For many of us, the holidays are a joyful occasion, but not without stress. It can be a busy time of year with extra demands, including the financial strain of gifts, trips, and get-togethers. This year, treat yourself to a less stressful holiday season. By planning ahead, you can have a festive time for a fraction of the cost!
Prioritize meaningful events
Create lasting memories with “experience” gifts. Less waste, and more meaningful! Check out the following ideas:
- Aquarium, zoo, or museum memberships
- A donation in their name to an animal sanctuary or a sponsored animal
- Amusement or trampoline park passes
- Arcade, Top Golf, or Go-Kart gift cards
- Sporting event[MS1] , theater, or movie tickets
- Classes like rock climbing, drama, virtual learning, or cooking
- Paintball, laser tag, escape room, or concert tickets
Or keep the experience even closer to home. Gift your loved ones a coupon that promises them a day hiking in the mountains, or a ticket to a home movie night.
Shop early; compare prices
When you shop early, you can compare prices and find sales. According to Consumer Affairs, “39% of shoppers already started buying to spread out costs and beat possible tariff-related price jumps.”
A smart idea is to open two tabs and compare prices from different vendors.
Bonus: You’ll be less likely to make an impulsive purchase.
Be careful with buy now, pay later plans
Although it can be tempting to participate in a buy now, pay later program, there are potential pitfalls. One is that the cost of the item can feel more affordable than it is (e.g., I can’t afford a $400 gift but I can afford $25 a month for the next 16 months). Often the payment plan comes with high interest rates and hefty late fees. If you feel you must borrow money, you can explore Nusenda’s options for personal loans and credit cards. This way, you will know you are building credit and not paying an exorbitantly high interest rate.
DIY or thrift gifts
Practically guarantee the originality of your gift either by crafting it yourself or finding it second hand. Recycled or hand-made gifts are practical, thoughtful, budget-friendly, and environmentally sustainable. Great gifts to find at thrift stores include housewares (think Pyrex, jadeite, or unique kitchen tools), accessories (vintage bags, jewelry, or belts), artwork, and books.
Even better, thrift a basket and put together your own DIY-themed creations such as thrifted mugs, a pour-over AeroPress, and coffee beans. Another idea is a basket with knitting needles and yarn (thrifted, of course).
Buy useful items
This is an oldie but goodie: buy items that are practical and will serve a purpose in the recipient’s life. The idea is that you aren’t spending money on gimmicky items or trendy products, or contributing to a sea of plastic in your home. Great ideas include:
- Tech gadgets
- Subscriptions
- Wool socks
- Bathrobe
- Throw blanket
- Artisanal goods such as olive oils, chocolates, or tea
Following these tips can help you have a wonderful holiday season while still maintaining the health of your finances. You can also get started now with a Holiday Club Savings Account. Get started for just $5 and watch your money grow throughout the year.
Happy holidays!