20 Smart Ways To Save Money During The Holiday Season

Last Updated August 8, 2024 by Davina Kelly

Do you want to learn the best ways to save money during the holidays?

The holiday season is a time of joy, celebration and giving.

However, it can also be a time of financial strain as we try to make the season memorable for our loved ones.

I love the holidays. There’s nothing better than enjoying delicious meals and spending quality time with loved ones. 

But, I also have financial goals to consider.

Balancing both was a challenge at first, but I’ve now discovered ways to make it work. 

As someone who is budget-conscious and has become a savvy spender, I will share the best holiday money-saving tips with you. 

In this post, you’re going to learn all about practical ways to save money during the holidays, holiday budget tips and even ways to make money during the holidays. 

After learning all about how to save money during the holidays you’ll be extra prepared to enjoy a stress-free holiday season while staying on track with your financial goals.

This post is all about ways to save money during the holidays.

This post may contain affiliate links, which means we will receive a commission if you purchase through our links, at no extra cost to you. Please read full disclosure for more information.

20 Best Ways To Save Money During The Holidays:

1. Create a Holiday Budget

Creating a holiday budget is the first and most important step in managing your spending during the holidays. A budget will help you plan your expenses, avoid overspending and allocate your money effectively. 

Before getting started, think about how much you can realistically afford to spend without straining your finances. 

Look at your income, expenses and any other financial commitments and see how much you have left over. This will give you an idea of how much you can contribute to your holiday budget. 

Divide your budget into categories such as: 

• Gifts
• Food for parties and gatherings
• Transport and travel costs
• Decorations
• Gift wrapping supplies
• Entertainment/holiday activities

This approach allows you to consider all the items you plan to spend money on during the holiday season and create a realistic budget. It’s also one of the best ways to save money during the holidays and avoid going overboard. 

To ensure you stay within your budget keep a record of your holiday-related expenses. You can use a budgeting app, Spreadsheet or dedicated notebook to make tracking easier.  

Check your progress regularly and adjust as needed. If you find that you’re overspending in one area you might need to cut back in other areas to stay on track. 

2. Start a Holiday Savings Fund

Starting a holiday savings fund well in advance can alleviate financial stress when the holiday season arrives. It will also help you feel prepared and make the process more enjoyable. 

The holidays are a fun time of year. It’s a great time to slow down, spend quality time with family and enjoy delicious food. However, we don’t want to go broke trying to enjoy it all. 

First, determine how much money you’ll need for the holidays based on your budget. This amount will be your savings goal. 

Next, open a separate savings account specifically for your holiday fund. This will keep your holiday savings separate from your regular savings and help you avoid dipping into it. 

It would be ideal to open a savings account 6 to 12 months ahead of the holidays. The longer you have to save, the more money you will have for the holidays. 

However, you can start your savings fund at any time of year. I would suggest giving yourself at least 3 months so you can prepare and avoid feeling overwhelmed.  

Set up an automatic transfer from your paycheck to your holiday savings account. This way your savings are on autopilot and you don’t have to think about it. 

To help you save and prepare for the best holiday season, you can grab my FREE printable savings tracker below.

3. Make a List

Create a detailed list of everything you need for the holidays. This will help you stay organised and ensure that you only buy the items you really need. 

Start by writing down the names of people you plan to buy gifts for and the specific items you want to purchase for them. Also, make a shopping list that includes all the food, decorations and other supplies you’ll need. 

By creating a list you’ll be able to stay on budget because you will know exactly what you need to spend money on.

Once you have your list, it’s important to stick to it. Temptation is everywhere, especially during the holidays and it’s easy to get distracted by sales and deals. But you need to stay focused and ignore items that aren’t on your list. If it’s not on your list, don’t buy it! 

Sticking to your list is one of the easiest ways to save money during the holidays. It’s also a great way to hold yourself accountable and avoid impulse buying. 

4. Get Creative with DIY Gifts

Handmade gifts can be a thoughtful and cost-effective alternative to store-bought presents. They help you reduce your holiday expenses and are one of the simplest ways to save money during the holidays.

Creativity requires time and effort and DIY gifts are a great way to show your loved ones you care by making something special. 

Are you good at crafting? Consider making personalised gifts such as scrapbooks, ornaments or mason jar candles. Handmade cards are also a great option and can be a fun activity to do with your kids. 

If baking is your talent you can whip up some homemade treats like cakes, cookies or gingerbread men. 

Trust me the possibilities are endless when it comes to DIY gifts for the holidays. Your effort and creativity will be appreciated and cherished by those who receive them. 

5. Start Early

Do you often find yourself waiting until the last minute to do your holiday shopping? 

If you want to learn ways to save money during the holidays consider starting early. Shopping ahead of time will help you avoid overspending, skip the last-minute rush and reduce stress. 

I understand life can get busy, but the earlier you start your holiday shopping the more money you’ll save.

By starting your shopping early you can spread out your expenses over several months making it easier to stick to your budget. 

You’ll also have more opportunities to take advantage of sales and discounts throughout the year. 

6. Take Advantage of Sales

Speaking of sales and discounts they can significantly reduce your holiday expenses if you know how to make the most out of them. 

Two of the biggest sales events of the year are black Friday and Cyber Monday and they offer huge savings on a wide range of products. 

These events are the perfect time to stock up on Christmas gifts or treat yourself to something special. 

Also, keep an eye out for other sales throughout the year and don’t forget coupons and promo codes to get even more discounts on your purchases. 

7. Earn Cashback When You Shop

Earning cashback on your purchases is one of the smartest ways to save money during the holidays.  

Sign up for cashback apps and websites like Rakuten and TopCashback which offer cashback on purchases made through their platform.

All you do is select the store you want to shop through and make your purchase like you normally do online. 

When you shop through their site the company earns a commission and gives you a percentage of that as cashback. It’s like earning free money for buying things you’d purchase anyway. 

8. Don’t Go Crazy

It’s easy to get carried away during the holiday season, but it’s important to keep things in check. While it’s natural to want the best experience, you don’t need to go overboard and spend crazy amounts of money to enjoy the holidays.

Focus on meaningful gifts and experiences rather than the number of presents. And don’t feel pressured to match others’ spending. This is one of the best holiday money-saving tips and will help you stick to your budget and financial goals. 

9. Buy Your Food Early

Holiday meals are one of the highlights of the season, but they can also be one of the largest expenses. However, with a bit of strategic planning, you can reduce your grocery bill and enjoy the festive season without breaking the bank. 

Start by deciding on your holiday menu early and make a list of all the ingredients you’ll need. This gives you the advantage of watching for sales on these items well before the holiday rush. 

Stock up on non-perishable items like canned goods, baking supplies and beverages as soon as you see them on sale. 

If you know you’ll need large quantities of certain items consider buying them in bulk. Stores often offer discounts on bulk purchases and any leftovers can be used for meals after the holidays. 

Also, take advantage of grocery store loyalty programs. Many stores offer deals and discounts to members which can add up to substantial savings. 

By buying your food early you can avoid the last-minute rush and inflated prices making your holiday meals more affordable without sacrificing quality. 

10. Use Gift Cards

Using gift cards can be a great way to save money during the holidays and stay within your budget. 

You can earn gift cards or cash by completing surveys on platforms like Survey Junkie, then use them for your holiday shopping to reduce expenses.

Gift cards also make a great gift and allow the recipient to choose exactly what they want. Simply put them in a card and you have a thoughtful Christmas gift ready to go. 

Related: How To Earn Free Gift Cards Online (10 Legit Ideas)

11. Do Your Shopping Online

Shopping online is not only convenient but also a great way to save money during the holidays. It helps you avoid the temptation to make impulse purchases. 

Become a savvy spender by using price comparison websites like PriceRunner to find the best deals on the items you need. And look for retailers that offer free shipping. 

I highly recommend signing up for a FREE 30-day Amazon Prime account to take advantage of their services and save money. 

With this free trial, you’ll enjoy FREE unlimited same-day or next-day shipping, borrow Kindle books at no cost and relax with your family while watching movies and TV shows – all included with your membership. 

You can sign up for your FREE Amazon Prime 30-day trial here. 

12. Save Your Spare Change

Small savings can add up over time and provide a nice boost to your holiday budget. With all the purchases you’ll be making during the holiday season, why not save your spare change?

Use apps like Acorn, Monzo and Moneybox which round up your purchases to the nearest dollar and automatically save or invest the difference. 

Most traditional banks now offer this feature as well so you can effortlessly save while you spend. 

13. Give The Gift of Your Time

One of the most meaningful and cost-effective gifts you can give during the holiday season is your time. 

It’s easy to get caught up in the material aspects of the holidays, but remember the true spirit of the season lies in spending quality time with those you care about. 

Think about ways to spend time with your family, friends, partner etc. It can be simple activities like going for a walk, cooking, watching a movie, baking or doing a shared hobby together.

These experiences create lasting memories without a hefty price tag. 

14. Cut Back in Other Areas

If you want to learn how to save money during the holidays, it’s essential to take a closer look at your spending habits. 

The holidays often come with a long list of expenses from decorations to entertainment. By cutting back on certain areas you can free up funds for what truly matters. 

This may mean temporarily reducing some expenses, but you can always resume them after the holidays. You may even find that you no longer need these expenditures at all.

Consider cancelling the subscriptions you use the least, dining out less frequently and planning your meals in advance to cut back on costs. 

By identifying areas where you can cut back you’ll have more room in your budget for gifts, travel or other holiday essentials. 

15. Entertain at Home

Hosting holiday gatherings at home is more affordable than going out and can be a fun way to save money during the holidays.  

You can host a potluck dinner and encourage guests to bring a dish to share. This will help to lower your food costs while creating a collaborative and festive meal. 

Plan activities that don’t cost much such as board and trivia games, movie nights or holiday-themed crafts.  

Ways To Make Money During The Holidays

1. Get Paid for Your Opinion

One of the easiest ways to make money during the holidays is by sharing your opinion. Many companies are willing to pay for consumer feedback on their products and services.

You can sign up to websites like Survey Junkie and get paid to complete surveys. In exchange for your opinion on various topics, you can earn cash via PayPal. 

Surveys typically take between 5 and 15 minutes to complete so they are a simple and convenient way to earn money in your spare time. 

You can sign up for Survey Junkie for FREE here and start earning cash effortlessly during the holiday season.

2. Make Cash Fast Selling Your Stuff

If you’re looking for ways to make money during the holidays one easy way is to declutter your home and sell items you no longer need. 

We all have things around our home that we can sell. This can include items such as clothes, shoes, old books or electronics. 

Platforms like eBay, Vinted, Facebook Marketplace and Craigslist are great for selling items online. You can reach a wider audience and sell things quickly. 

All you need to do is take some photos of your items, write a description and list your items online.

3. Do Driving Jobs 

If you have a car and some spare time driving jobs can be a lucrative way to earn money during the holidays. 

Driving jobs provide flexible hours and have the potential to earn a lot of money, especially during the busy holiday season.  

Sign up for companies like Uber or Lyft. The demand for ride-sharing services typically increases during the holiday season so you can earn extra cash by driving people to their destinations. 

Food delivery companies like DoorDash, Uber Eats and Grubhub are always looking for drivers to deliver food. There is often a rise in food orders during the holidays so it’s a great time to take on these gigs. 

4. Babysit

Families often need extra help with childcare during the holidays making it a great rewarding opportunity to earn some extra money. 

Reach out to friends, family or neighbours to let them know you’re available for babysitting. The holiday season often brings gatherings and events where parents need a reliable sitter so your services will be greatly appreciated. 

You can also sign up for babysitting platforms like Care.com which connect caregivers with families looking for temporary or regular childcare. 

5. Sell On Etsy

Etsy is the go-to online marketplace for handmade vintage and custom items and craft supplies. It’s also the place most people shop for unique holiday gifts.

If you’re crafty or have a unique talent, selling on Etsy can be a great way to make money during the holidays. 

You can create and sell handmade decorations, custom jewellery, printable wall art, stickers, templates, planners and more.  

You can learn more ideas for things to sell on Etsy below:

21 Popular Printables To Sell On Etsy

25 Lucrative Etsy Shop Ideas

Final Thoughts on Ways To Save Money During The Holidays

The holiday season doesn’t have to break the bank. By planning ahead, being mindful of your spending, and getting creative you can enjoy a festive memorable season without going broke.    

Remember, the true spirit of the holidays is about spending time with loved ones and creating lasting memories, it’s not about how much money you spend. 

I hope you have found this post helpful and now know many ways to save money during the holidays. Which tip will you try? Let me know in the comments below. 

This post was all about ways to save money during the holidays.

Other Posts You May Like:

31 Money Hacks That Will Save You Tons Of Money!

25 Easy Christmas Crafts To Make & Sell For Profit