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5 Ways To Save Money During The Holidays

December 4, 2019 It’s no secret that the holidays are a time of increased spending. Last year, alone. But if you plan your holiday spending with your financial goals in mind, you can keep your holiday jolly and still continue to save money. Read on for tips to keep some of your money in your stocking this year.

1. Track your holiday spending.

Make a list and check it twice. Start with a holiday budget and track your spending to see how it’s adding up. If you snagged a great Black Friday deal, you may be able to pocket the difference between that cost and what you were planning to spend in your . Also, If you’ve been saving regularly leading up to the holidays (you go, girl!), challenge yourself to keep up your regular savings contribution all the way through the holidays and into the new year. A gift to yourself, so to speak. If you plan ahead and spend wisely, you might not even miss that extra money you tucked away for later.

2. Get creative with your holiday décor.

It’s easy to get caught up in all the sparkly holiday décor you see at the stores (we’re looking at you, Target), but try to keep your spending to a minimum. If you’re longing to add something fresh to your collection this year, you could look to the great outdoors for inspiration. Pinecones, branches and twigs can be utilized in displays that will create a cheerful and natural holiday atmosphere. You can also shop thrift stores for used décor at lower prices.

3. Prioritize your favorite holiday festivities.

You may be feeling pressure from family members, friends or coworkers to attend EVERY event of the season. The holidays should be a time to celebrate, but it’s okay to check in with yourself (and your budget) to make sure your priorities are in line. Ask yourself which holiday activities and events make you feel the most joyful and refreshed and reserve your budget for those. Any extra money can be deposited in the “me” fund. #SorryNotSorry

4. Reduce the cost (but not the fun) of giving gifts.

Switch up your traditions and try a Secret Santa or White Elephant gift exchange. Gift exchanges can reduce everyone’s burden without taking away from the spirit of the occasion. You can make your exchanges even more fun by setting a theme or challenging each other to see who can come up with the quirkiest gift. Challenge accepted!

5. Give back to your community.

Take your challenge one step further and skip the gifts altogether. Instead, you could make a collective donation to a cause that matters to you, or you could volunteer at a local shelter or kitchen that serves holiday meals. Ultimately, the holidays are about making memories with the people you love and giving back together will be a memory you can all feel good about. With a little planning, you can enjoy the holidays without draining your entire budget, and you may even be able to SAVE during the holidays. It’s a Christmas miracle! You might also be interested in Financial success isn’t how much money you have — it’s feeling good about what you’re doing with the money you have. Here are some tips on how to prioritize your debts and bills, negotiate with creditors and get your late payments back on solid ground. Even in these challenging times, there's  whole lot of good happening! At Summit, we've always believed financial success happens together and that's been truer than ever this past month. Here's what "together" has meant for our community. Navigating finances after college is hard, but you can take it one lesson at a time. Get tips for managing money and paying off student debt after graduation. Navigating finances after college is hard, but you can take it one lesson at a time. Get tips for managing money and paying off student debt after graduation. If you’re not sure if something is a scam, it’s ALWAYS better to act like it could be! Fraudsters are always coming up with creative new ways to steal from you and quick to take advantage of a crisis. Here are some of the most popular recent scams to watch for. With a little planning, you may be able to actually save a little money during the holidays. Check out these tips to keep costs down without missing out on the holiday fun. Some scams go right for your money; others try to get you to part with personal information – like account numbers, Social Security numbers, passwords, and personal identification numbers (PINs). Find out what you should look for and how to protect yourself. The holidays can be stressful & that’s why it’s important to prioritize your self-care. Use these tips to reduce stress without draining your bank account. Your home is your castle, your refuge and—let’s face it—a place where it can be very easy to sink a big chunk of money. Which is why you’re always on the lookout for “sweet spots”:  those home improvements that add comfort, safety or a little zing of style while you’re living in your house and will boost the asking price when it’s time to sell. And if you can find a way to save money on those improvements or cut home expenses at the same time, well that sweet spot just got a little sweeter! Featured Products Certificates Checking Accounts Home Equity Loans Home Loans Business Banking Certificates Checking Accounts Home Equity Loans Home Loans Business Banking Financial Education Upcoming Events Programs Tools & Calculators On-demand Webinars Podcasts Upcoming Events Programs Tools & Calculators On-demand Webinars Podcasts About Equity in Money™ About Summit Careers News Community Giving Equity in Money™ About Summit Careers News Community Giving Help & Support Contact Us Member Support Center Schedule an Appointment Find a Branch Contact Us Member Support Center Schedule an Appointment Find a Branch Please read the following before proceeding to: The website you are about to visit is solely the responsibility of the merchant or other party providing the site. The content of this third-party site, including materials and information, is solely the responsibility of the provider of the site. The Credit Union is not responsible for any such third-party content. Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. The Credit Union Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of the third-party site. NCUA Insurance Estimator Privacy, Security & Accessibility Rates, Fees, Terms & Disclosures Routing Number *  The Wisconsin's #1 Mortgage Lender designation is based on the number of loans in 2022, gathered from the Home Mortgage Disclosure Act data compiled annually by the Consumer Financial Protection Bureau. The results of the data were obtained through the LEI: 254900NTAC4H10MGSU23 **  SBA Lender of the Year Award for Credit Unions as awarded by the Small Business Administration of Wisconsin in 2023. Copyright 2024 © Summit Credit Union. All rights reserved. If you are using a screen reader and are having problems using this website, please call 608-243-5000 for assistance. Insured by NCUA