With inflation rising at faster rates, paychecks are stretched thinner than ever. The holidays are fast approaching, and saving money is on everyone's mind. So what can you do to help cut costs and have the holiday season you deserve?
If you are looking to get creative with your finances this holiday season, here are six tips to get you started:
1. Get creative with your gift-giving!
Who said money buys happiness? Take your holiday gifting up a notch by being unique and personal with your presents.
Get crafty, make something yourself or put together a gift basket full of items your loved ones will use and appreciate.
When you create your own gifts or put together a thoughtful basket, you'll save money and show your loved ones how much you care. Creative gifts can also come cheap - just be sure to plan ahead to avoid last-minute scrambling and extra expenses.
2. Shop around for the best deals
With so many retailers competing for your business, there are bound to be some great deals out there - if you take the time to look for them.
Whether you're shopping online or in brick-and-mortar stores, be sure to compare prices and take advantage of sales and special offers.
You can also save money this holiday season by shopping for gifts throughout the year. If you spot a good deal on an item your loved one would like, go ahead and pick it up - chances are it'll be even more expensive closer to the holidays. So plan accordingly and grab those must-have items when you can.
3. Set a budget - and stick to it
This one may seem obvious, but it's essential to set a realistic budget for your holiday spending - and then make sure you stick to it.
Once you know how much you can afford to spend, start looking for gifts that fit within your budget. Keep in mind that you don't have to break the bank to give a great gift.
If you're struggling to stay within your budget, try using an app that helps you track and manage your finances. This can be a great way to help you stay mindful of your spending and avoid overspending during the holidays.
4. Don't forget about freebies and discounts
There are plenty of ways to get free or discounted items during the holidays - you just have to know where to look.
Many stores offer loyalty programs that give you access to exclusive deals and coupons. And don't forget about online discount codes - a quick search can often reveal coupons for everything from free shipping to a percentage off your purchase.
You can also take advantage of holiday promotions, such as Black Friday sales and Cyber Monday deals. Many retailers offer discounts on popular items, so it's worth checking out your favorite stores' websites and social media accounts to see what's being offered.
5. Travel smart
Gifts aren't the only reason that money is tight during the holidays - travel can also take a big bite out of your budget.
If you're planning on visiting family or friends, plan ahead and compare prices on flights and hotels. And if you're driving, be sure to map out your route in advance and take advantage of gas station rewards programs to save money on fuel. This is just one of the few ways you can save money while traveling.
6. Use an app to track your finances and reach your goals
One of the best ways to stay aware of your spending and save money is to use a budgeting or financial tracking app. These apps can help you see where your money is going, set goals and track your progress over time.
When it comes to choosing the right app, make sure to look for features such as:
The ability to create a budget and track your spending
Financial goal setting and tracking with helpful insights
Easy-to-use interface and mobile accessibility
Easy unsubscription services for unwanted recurring charges
An app that tracks your finances can be a great way to help you stay on budget and reach your financial goals - all while making the most of your holiday spending.
Save More this Holiday Season with Hiatus
With careful planning and a little bit of creativity, you can give great gifts and still save money this holiday season. By following these tips, you can make sure your holidays are merry - and bright - without going into debt.
If you want to save even more this holiday season, check out Hiatus. Hiatus connects the dots between your financial goals and everyday spending, so you can save money without thinking about it. Plus, intuitive technology tracks and targets unwanted subscriptions, so you can save money on recurring charges.
Hiatus helps you go beyond canceling subscriptions to meeting your financial goals. By targeting specific goals (such as saving for a rainy day fund or paying off debt), you can ensure that your money always works for you - especially during the expensive holiday season.
Ready to start saving this holiday season - and beyond? Check out Hiatus today, and discover how easy it is to stop unwanted or forgotten subscriptions from draining your holiday budget!