Easiest Ways to Save Money Over the Holidays

Sticking with a budget and saving money over the holiday season can be a challenge, especially if you’re responsible for buying most of the gifts for family members, friends and colleagues. It’s easy to overspend during the busy holiday season because retailers offer some great discounts and bargains on many high-priced items for only a few weeks. Still, there are some easy ways to save money and still buy what you want and need for your holiday gift list.

Use some of these tips to save money over the holiday season:

1. Pay with cash whenever possible. One of the worst things you can do when trying to save money over the holiday season is to buy everything with your credit card. Credit cards can make it easy and efficient to get your holiday shopping done, but this strategy also makes it very tempting to overspend. When you spend cash, you become more aware of the dollars that are going out of your account. Commit to spending cash whenever possible and you will find it that much easier to save money over the holidays!

2. Set a weekly, not monthly budget. If you’re planning to purchase lots of gifts, holiday décor, specialty foods and other items during the busy season, allocate some money for your purchases on a weekly basis, not monthly. Making a monthly budget makes sense during the rest of the year when you know what types of living expenses you need to budget for. Since many holiday expenditures are extra – and may be coming out of your savings account – set a spending goal so that you are more conscientious about what you are spending and can save more money week after week.

3. Do your homework. Make sure you really are getting the best price on those special deals and offers during the holiday season. Even though it may look like something has been marked down significantly, the current market price of the product may already be pretty low. Check online and compare prices on the item from multiple retailers and sellers so that you can make the most of your purchase and even save some money!

4. Monitor your electric bill usage. All of those lights and electronics you’re using over the holiday season may be costing you more than you think. Make sure you are keeping energy costs down by purchasing energy-efficient bulbs, heaters and cooling systems. Set your holiday lights on a timer so that you are not wasting electricity overnight, or when you’re away from home.

5. Map out your shopping routes. Your gas costs and transportation costs might reach an all time high during the holiday season because you are probably going to make multiple trips to the store. Map out a shopping route so that you aren’t making unnecessary trips and are able to get to many stores in one day. This strategy can help you save money – and stress – during the holidays and make it easier to keep transportation expenses low.