6 Smart Ways to SAVE Money During the Holidays
The holidays are a time to celebrate, connect, and enjoy the people who matter most. But with gift giving, holiday travel, hosting, and end-of-year expenses, it’s also one of the priciest seasons of the year.
With a little planning and a few intentional habits, you can enjoy all the joy of the season without stretching your budget too thin. Here are 6 smart ways to save money this holiday season—while keeping the magic alive.
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Set a Holiday Budget—Before the Spending Starts
One of the easiest ways to overspend is to head into the season without a plan. A holiday budget and focused gift list help you stay in control and prevent impulse purchases.
Start by listing all your holiday expenses, such as gifts, events, travel, meals, decorations, charitable giving, and even small extras like wrapping paper. Assign a spending limit for each category.
A budget doesn’t take the fun out of the holidays, it ensures you enjoy them without stress later.
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Use a Dedicated Holiday Savings Account
Separating holiday money from your everyday accounts is a simple but powerful way to manage spending. A designated Christmas Club Savings account makes it easier to save for the holidays and avoid using funds intended for bills or long-term goals.
Even small automatic transfers throughout the year can add up, making next season’s spending feel more manageable. Seeing exactly what you have set aside helps you stay on budget and spend with confidence.
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Set Gift Limits or Try a Gift Exchange
Gift giving is one of the biggest holiday expenses, but it doesn’t have to break the bank. Many families and friend groups are shifting to setting spending/gift limits or drawing names to keep the holidays festive without financial strain.
Consider:
- Setting a reasonable dollar limit for each person.
- Doing a Secret Santa or White Elephant exchange instead of buying for everyone.
- Agreeing to “family gifts” or one shared experience rather than individual presents.
These approaches keep gifting fun and meaningful, while reducing the overall cost.
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Thoughtful, Not Pricey, Gift Giving
Some of the most memorable gifts have nothing to do with price tags—they come from gifting your time, creativity, or thoughtfulness.
Consider gifting things like:
- Handmade items
- Home-baked treats
- Framed photos or photo books
- Personalized ornaments
- Experience-based gifts like a movie night kit or a local outing
Thoughtful gifts often mean more, last longer, and fit a budget better than impulse buys. If you’re the crafty type, here are some DIY gift ideas for consideration.
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Use Cashback Rewards and Loyalty Points
If you’re already making holiday purchases, it’s worth using reward programs that put money back in your pocket. Retailers, apps, and financial institutions often offer seasonal discounts, cashback incentives, or bonus points during November and December.
Before you shop, check to see if you have:
- Unused reward points
- Cashback offers
- Digital coupons
- Store loyalty perks
Remember to check the rewards on your Members Trust debit and credit cards to see what you can use. Stacking rewards with sale prices is one of the easiest ways to stretch your holiday budget.
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Make Gatherings Potluck-Style
Holiday meals and parties are special, but they can add up quickly, especially if you’re hosting multiple celebrations. Turning gatherings into a potluck helps share the cost and reduce the stress for everyone!
Guests often love the opportunity to bring a dish or dessert, and it makes the celebration feel more communal. It’s a simple tradition that saves money while keeping the spirit of the season strong.
Make This Holiday Season Merry—and Budget Friendly with these 6 smart ways to save money!
With a little advanced planning and creativity, you can enjoy a memorable holiday season without overspending.