Looking to save some money for this upcoming holiday season? Not sure how you are going to make ends meet with gifts, decorations, and festivities in December? Start saving money now to build up funds fast for the holidays. Here are 10 ways to save money for the holidays.
10 Easy Strategies to Save Money Fast For the Holidays
1. Set Up and Keep a Budget
Track your income and expenses. When you keep record of your spending you are likely to spend less, or at least not spend more than you should.
2. Save Money Each Paycheck
Put a specific amount of each paycheck away for the holidays. For example, if you get paid twice a month and each paycheck you put away $50 – by December you will have $1100. This is more than you should need to have a nice holiday. If you are starting now you may have to save more each paycheck, but this will help you save money for the holidays.
3. Put Work Bonuses Towards the Holidays
If you get a work bonus throughout the year put that extra money away in savings for the holidays.
4. Stop Unnecessary Purchases
Give up or cut down on items you really don’t need. Do you really need that Starbucks run each week? Don’t go out for coffee, make your own. Do you need those premium donuts and desserts from the corner bakery on Saturday mornings? Maybe cut down on the expensive wine on the weekend. Buy less clothes, accessories and make up. Find ways to cut back on unnecessary items.
5. Eat Cheap Meals at Home
Eat cheap meals at home instead of buying steak, ribs, expensive meats or frozen entrees. For example, have sandwiches, cereal, pasta, and in season fruit and vegetables more often as meals. Use grocery store ads and sales to help you plan cheap meals. Think about your cost per meal per person when you are meal planning.
6. Limit Restaurants & Take Out
Limit how often you go out to eat or get take out. If you normally go to a restaurant or order take out twice a week cut down to once a week.
Another way to cut spending to save for the holidays is to only eat out/get take out when they have specials, deals, or if you have a coupon. For more ways on how to eat out on a tight budget click here.
7. Have Fun at Home vs. Going Places
Instead of spending money going to places or events go the free route or do fun things at home. For example, instead of going to the movies have a movie night at home. Instead of paying to go to an amusement park go to a free park or playground. Instead of paying for games at an arcade have a game night at home. Here are 50 fun activities you can do at home.
8. Save Money Fast By Becoming a Smart Shopper
If you plan ahead and take a little extra time, you can save money fast by becoming a smart shopper. Smart shoppers compare prices, buy things on sale, buy generic vs name brand, and use coupons.
In addition, make better choices when you are shopping or browsing. Be conscious of your spending and ask yourself “do i really need this”. If you are thinking of buying something, hold off at first. Then a week or so later, if you still want it – get it if it is in your budget.
9. Keep Your Heat Down
Keep your house a couple degrees cooler to help save money for the holidays. Make sure your thermostat is lower during hours you are not home. Set your heating system on a timer so you aren’t over heating an empty house.
10. Make Some Extra Cash With a Side Hustle
Another way to save money is to make more money. One of the easiest ways we have found to make money fast is by selling things around our house we do not need. We list items on facebook and other marketplace groups in our area.
Sell items you do not use anymore like clothes, toys, and furniture. In fact, when we get new electronics, furniture, etc. we sell the old ones to help pay for the new items. Furthermore, we have the kids pick 3 toys they don’t use/play with anymore and sell them before a new batch of toys comes in during the holidays.
Final Thoughts on Saving Money For the Holidays
The holidays can be an expensive time of year. If you are looking to quickly save money try these 10 techniques to get extra cash in your pocket. Besides saving money for the holidays, try cutting your spending during the holiday season. One big way to save money during the holidays is to change what you do for Christmas presents.