With the economy faltering the way it is, this holiday season is shaping up to be difficult for many of us. This year hasn’t exactly been all candy canes and twinkling lights, after all.
COVID remains a major concern, so things outside the house are still a bit troubling.
Worried you won’t be able to spoil your family and friends the way they deserve? Don’t give up hope. Instead, brew a mug of hot chocolate and review these four approaches to saving during the holidays:
1. Tap Into Your Creativity
Short on cash for presents? Lean on your creative side; consider what the people you care about would appreciate and craft your own gifts. You don’t need to be a lifestyle guru, either. The sentiment matters more than producing a flawless handcrafted masterpiece.
Here are a few suggestions.
- Framed photos: Sort through your digital albums for memorable shots of family and friends. Hunt for inexpensive frames at thrift shops or dollar stores. Once you know the frame sizes you’ve found, get high-resolution versions of your selected photos and have them printed to size at CVS, Walgreens or Walmart. Most prints cost under $1 each.
- Family recipe book: Ask relatives to contribute their favorite recipes. Maybe there’s a stash of grandma’s handwritten cards you can digitize. Put together an accessible online version or compile a printed copy. There are free and low-cost templates and programs if you want to DIY. With some effort, this could become a cherished keepsake for years to come.
Hand-knit or crocheted items make truly unique presents, and baked treats are always appreciated. Delicious.
2. Reevaluate Your Car Insurance
Here’s the reality: your current auto insurer might be charging you too much. But don’t waste time calling around to dozens of companies hunting for a better deal.
Use a service like EverQuote to view multiple options at once.
EverQuote is one of the largest online insurance marketplaces in the US, so it brings top offers from more than 175 carriers to your fingertips.
Spend a few minutes answering questions about yourself and your driving history. With that info, EverQuote will match you with the best car insurance recommendations. In just a short time, you could shave up to $610 off your annual premium.
3. Put Away a Little Each Week
Begin today and tuck away a small sum every week.
Whatever amount you can manage. Everyone’s circumstances differ. But if you commit now to saving a fixed amount each week, you can build a modest fund for holiday purchases—especially if you follow the next tip…
4. Look Beyond Big-Box Retailers
More gift buyers are skipping big-box stores and turning to online marketplaces like Etsy, eBay and the Amazon Marketplace. This season, shoppers are expected to make heavy purchases on these platforms, according to various predictions and surveys.
It’s not solely because of COVID, either. Savvy online shoppers can uncover compelling bargains this way.
Etsy offers handmade and vintage finds. eBay can surface unusual or hard-to-find items. Amazon’s Marketplace sells nearly everything. And if a transaction goes awry, each of these platforms provides buyer protections.
Also consider local options. Keep an eye on Facebook Marketplace and OfferUp to see if neighbors are selling items at attractive prices. Sometimes you can score nearly-new items for a fraction of retail.
In short: Even if the Grinch has nipped your bank account this year, you can still celebrate with flair and show your loved ones you care.
It only requires some determination, forward planning and a pinch of holiday spirit.
And perhaps a splash of eggnog.
