5 Ways to Save for the Holidays!

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Is this year been a year or what? Let’s make the end of the year better than the middle of the year by saving for the holidays earlier than later. Come along with us as we share 7 ways to save for the quarantine holidays!

Holidays are always the best time of year. It is time to spend with family. Eat a lot of good food. Give gifts to your friends and family. Share blessings with each other. Be thankful and celebrate the birth of Jesus Christ! This holiday season may be a little different since we are to be social distancing still and not travel too far, but lets dive into saving money for this quarantine holiday.

1. Set aside money now

It is still early and you can still set aside money now.  8 weeks until Christmas! With each paycheck until Christmas you will want to make sure you set aside a little bit of money. $100 for 8 weeks is $800 spending! Too much? Slim it down. 25 slots to fill in make it $20 per Christmas decor equals $625.

2. Look for Deals

This is my favorite.  

Looking for deals and with 2020 being so wacky I am sure there will be good deals because less people are buying a lot of items.  I want to share a few Instagram accounts with you that I follow that I love for a good deal or DIY.  @themoneysavingmom and @dayswithgrey.

Deals have even started earlier because of the pandemic. The stores realize a lot of people are unemployed, so they want to spread out the sale to allow for more time to shop. This also means that this helps you if you have not been affected by the pandemic.

Those emails you have been ignoring in your promo inbox. Now is the time to start looking at them for the holidays! Get the good deals and save money!!

Do not go too crazy though! Let’s stay within your means.

3. New year new goals! Try a new tradition! Only buying 4 items per child (Wear, Read, Need, Want)

My husband and I have agreed we were going to do this.  

Mostly for me, because as you will read later on. I am my mothers child and I do love to shop for my kid.  We are going to stick to this plan for spending.  4 presents. One to wear, one to read, one they need, and one item they say, “I want”. This way it stays controlled and not over do it. Because I don’t know about you, but I only remember a few of my gifts I received.  I do remember taking a photo of all the presents I got for Christmas and posting them on social media.  Does anyone else? Or was it just my small town?

4. Set a budget for each child and track spending

Setting a budget can help you save money! No more of the mindless spending for each kid or losing track of what you spent on which kid.  I know, my mom used to do this! We used to have huge a Christmas!  But when you budget and track it allows you to have a purpose and planning always makes for a great way to save money!

Talk to your spouse and agree on an amount you can afford to spend. If it is $100 per child, then it is $100. Not $105! Do not go over.

5. Use Christmas envelopes and keep the receipts in there

A perfect way to keep track of your Christmas spending and save money while doing it is to buy printable cash envelopes and use them to budget.  You are able to keep the receipts in the envelopes and when you need to return for a bigger or smaller size. Woohoo! All the receipts are right there! Double Whammy! 

If it helps get an envelope you have around the house and put each kids name on a different envelope. When you buy something for one kid, place the receipt in the envelope and subtract from your budget. It will look a little like this.

Also, don’t let your kids find out that you do this either because they will be in your purse looking for what they got for Christmas! You could easily hide these envelopes somewhere and add to it once you get home. This way you will also have all the items together!

BONUS 6 and 7

6. Talk about giving instead of getting this Christmas

What a fun way to change the time of year!  Look to give to a local charity or give your time to a food bank.  There has been a lot that has happened in 2020, so why not give to those who are in need.  If you are in need, there are still ways to give your time and the items you can repurpose around your home like the sweater you have not worn for years.

7. Don’t do gifts at all — virtual holidays!

I understand what you are all thinking when I say that, but really.  My sisters and I have done this for a decade now.  My older sister was in college and I was in high school, and my little sister was just getting into middle school. We decided to not give each other presents, but just to enjoy each other’s presence. Now, we all live in different states and instead of sending gifts still we Facetime each other and enjoy each other this way. This is a good virtual transition to make. Make small changes of course.

This will help you in your budget if you have not planned for Christmas gifts.  We do not want you to buy gifts and put them on a credit card and not pay it 100% off even with a 0% interest offer!

Enjoy these saving tips for your holiday. Let us know which one you will be doing this year!

Like this if you are going to use one of these tips to stay on budget.

Pin it if you did not think of the envelope idea to stay on budget.

Pin it if you are celebrating quarantine holidays this year.

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