8 Holiday Tips to Get You Through the Year

Thursday, December 14, 2017


holiday money tipsThe holiday season is a special time. With Charlie Brown on TV, carols on the radio, and a growing shopping list, it’s easy to get carried away. The pressure to over-shop and overspend when you’re rushing to buy everything on your list can be overwhelming. No worries, though; we’ve got you covered! Read on for fantastic pre-and post-holiday tips to ensure you’ll have a holly, jolly December without breaking the bank.

6 Pre-Holidays Tips

1. Revise your gift list 

Gift giving is a treasured tradition. However, chances are, lots of people you exchange gifts with would be relieved to be taken off your list. So, narrow down your gift list. Talk to coworkers and acquaintances about exchanging cards this year or exchange homemade or inexpensive gifts.
 
This way, you can focus on buying special gifts for those closest to you instead of generic gifts for everyone.

2. Organize a Yankee Swap or Secret Santa

Still got a list that’s a mile long? Try one of these creative solutions! A Yankee Swap or Secret Santa activity saves money and stress while adding intrigue and playfulness to the holiday. These swaps are great for family gatherings, office parties and neighborhood get-togethers. Everyone involved only needs to bring a single gift – and it’s always fun.
 
Set a reasonable price cap on gifts to keep it fair. You don't want one person leaving with a candy cane and another with a flat-screen TV. Check out online tips for organizing a fun and affordable Yankee Swap or Secret Santa.

3. Bake holiday treats

Another way to reduce the financial weight of your gift list is to break out the baking supplies. Consider whipping up your own holiday treats instead of buying gifts.
 
Finding exactly the right gift can be difficult, but no one turns down a tin of homemade holiday cookies! Use your favorite traditional recipes, or try something new and different.

4. Make a budget and stick to it

This tip sounds a bit obvious. After all, we all plan to stick to a budget, right? But make this the year it really happens!
 
Don’t set yourself a ballpark budget. Set an absolute limit to how much you will spend on the holidays this season. This will encourage you to plan your spending rather than grabbing impulse items as you move through a store. It will also encourage you to look for great deals, which brings us to our next tip.

5. Make use of holiday deals….but don’t get distracted

It’s easy to become hypnotized by deals. Prices drop and we spend more than we intended to avoid missing out on those “crazy, low holiday prices.”
 
Take a deep breath. Make use of these deals wisely by buying items on your list at a discounted price. But don’t be tantalized by the deals to the point that you buy things you don’t really need….or even want.

6. Rethink giving 

We know that the holidays are all about giving – but giving doesn’t need to mean spending money. Don't just run to the mall. Think of other ways to help improve your community, make the world a better place, and truly brighten someone’s holiday.
 
It’s the perfect time of year to volunteer at local soup kitchens, homeless shelters and charity organizations. This kind of giving doesn’t cost a dime, but can be a memorable and significant experience for all involved. To find local volunteer opportunities, click here.
 

2 Post-Holiday Tips 

1. Use those gift cards

Gift cards are a typical holiday gift, but many people forget they have them, and they go unused.
 
Put all of your gift cards in your wallet and spend them creatively. Maybe you don’t like takeout coffee, but you can buy a ground coffee package at Starbucks to use at home. Use that iTunes gift card to rent a movie instead of taking the family out. Whatever it might be, use these gift cards and appreciate them for what they are – money in your wallet.

2. Invest in next year’s re-gifting effort 

In addition to gift cards, you’ll probably find yourself with a bunch of gifts you don’t really want. Some of these can be saved and re-gifted next year or used as birthday gifts throughout the year. Examples include scented candles, bottles of wine, bath products, etc. Even if you don’t actually want it, you can find someone else who does! 

McCoy FCU 12/14/2017