This time of year can put lots of extra strain on your budget, from costumes and candy for Halloween, to a turkey that feeds your extended family for Thanksgiving, to decorations and gifts galore for Christmas, Hanukkah, and Kwanzaa.
Saving during the holidays doesn’t just mean saving on various elements of the celebrations. It also means sticking to more long-term savings goals and avoiding accumulation of new debt. America Saves has compiled some tips to help you plan for a fun and fulfilling holiday season while not drowning in expenses.
Buying decorations definitely can save you time, but creating your own or re-using decorations has many perks. For one, it’s an excellent way to spend time together as a family. It also allows you to put more personal touches on your decorations and holiday props – cheers for sentimentality!
One of our favorites for Thanksgiving is this Thankful Wreath from Better Homes & Gardens. For more ideas, check out these decorative expressions of thankfulness from Babble.
Points to this idea for recycling old baby jars. For more DIY Hanukkah decorations, check out this post by Moms & Crafters.
There are endless opportunities to make your decorations reflect the warmth and cheer of your household.
When it comes to holiday spending, the important thing is to stick to your regular monthly budget, with some necessary additions. We all want holidays to be special, but if you create debt in the process, it will end up being more of a headache than a holiday.
If you’re in search of even more savings tips, check out this Saver’s Guide to Holiday Shopping. Or, if you’re in need of motivation to tighten your budget belt during the holidays, listen to these insights from two economists on the impact of holiday spending on the overall economy.
Spending less is just the first part of a successful financial plan. Put away the money you save during the holidays into a savings account for future expenses, both anticipated and unexpected ones. Those with a savings plan are twice as likely to save successfully. Let America Saves help you reach your savings and debt reduction goals. It all starts when you make a commitment to yourself to save. That’s what our pledge is all about. Learn more about how to save money for the future here.
Wondering how your budget will survive the holidays? We've got tips on how to save on decorations, food, and more! http://bit.ly/2ymSU2G