The holiday season is here, and for a lot of people, that means spending a lot of money. The cost of gifts, decorations, and food really adds up. But there are so many ways to save money for the holidays. In this blog post, we've compiled a list of twenty things you can sacrifice to maximize your Christmas budget.
1. Eating Out at Restaurants
Instead of going out to eat, try cooking meals at home to save some extra cash for the holiday season. You can save a lot of money by planning your meals ahead of time and buying groceries in bulk.
2. Expensive Coffee Drinks
Buying fancy coffee can be really expensive. Make your coffee at home instead of indulging in fancy drinks at a coffee shop. A coffee maker and beans will come up to a fraction of the cost of stopping at a coffee shop daily.
3. Buying New Clothes or Shoes
You don't need to spend a fortune on new holiday clothes every holiday season. To save some cash for other holiday expenses, try shopping at second-hand stores and thrift shops for clothes and shoes.
4. Cable or Streaming Subscriptions
The cost of cable and streaming subscriptions can quickly add up. Instead of paying for these expenses during the holiday season, you can give up these services for a few months to save some cash.
5. Going to the Movies
Have you seen the cost of going to the movies recently? Instead of going to the movies, try renting or streaming online. You could have a movie night at home with friends and family.
6. Gym Memberships
The monthly membership for the gym is quite expensive. Instead of paying for a gym, try working out at home, running, or hiking. There are several free videos online you can follow.
7. Buying Books or Magazines
Buying new books and magazines is a luxury that can be given up to save money during the holiday season. You can access several free books online and at the local library if you want to.
8. Buying New Electronics
There's no reason to invest in new electronics if you're trying to save money. But if your devices are broken and need to be replaced, look up refurbished or used items instead. You can save a lot of money and still get a great product.
9. Getting Hair or Nails Done at a Salon
Getting your hair and nails done at the salon is a luxury you can put on hold until after the holidays. Instead of going to a salon, try styling your hair and nails at home. You can find several tutorials online for interesting and beautiful styles.
10. Buying New Furniture or Home Decor
Furniture can be wildly expensive. If you need to save up money for the holidays, you shouldn't spend any money on buying new furniture or decor. Instead of buying new furniture or home decor, try upcycling old items or purchasing second-hand items.
11. Using Ridesharing Services
Ridesharing services like Uber and Lyft can really add up. To reduce transportation costs, try carpooling with friends or taking public transportation. You'll definitely save money.
12. Buying Gifts for Yourself
Most people try to pick out a couple of items to spoil themself for the holidays. But if you really want to save money for holiday expenses, you could sacrifice buying gifts for yourself. The real joy of the season is giving, not receiving.
13. Buying Expensive Groceries or Snacks
Expensive groceries and snacks might taste better and have better quality products. You'll save money by shopping for generic and store-brand items. Another way to save money is by buying in bulk.
14. Taking Vacations or Trips
We all need to take a break every once in a while, but if you want to save cash for the holidays, you need to holiday on a budget. Consider having a staycation and exploring your city instead of going away for vacation.
15. Buying New Cars
Instead of buying a new car, if you truly need to replace your vehicle, consider purchasing a used car. With a used car, you can save money on the purchase price, insurance, and registration fees.
16. Going to Concerts or Sporting Events
Concerts and sporting events are a fun way to get out of the house, but they are typically really expensive. There are several ways to entertain yourself that won't cost you a thing. Find free events in your city that you can attend with friends or family.
17. Buying Expensive Jewelry or Accessories
While it might be tempting to splurge on expensive jewelry and accessories, expensive jewelry and accessories are completely unnecessary if you're trying to save money for the holidays. If you intend to spend money on an expensive gift, consider a cheaper alternative or homemade gifts instead.
18. Purchasing Lottery Tickets or Gambling
It may seem like an easy way to make money, but more often than not, it's a great way to lose it. You should put that money towards your holiday budget and invest in gifts or experiences that will bring joy to your loved ones.
19. Going Out for Drinks or Nightlife Activities
Going out for drinks or nightlife activities can also be a major holiday expense. So, try having a night in with friends instead of going out for drinks or nighttime activities. You can play games, watch movies, and have fun without spending much money.
20. Buying New Pet Supplies
We all want to spoil our family during the holidays, that includes our furry friends. But, instead of buying new pet supplies, try making your own. You can find tutorials online and create toys and accessories for your pets that are both affordable and unique.
She started her blog, The Money Dreamer, when she realized the 9-5 job was not the lifestyle she wanted anymore. After designing for a while, she wanted a more meaningful life, which was freedom, so she decided to venture out. She took action so that she can live her dream life and decided to help people to live theirs by helping them how to save, budget, and invest.