Between travel plans and gifts for everyone on your list, you’re a pro at making the season festive and bright. If you’re maxing out your budget to bring joy to everyone else, you’re not alone. Last year, Newsweek reported that Americans could spend over $2,000 during the holidays and while many budget for this time of year, 65% of those surveyed mentioned they are still stressed about spending.
All too often there are costs you don’t plan for. We’re talking about the holiday incidentals: home décor, Secret Santa and host gifts, wrapping paper… many fun and festive things that aren’t accounted for in your budget but can definitely stretch your financial limits.
Let’s explore some practical ways to brighten the holidays without breaking your budget.
Home décor
Don’t toss out last year’s cornucopias, ceramic trees, and wreaths! Having a cache of holiday décor is a great way to avoid spending extra on these minimal-use items. As you are packing them up, make a note of items you may need to replace and add the replacement cost to next year’s budget!
If you need a refresh for themed décor, consider hitting up some local markets or vendor fairs. You may find some excellent one-of-a-kind treasures and support your local small businesses!
Gifts
By the start of November, your calendar may be getting filled with dinners and get-togethers that will last through the new year. An item you probably don’t think about, let alone budget for is the host gift. You can’t show up empty handed, can you? If you feel like you can’t… consider how your host gifts can blow through any well-crafted holiday budget! Here are some low-cost ideas:
- Flowers
- Food items like homemade bread or local jams or honey
- Personalized gifts like a cutting board or coffee mug
- Candles
- A thoughtful thank you card
Hosts are happy for your presence, but a little something from the heart can go a long way. Homemade cookies or bread, fresh flowers, or small, local items can be low cost and thoughtful.
You can also get creative with once-loved items from thrift stores or antique shops. Consider a low-budget gift exchange with friends or family to find the most creative gifts!
Gift wrapping
Maybe, like your décor, you’ve saved up some gift bags, ribbons, and tissue paper. If you haven’t, a little creative license can go a long way!
Paper bags from grocery stores, newsprint, and fabric can make great gift wraps! If you have children, have them get creative with some paint or markers to add a little personality to the wrapping. Need some extra help? Check out these creative gift wrap ideas.
Don’t forget: Many stores offer free gift-wrapping, so if you find yourself out buying something, ask about these services to save yourself some time and money.
Extra Holiday Tips:
- Set a budget for these “extra” categories and stick to it or use a cash-only system to avoid overspending.
- Utilize reward points and cash back opportunities from your cards.
- Got some gift cards lying around? Use those to purchase gifts, food, or other holiday items.
- Crowd source! Potlucks, ornament-making parties, and other low-key, collaborative events can alleviate stress and be tons of fun!
With some additional planning and creative license, you can avoid a financial holiday hangover and maybe create some fun traditions for years to come.