How to Stretch Your Dollar This Holiday Season
The end-of-year holidays are supposed to be all about taking a break from work and spending quality time with friends and family. Unfortunately, money worries often get in the way of having a truly carefree celebration.
The pressure to spend comes from almost every angle
The secret to saving at the holidays is to be as organized as possible in the months and weeks running up to Christmas, Chanukah, Kwanzaa, and so on.
Making the most of the harvest season starting in September and October can help you save on food. Buying pantry items for all your baking, and purchasing gifts that are perfect for the people on your list as and when you see them, can spread out the cost of the holidays over several months, not cram it all into December.
Here’s a look at some ways you can stretch your dollar this holiday season.
Cutting Food & Drink Expenses
Food and drink can be one of the largest line items on your budget, especially if you are traveling or tend to have a very lively social schedule.
FOOD ON THE ROAD
If you are traveling, each family member will need three meals a day plus snacks and water/beverages. Then there are the holiday meal items you are likely to contribute to as a guest in someone’s home.
Use stainless water bottles for the family. If you are a member of a warehouse club such as Costco, go shopping as soon as you arrive at your destination to get the basics your family needs most and stock the kitchen for your stay.
LUXURY ITEMS FOR THE HOLIDAYS
The warehouses often have gift baskets and luxury food items, especially for the holidays. These can make a great gift and/or contribution to the holiday meal.
Some stores will also stock alcohol, so you can buy beer and wine for a fraction of what you would pay in the supermarket or a liquor store.
If you are driving to your destination, load up the car with your family favorites.
If you are staying at home, chances are you will be hosting a festive meal yourself. Finalize the guest list as far as possible beforehand, but add a few place settings just in case.
Think about including a vegan option as well so you can cater to everyone’s tastes.
BRING FOOD CONTRIBUTIONS
If you are invited to another person's home to eat, it’s customary to bring a contribution to the meal, such as a covered dish or a bottle of wine.
Some meals will be potluck; the host may also request that you sign up online for what dish you will bring so they don’t end up with a dozen desserts and no side dishes.
Bring a disposable pan they can heat and eat in. It’s quick and easy, and you don’t have to worry about getting back your favorite casserole dish.
Baking is an essential part of most holidays, with cakes, cookies, and muffins galore. If you have to bake a lot for family, friends, parties with the kids at school, potlucks, and so on, buy in bulk from warehouse clubs or online.
Candy-making can also be a lot of fun during the holidays and there’s nothing more delicious than homemade fudge.
The treats from your kitchen can often make tasty and affordable gifts if you take the trouble to wrap them nicely. Just make sure your fruitcake is light and moist, not a brick.
COOKING AHEAD
Cooking ahead can help you make the most of low food prices in the run-up to the holidays. For example, vegetables are very cheap at harvest time.
There are also quite a few recipes you can make ahead and freeze. It’s really just a question of how much room you have in your freezer and/or deep freeze. You could space out the cost of all your potluck contributions and side dishes in this way.
Baked goods generally freeze well also, so if you need hundreds of cookies or cupcakes for Christmas, make them in advance and store them in zippered freezer bags until needed. Take them out, decorate as desired, and impress everyone with your fabulous baking skills.
THE COST OF ALCOHOL
In terms of alcohol, this is very much a matter of personal preference and budget.
If there will be a lot of children present, it might be best to avoid having a lot of liquor around, for example. If you do serve it or plan to drink, be sure you have a designated driver or a plan for getting home safely, and be sure to factor in the cost of transportation if you won’t be driving yourself.
It’s important to try to spend quality time as a family during the holidays, which should mean focusing less on food and more on interesting activities.
Let’s look next at how to make these more affordable.
Affordable Activities
Maybe you plan to travel to visit family over the holidays, in which case you would still have to keep the kids entertained while you are there. Or, you might go on a vacation such as skiing, a cruise, or a trip to the theme parks in Orlando, Florida. All of these will cost money, of course, but planning ahead can make them more affordable.
SKIING
There are a number of ski resorts that are all-inclusive and family-friendly. Read the fine print to make sure you are getting the best deal on activities the whole family will love.
CRUISES
Cruises are a great option because you get your transportation, accommodation, meals, and entertainment all in one.
Check to see what activities on board are suitable for your family members’ ages and interests. Also, check the ports of call carefully. Some cruises go to a variety of interesting destinations in the Caribbean and Mexico, for example, while others go to their own private island for all sorts of sporting activities.
Unless you live near a port, you might have to purchase flights in order to reach the point of departure. Check with the cruise line to see if they offer discounted air travel and free transfers to and from the ship.
Note that you can sometimes also get a substantial discount for group bookings for family and friends.
THEME PARKS
Theme park holidays can be a great way to do something different other than the usual Christmas celebrations, but you will need to plan ahead.
You can usually get discounts if you buy the tickets in advance online. Look for multiple-day packages as well, which tend to bring the per-day price down.
I can tell you from experience that if you’re thinking about going to Disney for the holidays you will need to make arrangements a year in advance. We went for Thanksgiving one year and didn’t make dinner reservations. Every place was full and by reservation only so we ended up having a hot dog on the corner of Main Street. Very memorable but not very exciting haha.
LOCAL DEALS AND EVENTS
As for other activities, eating out, and special events, check with discount sites to see what’s available. You can usually get 50% off the regular price and it is a great way to try something new when you are on your staycation.
You can also check your local Pennysaver for listings of interesting upcoming activities, such as at the library, local museums, farms, and so on. Most museums will have at least one free admission day each month you can make the most of.
Check parenting sites like Mommy Poppins for recommendations about age-specific things to do with your children that won’t cost a lot.
MOVIE NIGHT
Going to the movies with the whole family can be a pretty expensive proposition these days. Consider streaming family-friendly videos instead for your own (holiday-themed) movie night complete with your favorite snacks.
You can also subscribe to a premium channel if you wish, as long as you know the whole family will find something interesting to watch.
Amazon Prime has lots of free shows and movies, and its own original programming for people of all ages, so it is also a good option - well worth its annual fee, which gives you free shipping on almost everything you order from Amazon.
FAMILY ACTIVITIES
Doing all the baking and candy making can be perfect activities for children. They love cutting out cookies and decorating them with frosting, sprinkles, and more. Set them up with an apron and various colors and edible decorations, and see what they can come up with.
You can also learn together how to make various fun foods, such as your own personal pizzas with authentic pizza dough, or how to make bread and other items that rise using yeast.
If the weather is cold and snowy, you can head outside to build a snowman, igloo, or ice fort.
You can go sledding or cross-country skiing if you have the equipment for it.
You can also have a good old-fashioned spring cleaning in the winter and either sell or donate unwanted items.
One other obvious activity that’s fun for the whole family is decorating the house for the holidays. Let’s look next at ways to do this affordably.
Ways to Decorate the House Affordably
House decorations inside and out are almost a must for the holiday, but the cost can soon add up if you’re not careful.
There are a number of ways to decorate affordably, especially if you are well organized and you and the children enjoy doing arts and crafts.
SORTING AND MAKING A LIST
The first step is to take out all your decorations and organize them by holiday if they’ve gotten all jumbled up.
The next step is to assess what you have. If it is broken, it’s probably best to get rid of it. Check the lights to make sure they work. The last thing you want is a fire hazard in your home during the holidays.
LIVE OR FAKE?
Once you see what you have, it’s time to make a list of what you need or want.
A lot of families favor a real wreath for the door, a real tree, and various festive plants such as poinsettias, holly, and so on.
The trouble is, they can be expensive and you will literally be throwing money away at the end of the holiday season. The pine needles can get stuck everywhere, including pet paws.
Most of the greenery is treated with a range of chemicals to try to keep it fresh. The tree is also treated with chemicals, and they can leach into the water you put in your Christmas tree stand. Pets can get seriously ill if they drink that water.
Poinsettias can also pose a risk if pets eat them. People who try to keep them past the holiday usually end up with a huge mess due to rotting flowers and a sticky ooze that comes out of the plant.
For all these reasons, silk or plastic greenery might be a more affordable, safer, and neater option.
As for trees, there are so many gorgeous artificial ones, it is really just a case of finding one that suits your budget and lifestyle.
If you have pets and young children, the last thing you want is any glass Christmas balls dangling from a tree that people or pets can pull down or try to climb up.
Fiber optic trees will usually display a gorgeous range of colors, and will not need garland or a lot of fancy balls. Wooden ornaments are sustainable and can be used year after year.
Plastic wreaths are easy to buy or make with the help of a foam wreath form. Children can decorate them as they wish with artificial greenery and other items they can attach, such as ribbons, balls, glitter, and more.
GETTING CRAFTY
Construction paper, cotton, colored pens and pencils, and blunt-edged scissors are just a few of the useful items you can give the children at a craft table where they can use their imaginations to make decorations.
White paper makes great cut-out snowflakes. Printables will give them a range of images to color and use as is, or incorporate into various decorations. Here are a couple of fun coloring pages I just shared yesterday as part of the 12 Days of Free Christmas Printables blog series.
Some people still send Christmas cards. You can use them as part of your décor year after year. Children can even create their own using software or free sites online and then print them out.
A beautiful holiday table usually starts with an attractive centerpiece. Try a bowl with greenery, pinecones, and holly.
TABLE DECOR
The children can also make colorful placemats using coloring pages and a plastic sheet protector.
You can create a decorative table runner, in the same way, taping the short ends together once you’ve inserted the colored images into the plastic sheets.
THE MANTLEPIECE
If you are fortunate enough to have a fireplace, you can all work on a holiday mantelpiece display with pinecones, holly, garland, Christmas stockings, and more.
You could make your own stockings with various materials such as fabric or felt and personalize each so every member of the family has one. If you plan on putting anything in them, be sure you have some sturdy hooks.
AFTER CHRISTMAS SALES
If you want to be super-frugal and patient, wait until the after-Christmas sales to see what you can find. Some stores, like Michaels, Kohls, Walmart, etc. offer their decorations at up to 90% off list price. Think about candles, potpourri, and other small touches that make the holiday a bit brighter.
When you are heading off shopping, never go anywhere without your list of must-haves. We’ve talked about creating one for your decorations.
Now it is time for the all-important holiday gift list.
Keeping Your Gift Giving Within Budget
The most expensive items on your holiday shopping list will usually be the presents you need to buy for the people on your list. But before you go crazy, it might be time to consider some gift-giving rules.
THE FAMILY
Everyone in your immediate family will expect at least one gift if not more. The question is, how much should you spend? And is one enough?
Children will start to ask you for everything they see on TV in the months leading up to the holidays, but remember, if you plan on financing a shopping spree with your credit card, your "bargains" will keep on racking up interest until you finally pay off the entire bill.
It is far better to buy one or two things that will be really valued than a dozen you will have to try to find the cash to pay for.
Children aged five and over are old enough to learn lessons about money and how to manage it. They also understand about making choices.
If you want to stick to your budget this year, it might be time to have these conversations with your family.
BUDGETING
"Budget? What budget?" we hear you ask. This is the most common mistake people make when it comes to holiday spending.
You should have a budget for each of the items we have already discussed in this guide: travel, food, décor, and especially gifts.
Make a list of everyone outside the family you feel you have to buy for, such as friends and work colleagues. Don’t forget the building staff at your office or building where you live, and the mailman.
If you can afford it, estimate $25 - $50 per person — this is less than $1 per week for all they do for you, and many people rely on holiday bonuses like these in order to pay for their own holidays.
If a lot of people tend to buy for each other in the office but it feels a bit awkward and expensive, suggest a Secret Santa and then match up people who want to participate. Picking names out of a hat always works best in my opinion. It helps keep things fair.
If you’re good at arts and crafts and/or baking, homemade gifts could be the perfect way to give a little something to the people on your list without breaking the bank. Last year I made everyone ornaments for their tree and this year I’m working on a family recipe album with a very special apron for my daughter.
SPOTTING THE RIGHT GIFT
It can often be really frustrating during the holidays trying to find the perfect gifts that will appeal to your loved ones. Everyone tends to have a hobby and/or strong preferences about what they would love to receive.
Boys are usually interested in sports, while girls tend to love books, ponies, clothes, and so on. Leaving things until the last minute might mean you come away empty-handed, or manage to find something but end up paying way more than you might have liked.
For Chanukah and Kwanzaa, you would need a little gift for every night of the celebration, so consider a variety of practical as well as fun items. Oriental Trading (not an affiliate) sells a range of cute holiday-themed items, school supplies, party favors, and more, all at affordable prices.
Shop the Black Friday and Cyber Monday sales. There is also Amazon’s Black Friday in the summer, and Amazon Prime day on July 16th every year if you are trying to bag big bargains.
By starting early, you have a better chance of getting good deals. The main thing is to check the item off the list and then stop. You’ll also need some good hiding places until the holidays…which might be the hardest part!
Other expenses related to gift-giving include wrapping paper, tape, gift bags, and gift boxes. For your own family, you could use brown craft paper and let the children create their own designs.
Gift bags and tags are a good option because they can be reused either in your family or by the person you are gifting.
GIFTING YOURSELF
Some people love to be surprised and receive presents. Others are more practical and might ask for a specific item from their spouse or family. Still, others are really frugal and shop the after-Christmas sales. After all, why pay more than you have to for something that drops in price a day or two later?
A lot of unwanted presents do get re-gifted, so this is another viable option if the item is nice and not too obviously intended for you.
Some people donate their unwanted presents to the Salvation Army or other thrift stores, so it’s possible to get some real bargains once the holidays are over.
Make your list, check it twice, and try not to be naughty when it comes to spending, and the holidays should be a lot more affordable this year provided you stick to your ground rules.
The holidays can be a wonderful time of year provided that you don’t feel compelled to spend a lot and feel miserable because you think you are broke. And you really will be miserable if you allow yourself to go over budget in an effort to please everyone.
Set your budgets early and pace your spending on the essentials so not all of the shopping will fall in the month of December, and you should be able to stretch your dollar further than ever.
Here’s to a happy holiday season!
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The beginning of your planner is all about setting goals and preserving your holiday traditions and maybe creating some new ones.
The next step is to create your holiday budget. It’s very important to do this step before you start dreaming about gift ideas, new decorations for your home, and the events you want to attend with your family.
The baking and menu sections of the Christmas Planner are perfect to plan everything from appetizers to desserts. And if hosting a cookie exchange is on your list of things to do this year then you will love the baking section of the Planner! There's a printable guidelines sheet for you to include with your invitations, a complete checklist so you don't miss a beat, and a cute printable to help you decorate the cookie table.
So, are you ready to get organized and have your best Christmas ever?! Get the Christmas Planning Workbook today!
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BEFORE YOU GO:
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