Holiday Saving Tips

cheerful women watching video on smartphone sitting on sofa near christmas tree in room
Photo by Julia Larson on

The holidays are a wonderful time of the year for family and friends. With the temptation looming to spend money on Black Friday deals, Thanksgiving feasts, and Christmas presents, saving money seems almost impossible. Here are some great ways to save money during the holiday season.

Make a Budget

Create a budget that is both realistic and has some wiggle room. Holiday spending has a lot of unexpected costs from traveling, donations, parties, and miscellaneous items that quickly destroy a tight budget. Think carefully about each purchase to determine if it is essential. The extra gallons of eggnog can stay on the shelves this year.

Host a Potluck

Let’s face it. Food is one of the main things that we look forward to during the holiday season. Cooking for some families is an event that takes many days and weeks of preparation. Save a headache and your wallet by throwing a potluck. You can make the main dish, but have your family and friends bring all of the appetizers, side dishes, desserts, and drinks. This strategy gives everyone an opportunity to try a variety of dishes and cooking styles. You will be surprised how much money you save by hosting a few of these potlucks.

Electronic Cards

Sending an electronic card to all of your acquaintances can be an easy way to save some extra dollars during the holiday season. They are a cute alternative to the cliche holiday card.

Alternative Traditions

Family traditions should be about the time you spend with your family and not the money. There are a lot of activities that you can do with your family that are inexpensive and can develop into great family traditions. Some ideas include caroling, baking, sled riding, and touring the town looking at Christmas lights.

Order Online

Ordering gifts online can be a great approach to avoid being sucked into overspending. Before you start clicking away, create a list with exactly what you need.


Stores want your business, and they will provide lots of coupons during the holiday season. You can search online for coupons to practically any store and print them in the convenience of your home. Start couponing and watch that bank account stay intact.

These simple tips will ensure that you are enjoying quality time with your family and friends without added financial stress.
Remember, if you find yourself in a time of temporary hardship, a short term loan may help lessen the burden over the holidays. BMG Money’s payroll loans work with your employer’s existing payroll system, and are a great alternate for those rebuilding their credit as well.