The holidays can be stressful and overwhelming to say the least. And money can really add to that stress! And one of the best ways to help with money stress around the holidays is to work on saving money before they start. Which is why today we are going to chat about how to save money before Christmas 2022 starts and the holidays really get into full swing.
But now let’s get into these holiday money saving tips!
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How To Save Money Before Christmas 2022!
Before the holidays money saving tips:
Tip 1: Make a pre holiday budget.
Budgets- make them and stick to them!
You absolutely need to have a monthly and annual budget. And then you need to stick to it! But taking it a step further and making a pre holiday budget is so helpful for saving money and staying on track financially.
There are so many apps and websites that make this so easy. They can even link to your credit card to tell you if you are going over certain parts of your budget!
And make sure to communicate this budget with your spouse or partner if they are also contributing so you can make sure you are on the same page.
Tip 2: Look for sales early.
Spacing out your holiday spending and watching for sales is a huge way you can save money.
Set up email notifications and check them every few days for stores you like to buy holiday presents from. So you can watch for sales that can help you save money! And it helps you space out spending so the impact doesn’t feel as intense.
Tip 3: Cook and make your coffee at home more.
This isn’t a fun tip but cooking meals when it isn’t a social event and making your morning coffee at home can help you seriously save so much money. Get a nice coffee maker (like this one) and it will pay for itself quickly by not paying $5 a day for Starbucks.
This can help you build up some savings before the holiday spending starts.
Tip 4: Get creative with cards and wrapping.
One of the best money saving actions I ever took was buying a Cricut. It saves so much money on cards and gift wrapping!
For the cost of one sheet of vinyl and some bulk card stock and gift bags you can do all the holiday gift wrapping and cards you need. Which is so much cheaper than buying marked up holiday cards and gift bags.
Tip 5: Use credit cards wisely.
This is a common piece of advice but still so many people don’t listen to it.
Credit cards are good for somethings! They help your credit score when used correctly, they can have great perks, and they are safer than cash or debit cards. But if you abuse them then they can ruin your financial future. I strongly recommend only using a credit card if you can pay off the balance bi-weekly! But they can quickly add up to points and money savings around the holidays if you are cautious about the risks of credit cards.
Tip 6: Prioritize your gift lists.
I am not saying that you have to spend more on some than others. But the reality is you are going to want to spend more on your spouse than your coworker!
So to save money and plan for your finances around the holidays make sure to make a prioritized gift list. Take the time before the holidays even start to make this list. So that you can always keep it in mind when you are shopping and so you can help yourself spend less during the holidays.
Tip 7: Don’t worry about keeping up with your friends.
Everyone’s life path is so different! So don’t sweat it if your friend (or family) are buying others super expensive gifts. If you spend all your money trying to “compete” with your friends you will be hurting your financial future and in the long run it’s not worth it at all!
Live within your budget and don’t worry about what others are spending their money on.
Overspending during the holidays is never a good idea but it can be easy to get caught up in it. Especially if you are mentally “competing” with others. So be aware of that and don’t spend outside of your means and keep your financial goals in mind.
Tip 8: Make a holidays savings account.
Making a second savings account to put holiday spending money into can be super helpful.
It helps you know what you have available and it helps you to not spend that money. If you have a partner that you are splitting gift buying with you could make this a joint account so you can both know what you have and contribute to it however you both have discussed!
Let’s get social!
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