The holiday season is joyous and fun but can leave your finances a festive, yet unpleasant shade of red. Keeping ahead of the money game can be a real challenge when you’re trying to get the perfect gift for everyone on your list, hosting the best party, and traveling to see your family, all in one month. To help, we have assembled these tips to keep you in the black during the holidays.
Holiday Travel
Travel experts Daraius Dubash and Emily Jablon of Million Mile Secrets had these tips to save money on holiday travel, “Staying organized is the most important thing you can do to make sure you get the most value out of your miles. Pay attention to payment due dates, spending requirements, and account balances to track on top of your household budget. Being organized can help you avoid lost points, late fees, interest, and accumulating debt.”
Buying a Gift for Everyone on Your List
Andrew Swick of CheckedTwice.com, a website that helps families organize holiday gifting, says, “Don’t just head to the mall. Make a list! Don’t think about shopping for gifts until you know what you’re going to buy for all the special people in your life. If you have a list, you won’t be tempted by those impulse buys on Black Friday, no matter how good the deal is. And of course, it also helps stick to #1.”
Parties
Elle Kaplan of LexION Capital, the only 100% woman-owned asset management firm in the U.S, had this great tip for hosting a holiday party “For a budget-friendly way to host a lovely holiday gathering, get everyone involved in the celebration by hosting a potluck. It is financially healthier for you, and it is fun for everyone else. After all, this special time of year is about spending quality time with friends and loved ones rather than throwing the “perfect” party.”
So remember, while the holidays can be expensive, there are a lot of steps you can take to alleviate the strain on your bank account. Have a holly jolly holiday knowing that you have taken the steps necessary to save money over the holidays.
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