How To Save Money During The Holidays (It’s Simpler Than You Think!)

By Minh Tong Reviewed by Nima Vahdat Updated Nov 30, 2023
How To Save Money During The Holidays (It’s Simpler Than You Think!)

By being aware of social pressures and your own financial limits, it’s possible to have a meaningful holiday season while saving money.

This time of year can be filled with joy and cheer, but it can also end up being a financial burden for many people. With gifts to buy, parties to attend, and trips to take, the holiday season can quickly add up in costs. 

However, with some planning and budgeting, you can still enjoy the holidays without breaking the bank while still building lasting memories.


  • Saving money during the holidays is possible with simple and free activities.
  • Get creative with entertainment and make low-cost gifts for friends and family.
  • Remember to use your credit card responsibly and stick to a budget.
  • Removing yourself from societal pressures can help avoid debt during the holiday season.

Magical Experiences vs Material Objects

The first point to keep in mind is that the best memories and experiences do not necessarily come from extravagant gifts or expensive parties. Studies have shown that often people remember and cherish experiences more than material objects.

However, this does not mean you need to book an expensive trip or attend the most lavish party. Instead, get creative and plan budget-friendly activities specifically crafted for your children and other loved ones. 

For example, if you know your child has a special place in their hearts for the art of figure skating, take them to the local ice rink for a day of skating.

Avoid Comparing Yourself To Others

Another important factor to keep in mind during the holiday season is to avoid falling into the trap of comparing yourself and your experiences to others. Social media can often portray an idealized version of the holiday season, making it easy to feel inadequate in comparison.

Even neighbors may brag about their extravagant holiday plans or expensive gifts, but it’s important to remember that everyone’s financial situation is different and what matters most is the memories you create with loved ones.

If traveling abroad makes you and your family miserable or buying expensive Christmas decorations is not in your budget, don’t feel pressured to do so just because others are. You can always plan a day of snowman building or travel to local holiday light displays instead.

Visit Food Banks and Buy In Bulk

Now that we’ve gone over some mindset tips to help you save money during the holidays, let’s dive into some practical strategies. One of the best ways to cut down on costs is by visiting food banks and buying in bulk.

Food banks often have a variety of holiday staples such as canned cranberry sauce, boxed stuffing, and even frozen turkeys available for those in need. Don’t be afraid to utilize these resources and save money on your holiday meal.

You can also save money by purchasing items in bulk, especially if you’re hosting a large gathering. Warehouse stores offer discounts for buying in bulk and it can make a big difference in the overall cost of your holiday feast. 

Just make sure to plan out your menu beforehand so you don’t end up with unnecessary excess.

Get Creative With Gifts

Gift-giving is a major part of the holiday season, but it can also quickly add up to a hefty expense. Instead of buying expensive gifts for everyone on your list, get creative with your gift-giving and save money in the process.

One idea is to make homemade gifts such as baked goods or DIY crafts. Not only will these gifts be more meaningful, but they will also save you money on store-bought items. 

With effort and thought, you can create unique gifts. Cookies with an inside joke or a personalized ornament are just a couple of ideas to get you started.

As mentioned earlier, experiences and memories are often more valuable than material possessions. 

To use this concept, you can create a magical experience with naughty elves (when you move the elves around at night while your children are sleeping) or have Santa write back to your children. 

Rather than simply buying the most expensive gadget or toy on your child’s wish list, think about how to present it in a creative, memorable way.

Prepare Activities That Are Educational Rather Than Extravagant

Although it may be tempting to splurge on extravagant activities during the holiday season, such as trips to theme parks or expensive shows, many low-cost alternatives can still be educational and fun for the whole family.

For example, you can take baking classes if you have a daughter who loves to cook, or you can take your son to the local ice rink and practice your slap shot together. The idea is to cultivate your passions while also supporting the road to mastery that your loved ones are on.

This can be an exciting time of year to try learning and discovering new things together. Although some passions may require spending money, you may also be surprised to find that simple and free activities can also bring new pursuits to light.

Utilize Credit Card Cash Back Rewards

Another helpful tip for saving money during the holidays is to utilize credit card cash-back rewards. Many credit card companies offer a percentage of cash back on purchases made with their card, which can add up quickly during the holiday shopping season.

However, it’s important to remember to use these rewards wisely and responsibly. While it may be tempting to splurge on gifts with your cash-back rewards, it’s important to stick to a budget and not go overboard. 

This is because if you are allured by the sales and deals that are associated with the holiday season, it can be easy to overspend and end up in debt. Sales can save money but they can also influence us to buy unnecessary items.

Consider Debt Consolidation

If you find yourself in debt after the holidays, it may be a good idea to consider debt consolidation

This is a process where multiple debts are combined into one single loan with a lower interest rate. Holidays are a common time when people overspend and position themselves in potentially dangerous debt.

However, by consolidating your debts into one loan with a lower interest rate, you can save money on interest and make it easier to manage your payments. 

This way, you can start the new year with a plan to pay off your debt instead of feeling overwhelmed and stressed about how to manage multiple payments.

At Americor, we understand the importance of managing your finances wisely. 

As America’s trusted source for debt relief solutions, we aim to empower you with financial knowledge that can lead to informed decisions, whether it’s about savings, investments, or managing debt.

If your debt has become unmanageable and you have difficulty making your debt payments each month, then you should consider a free consultation call with one of our certified Debt Consultants, who can provide personalized advice tailored to your specific needs.

By taking proactive steps today, you can put an end to your financial stress and work towards a brighter financial future. 

Remember, there is always hope for debt relief, and our team of experienced professionals are ready to guide you on your journey to regaining control of your finances.

For more information on Americor’s debt relief services, contact us today to see how we can help you eliminate your debts, and get on the fast-track to becoming completely debt-free!



Minh Tong

Minh leverages decades of experience in marketing, sales management and technology to provide high-level advice and lead new initiatives. Minh has a Bachelor of Science in Business/Managerial Economics from University of California at Irvine. He brings over 20 years of sales and executive management experience to the company and his responsibilities include customer service improvement, professional development, and carrying out communications and marketing. Originally from the east coast, Minh resides in southern California and enjoys spending time with his family, going to the beach, and playing a variety of sports.