The holidays bring family, friends, and gifts. The average American spends over $900 on holiday purchases, and it’s easy to lose sight of budgeting when seasonal cheer takes over.
It’s challenging to stay on track financially during the holidays, but several strategies can keep your spending in check.
Separate Account
Open a dedicated holiday spending account. Automatically deposit a fixed amount with each paycheck so the money sits untouched and separate from everyday spending.
Critical: ensure this account has no overdraft protection, so overspending won’t tap your savings.
Promo Codes and Cashback Sites
Cashback shopping sites reward you for purchases you’d make anyway. Ebates offers rebates between 1% and 25%, depending on the retailer and promotions. Simply shop through their site to find available promo codes.
Ibotta works differently: browse offers before shopping, complete a “task” (like watching a product video), then scan your receipt after purchase. Rebates can be sent to PayPal or donated to charity.
RetailMeNot quickly searches for promo codes across popular retailers. Always worth a quick check.
Buy at the Right Time
Don’t assume Black Friday is the best time to purchase. Items go on sale at different times depending on manufacturing cycles and inventory levels.
For example, car dealers cut prices on current-year models in August to make room for next year’s inventory. If you track seasonal sales patterns, you can spread holiday shopping throughout the year and capture savings along the way.
Side Hustle
Earn extra holiday cash through part-time work or a “side hustle” you can do from home. Freelance roles like graphic design, online marketing, or virtual assistance offer flexible hours.
Retailers also hire seasonal staff during the holidays, offering both extra income and employee discounts on gifts.
Keep your spending intentional, take advantage of savings opportunities, and enjoy time with family and friends. Proper planning makes a stress-free holiday season achievable.
