How to Actually Save Money For the Holidays

by | Nov 15, 2021

It’s universal: the holidays are famous for being a top expenditure every year. If you feel the pang of fear as soon as November hits, you are definitely not alone. Nearly 1 in 3 Americans are expecting to go into debt during this Holiday shopping season. No matter how much you love to celebrate the Holidays, there’s no doubt that this time of year can cause spending overload. But it doesn’t have to be that way. Learning how to save money for the holidays is not only possible, I’ll show you how to do it without losing your cool. 

Prepping your mind and your money for the busy holiday season now can help you protect your financial future. Yes, you CAN get your $hit together in advance and use some savvy techniques to create a plan that will work for you. 

How to Save Money for the Holidays

Make a Holiday Spending Plan 

First things first—When it comes to the holidays, before you can plan to save, you have to plan to spend. What does that mean exactly? We know we are going to spend money during the holiday season, and we know it’s going to be more than our normal day-to-day spending. So, we may as well plan for it. Saving for the holidays starts with figuring out exactly how far you need your money to go this season. Then, save to spend your hard-earned money without guilt. 

Establish spending buckets for all of the important, meaningful parts to your holiday. Think about things like holiday parties, special foods and drinks, family presents, and any other holiday traditions you have every year. Figuring out what your absolute must-haves this season is a great place to start. As for gifts, setting a clear list and dollar limits from the start can provide a framework to keep yourself both organized and within your scope. 

Once you map out your holiday money expectations, you can figure out how much you can spend without wrecking your financial stability. It’s easier to say no to temptation when you have a clear idea of where your holiday money needs to go! 

Prep Your Mind and Your Wallet for the Holidays

Making a plan is just the beginning. Staying committed to it when temptation strikes is the kicker! Sticking to your plan isn’t always easy, especially during the holidays when it seems like everyone is spending money. But making that commitment to your money will be worth the effort once January rolls around. To keep you mentally focused on spending wisely this Holiday season, here are a few tips to keep in mind:

  1. Autosave for the Holidays. If you love the Holidays and spend money every year to celebrate, my best advice is to plan for those moments by saving your money throughout the year. Prepare yourself for a heavy spending period by autosaving a part of your paycheck every month. This way, when the holidays roll around, you won’t be worrying about the money.  
  2. Don’t rely on credit. No one is going to prefer a gift that puts you in the hole (plus interest). Instead, get creative with your gifts and your money. Consider homemade gifts this year, or shop local to support small businesses. Look for other areas in your monthly expenses that can be shaved off, even if it’s just temporary. Slide those funds over to your holiday spending buckets instead. Every little bit counts! 
  3. Go easy on the guilt. The holidays are famous for bringing out feelings of inadequacy, FOMO, and lots of other negative feelings. Set your intentions now to have a peaceful Holiday season. You don’t have to go to every Holiday party! Remind yourself of your financial goals to stay grounded and focused. 
  4. Find your tribe. If you are struggling to stay focused or get your money under control alone, then don’t go at it alone! When you have a support system backing you up, those feelings of guilt, FOMO, and struggles to save become a little bit easier to handle. You got this, and you need someone to remind you of that every once in a while.

It’s absolutely possible to get through the holidays intact—so, you can stop white-knuckling your mug of cocoa the minute you hear jingle bells. Share your holiday goals with people you trust and give yourself the wiggle room to support your holiday spending plan guilt-free!  

Find Your Tribe

Changing your financial future means paying attention to your money habits NOW. And that includes the busy holiday season. I know how hard it can be when you face financial problems alone. But the good news is that you don’t have to! If you are looking for help getting your $hit together or getting tools to save money for the holidays, join my tribe and take my Money Mindset prep course today. 

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