift. 

Make sure you are saving money on the gifts you do purchase. 

Use cashback credit cards, watch for sales, and shop through cashback sites like Rakuten to save as much money as you can on the gifts you purchase. If you are spending money, work to get as much in return as you can! Then consider using it for a splurge for yourself in January!

Are you ready to tackle the holidays now! I certainly am excited and will be doing my shopping in the next few days. With so many people spread out across the country and even the world, many of my gifts are going to be shipped directly to friends and family. Ther are so many ways to save money at Christmas time!

If your wallet is truly exhausted and needs a break, try setting aside a couple of no-spend days during December. By challenging yourself to not spend any money on a specific day, you are being more intentional and mindful about your spending. This can translate into you spending less money, which is a great way to save a bit more!

What are your favorite ways to save money at Christmas time? I would love for you to share them in the comments below or over on our Instagram page so we all can learn new ways to save!

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