How to spend holiday season on a budget

Tis the season to be jolly....Though there’s truth to that, many of us spend a lot of time worrying about our financial situation during the holiday season. How will we afford all the Christmas dinners, shopping for presents and treating ourselves for our post New Year glow-up?! 

It’s undeniable that this time of year can be quite pocket-draining and stressful, so we’re providing you the ultimate survival guide when navigating the silly season, so whether you’re running for the hills or running to the fun, you’ll be ready!

Here are our top tips for saving money this holiday season:


As the saying goes “if you fail to plan, plan to fail”, or in this case, plan to spend a lot of money. Navigating the holiday season without a plan or last minute can have you feeling overwhelmed and spending more money than you would if you had planned ahead. Planning your gifts will allow you to make the most of the seasonal sales so you know when you’ll be getting the best deal and it won’t have you spending those ridiculous next day delivery fees (for those of us who are super last minute). So before doing any shopping, decide who and what you’ll be gifting this holiday season.


Setting a budget is probably the best thing you could do for your bank account around this time of year. Holiday season can be expensive and without a budget in place, you’re more likely to give into temptations. Having something visual will allow you to see how much you’re anticipating to spend and could help you refocus your money where possible to see where you could cut back. Be firm when sticking to your budget and remember to track your spending!


There’s nothing better than a bit of DIY, especially if it’s going to save your bank account. After all, it’s the thought that counts right? Get creative with gift giving, when it comes to DIY, the internet is your best friend! Scour the internet for some inspiration and tutorials, whether it’s baking Christmas cookies, a memory book or a DIY hamper full of their favourite snacks, your friends and family will appreciate the thought and touch of personalisation.


If you’re trying to save some serious coin this season, group gifting might just be the way to go. It could be that you gift a household for Christmas rather than buying everyone individual gifts, or, splitting the cost between your friends or family to buy someone a more expensive gift to spread the cost. Either way, this should help to lift some financial strain off you from having to spend loads on presents. 


Secret Santa - something a lot of us probably did as kids growing up which we can probably appreciate a lot more now that we’re adults trying to save some money. The gist of Secret Santa is to pull a name out of a hat and buy a gift for that person within the budget set as a collective. It’s a fun yet cost effective way to save some money but still feel that Christmas spirit. Whether it’s with your colleagues, friends or family, this could save you a lot of money and eliminate the pressure, cost and time of having to buy presents for absolutely everyone.

With all the temptations, costs and events surrounding us this season, try to cut down the costs where possible and be mindful of how you spend so you can enter 2021 in a better financial position.