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Posted November 10, 2020

Americans are projected to spend an average of $997 this holiday season, according to a survey by the National Retail Federation. With gifts, food, decorations, and more on the shopping list, it comes as no surprise.

If overspending isn’t on your wish list this year, rest easy. There are plenty of opportunities to cut costs while still being able to enjoy the little things that matter most. Use these six suggestions to help you spend exactly what you want this holiday season.

Create a Budget

Take the time to identify what is important to you this season by developing your holiday spending plan.

What can you afford to spend on what or who? What can you afford to go without? Write it down and keep this in mind as you begin shopping for the holidays.

If you plan to use a credit card, remember to try to pay your balance in full or pay it off as soon as possible to avoid accumulating interest.


Free Guide
Get your free Holiday Spending Survival Guide and make the most out of your holiday budget. Download >


Establish New Traditions

Holiday traditions don’t have to involve doing something that costs us a pretty penny.

Stay in for a night of movies, hot chocolate, and baking. Get the family together for a socially-distanced event, such as the drive-thru Trail of Lights. Dedicate a weekend to collecting toys and coats for children or host a food donation drive. There are so many things to choose from.

Change It Up

Buying gifts for everyone in your family can be quite the expense, especially if there are a lot of you. Speak up and get the discussion going. Should the little ones be the only ones receiving gifts? Do you prefer to include everyone and draw names? What’s the price range?

You may be surprised to find you are not the only one feeling a sense of relief.

Get Creative

As you can see, there are plenty of opportunities to reduce costs, not by eliminating expenses but by getting creative.

Put your skills into practice with YouTube and Pinterest; we can do almost anything ourselves by simply watching a tutorial.

Get inspired with these 50 DIY Holiday Decorating Ideas and these 45 Holiday Gifts You Can Start Making Now. The thought and personal touch will make your gift just that much better.

Track Expenses

Creating a spending plan is only half the battle when it comes to controlling costs. The other half consists of actually following your plan.

Be sure to keep track of your expenses so you know where you stand at all times. If you spend a little too much in one area, spend a little less in another area. This will help you stay on track overall.

Keep your holiday budget in check with our downloadable Gift List and Holiday Budget Worksheet.