Saving money at Christmas - not as hard as you think! (2024)

Saving money at Christmas: an impossible task?

Let’s admit that Christmas is generally AWESOME, but also DANGEROUS for our budget. Saving money at Christmas just goes out the window, doesn’t it?

I don’t think there’s another time of year where it’s just so easy to completely blow your budget without even thinking about it. Everywhere you look at Christmas there is money to be spent.

But I’ve been looking at our finances really hard lately (I think everyone has to) and I realized that a whole lot of the spending I do at Christmas is… totally unnecessary.

(I know that’s not really… a REVELATION, but still.)

I sat down to come up with just a few things that I blindly pull out the card for every year – and I was surprised at how many things I was able to cross OFF my shopping list.

I’ve made myself a promise:

I will be saving money this Christmas.

This year, I will. not. buy. these things.

Related: How to Have a FUN, FRUGAL Christmas

(THIS POST PROBABLY CONTAINS AFFILIATE LINKS. OUR FULL DISCLOSURE POLICY IS REALLY BORING, BUT YOU CAN FIND ITHERE.)

Ten things I won’t buy this Christmas, to save money:

1) I will not buy new Christmas decorations.

Saving money at Christmas - not as hard as you think! (1)

Every adorable little snowman or penguin on ice skates wants a place in my home.

And I want to GIVE them a place in my home.

But, I already have half a dozen fat little penguins on ice skates and I know from experience that I only have room to put out 3.

This year, I will not re-home any penguins, wreaths, strands of lights, or any other glittery pretties. If I become absolutely desperate for something new, it will come from the thrift store. (But that won’t happen. I do not need any new decorations.)

Related: DIY Christmas Ornaments to Make with Kids

2) I will not buy new clothes for parties.

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I don’t think I’ve ever even realized I do this. I tell myself I “need” a new shirt or pair of jeans, or shoes… But almost without fail, I purchase something just a litttttttle to fancy for everyday life and tell myself it’ll be perfect for new years eve or dinner with friends.

(Let’s not over look the fact that last years worn-4-times dinner-with-friends shirt is still hanging in the closet. Annnnnd one from the year before that.)

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3) I will not by cute Christmas-y baby stuff… that we will only use for ONE YEAR

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It is super tempting to dress the squishy baby up like Santa, or an adorable elf. For 40$. For one day.

I think if I ask around I can probably borrow last year’s elf from friends who’s baby wore those pointy ears one time + has way outgrown the outfit this year.

4) I will not buy $150 worth of gifts for my one-year-old

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THE BABY DOESN’T NEED 10 NEW TOYS.

This is my mantra whenever I walk into a store this year.

On that note, his daddy also doesn’t need 10 new things, and neither do I.

Christmas doesn’t have to be all about the piles of gift.

A few fun things to open is more than enough.

Related: Cheap but Meaningful Christmas Gift IdeasRelated: The Best FREE Gifts to Give Your Kids This Christmas

5) I will not buy expensive + decadent desserts.

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This is a big falling down for me. I say things like, “Oh it’s Christmas, we can splurge!”.

And then I pay 26$ for a desert that we will eat in a few sittings + forget about.

Three times.

This year I will make desserts. (Yes, I can. I have Pinterest.) Mayne I’ll make Christmas cupcakes with the kids – that would be fun AND cheaper than buying them.

OR maybe I will just eat LESS desserts altogether and not gain 10 pounds.

Related: Free Printable Christmas Menu Planner

6) I will not buy Christmas Cards.

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I have all the stuff to make cards, already paid for and sitting in my office. But every year I ignore that stuff and buy a stack of cards…

Why? Why do I do that?

Because I am just a little lazy + rushed. If I spend less time shopping this year, maybe I can make time to make cards

People throw them away at the end of the season anyway. Must keep that in mind!

7 ) I will not buy wrapping paper, ribbons, Christmas crackers etc.

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We will use this stuff, yes… but we will not BUY this stuff. I will use up what’s around the house. I know I bought this stuff LAST year, and there’s plenty left over.

I firmly believe that this is stuff that should be bought at 75% off after the holidays, and stored for a year.

Done!

8 ) On that note – I will not buy anything before Christmas that will be on sale AFTER Christmas.

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Cute Pj sets. Soap + lotion sets. Amazing chocolates or gift basket-y things.

Sure, you might want to have these things for Christmas. But it can be just as much fun to climb into your matching “family jammies” on New Years Eve as it is to wear them on Christmas eve.

It is just unimaginable to me that I would pay 40$ for anything I know I can have for 25$ THREE DAYS LATER.

9 ) I will not buy fun holiday themed… junk.

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If it’s only appropriate for use at Christmas (red + green sparkle nail polish, slightly tacky Mrs. Clause Lingerie, reindeer antler headbands), then I don’t need to spend money on it this year.

Christmas nails are fun, but I can skip them this year, and do my manicure at home – to save money on the season.

(IF you just NEED a fun holiday head band – MAKE ONE.)

Related: Fun Family Christmas Traditions to Start This Year

10 ) I will not buy a “real” Christmas tree.

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Something that you have to buy year after year (instead of investing a bit just once) doesn’t make any sense to me.

We got our tree second hand last year – FOR FREE – from a friend who just happened to forget she had one already, and then went out and bought another…. and put her first one up on FB for free. I’ve also noticed that every year on December first our local thrift store FILLS with GORGEOUS second hand trees. (I’d say something about saving the planet, which is great and all, but my REAL thing here is saving some money. This one just happens to be a win-win!)

Saving money at Christmas is TOTALLY possible!

Are there a few things you could make instead of buy, re-use or do without this year?

Related: 10 Things I Quit Buying (to Save Money)

Saving money at Christmas - not as hard as you think! (12)

Saving money at Christmas - not as hard as you think! (13)

Saving money at Christmas - not as hard as you think! (2024)

FAQs

Why do you think its very challenging to save money? ›

Common Challenges to Saving Money

Low Income: It's tough to save when you're earning just enough to cover basic needs. High Cost of Living: Rising prices for essentials can leave little room for savings. Debt: Paying off loans and credit cards can consume much of your income.

What is the hardest part about saving money? ›

High inflation and rising costs for essentials like gas and groceries make saving more challenging. Many adults struggle to cover unexpected expenses without resorting to credit. Debt, especially from high-interest credit cards, significantly hinders the ability to save.

What is one reason it is hard to save money? ›

One of the most common reasons is that you might not have a good enough reason to save. Maybe you're overly focused on the present, or maybe you simply don't know what you want in the future. Either way, you need to get a vision for what you want to achieve with your money.

Should I save Christmas money? ›

Without a Christmas savings plan, you might end up relying on credit cards or loans, which can lead to financial strain in the New Year. But by saving money for Christmas weekly, or monthly, throughout the year, you can spread the cost and avoid the post-holiday financial hangover.

Why do I struggle so much to save money? ›

Fears or deep-rooted money beliefs can easily set one back from getting finances under control. If you can, beginning with the basics of budgeting and seeing how your money is flowing in and out of your accounts each month is the simplest way to work out if you can start saving more effectively.

What are the challenges of saving money? ›

7 barriers that keep us from saving money (and how to knock them down)
  • Spending too much on housing.
  • No defined budget.
  • The “I'll save when I make more money” mindset.
  • Lack of measurable savings goals.
  • Student loan payments.
  • Your comfort zone.
  • Overusing credit cards.

What is the 3 saving rule? ›

This model suggests allocating 50% of your income to essential expenses, 15% to retirement savings and 5% to an emergency fund.

What is better than saving money? ›

If you have built up your emergency fund and don't carry any high-interest debt, investing your extra money can help you grow your wealth over time. Investing is crucial if you're going to achieve long-term goals like retirement. Real-life examples are the best way to illustrate this, Keady says.

Why do we fail to save money? ›

One of the primary reasons people fail to save money is the need for more financial education. Many individuals are not adequately taught about budgeting, saving, or investing from a young age. With the necessary knowledge and skills, people may find it easier to create a realistic budget and save consistently.

Why can't I ever save money? ›

Failing to Set Goals

Having a specific goal or target you're trying to reach helps you to stay focused on what it is you're trying to achieve. If you don't have a goal in mind of how much you want to save or what you want to use the money for it's easy to let other things take priority.

What are the three basic reasons to save money? ›

There are three basic reasons to save money. First, we save for an emergency fund. Second, we save for purchases. Third, we save for wealth building.

What is poor saving? ›

Poor Saving is the inability to save as expected. Causes Of Poor Savings. Low Income. Inappropriate financial planning. High level of spending.

What is a realistic Christmas budget? ›

A realistic budget for Christmas gifts depends on individual financial circ*mstances. However, a common guideline is to allocate around 1-2% of your annual income for gifts.

How much money should you give on Christmas? ›

Before you start buying gifts, it's important to set a budget. Financial experts often recommend allocating 1% of your annual income for holiday spending. This includes not just gifts, but also decorations, food, and other festivities. This recommendation could be a good starting point for your holiday budgeting.

How can I be frugal at Christmas? ›

The experts: money gurus' 20 failsafe, frugal tips to keep Christmas overspend at bay
  1. Limit your exposure to unreal expectations of Christmas. ...
  2. Don't throw money at the problem. ...
  3. Consider group presents. ...
  4. Try a Secret Santa. ...
  5. Reject the notion that 'it isn't Christmas without …' ...
  6. Budget for festive spending throughout the year.
Dec 7, 2023

Why am I scared to save money? ›

In some cases, it can turn into a legitimate fear of money, whether of not having enough, of managing it incorrectly, or something else entirely. A fear of money can stem from a variety of causes, including money trauma (such as early poverty, divorce, or a significant financial loss) and a lack of financial education.

What is your biggest challenge when it comes to money? ›

Ten Common Financial Challenges
  • 1: Monthly spending exceeds income. ...
  • 2: You can't get out from under car payments. ...
  • 3: You carry a credit card balance every month. ...
  • 4: You don't have an emergency fund. ...
  • Your rent keeps going up. ...
  • A new baby brings unexpected costs. ...
  • You owe the hospital for medical care.

How do I challenge myself to save money? ›

100 Envelope Challenge

To begin, gather 100 envelopes and sequentially number them $1 through $100. On day one, you'll place $1 in envelope one. On day two, you'll add $2 to envelope two, and so on. Place each envelope in a safe place, and by the end of the challenge, you'll have saved $5,050.

Why is it so hard to make money and keep money? ›

They are rooted in psychological and behavioral deficiencies, such as lack of work ethic, lack of faith, lack of discipline, over-spending, excessive risk-taking in investments, greed, pride, and an insatiable desire to impress others.

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