Americans plan to spend an average of $936 this year on holiday related expenses. With all of this planned spending in mind, you might be telling yourself that it’s impossible to save any money!
Let’s face it. It’s easy to get carried away. During the holidays, we overspend with the intention of spreading holiday joy. However, if you’re on a tight budget, you can pull off all of your holiday spending, plus save a little money, too!
Spreading Holiday Cheer Can Be Heartfelt
Getting in the holiday spirit doesn’t have to mean giving big, expensive gifts. In fact, it doesn’t have to mean giving a gift at all! You can spread holiday joy by volunteering, offering to help with cooking or preparing for a holiday get-together, sending holiday cards, or letting someone know you’re thinking of them!
My friends and I used to buy gifts for each other for the holidays. Now that we’re scattered across the state, we don’t do the gift exchange anymore. Instead, we send each other holiday cards, and it’s just as meaningful! And, much more cost-friendly.
It’s smart to check your budget before you begin shopping. Know how much you have to spend. Then, make a list of everyone you plan to buy for, and write out your gift ideas. Doing this will help you figure out how much it will cost you to get your holiday shopping done.
Shop with Cash, Save the Change!
You’ve probably encountered this savings tip before…save your change! It’s a great idea. Especially for the holidays, you can withdraw the amount of cash that you want to spend on the holidays. Then, save your save from each purchase.
Shopping this way will force you to think about how much you’re spending, and how much you have left over. It puts a limit on what you can buy. Plus, you can save the change from every purchase. This way, you’ll be saving while you’re spending!
Avoid the “Shop & Dine”
Shopping at the mall gets exhausting, so afterwards, it’s nice to grab a good meal! Avoid this, if at all possible. You’ll save an extra $15 to $20, or more! Plus, if you go out shopping more than once, “dine-out” meals can add up quickly.
Look Outside for Decorations
The best decorations are in your backyard!
Lastly, if you’re in a situation where you must borrow money to finance the holidays, shop around for low interest rates! Casco Federal Credit Union has a great Holiday Loan that let’s you borrow up to $2,500 for 12 months at a rate as low as 7.99% APR. This rate beats the rate of the average credit card, which means you could save tons of money by going with a Holiday Loan! Visit CascoFCU.com to learn more or apply!
Enjoy the holiday season!
Thanks for reading,