Can’t say we are not excited about the holiday season, and we can’t wait to be officially in Christmas mode after Thanksgiving!

However, along with the holiday season goodies and the stress of managing to do as much as possible, here comes the stress for our budget. The statistics show that during the holiday season, consumers tend to spend significantly more, with a large portion of shoppers prioritizing deals and discounts, often starting their shopping as early as October and with online platforms like social media heavily influencing purchasing decisions, with estimates suggesting an average holiday spending of around $1,000 per person, with higher-income households spending even more.

Did you know that in 2022, 35% of Americans took on holiday debt, with the average debt increasing to $1,549

That said, the holiday season is not all fun and games; it can affect your budget significantly without even realizing it. Every invitation to a party is an invitation to spend money, whether for a gift or a new dress to look fantastic. If you have already started to stress about your bank account, you probably be prepared with some proven tips that could help you relieve your spending.

1. Create a shopping list

We have already dedicated a lot of time to the importance of having a budget in which holidays and anniversaries are included, but what is equally important is creating a concrete shopping list of what you actually need to buy this season. For instance, if you are about to change your Christmas home decoration, make a list of exactly what your house will be like, e.g., ornaments, coffee table decor, and outdoor lighting so that when the time to hit the shops comes, you will know precisely what you want and won’t start filling your cart with unnecessary and (sometimes) extravagant things. A shopping list is the ultimate way to remain focused on your end goal without crying over your bank statement in the new year.

Also, sometimes we need something we already have somewhere hidden in the house. If you are an organized girl, then you probably have a dedicated place in the storage for your Christmas decorations. Steer through them and see what you already have, such as garlands and gift wrap.

Then, add to your list all the gifts you plan to purchase this year. From colleague bonding activities to family dinners and friends’ parties, jot down your social calendar what exactly you need and the budget for this. Such lists are the best way to not only regulate your expenses but also make sure that you didn’t forget any gift and, therefore run to find something (very expensive) last minute.

When you are prepared, at the end of the month/year/holiday, you will be surprised at how much a shopping list can cut off your expenses.

2. Shop Smart

This year, dedicate some time to making only a few runs to the shops or your eshops. Take your time to compare prices and locate the best deals. Don’t jump into purchasing your gifts or Christmas decorations only because you want to get over with it. Time is money, and Christmas time is even more money. So, be aware of promotions and locate places where you can find bulk products (especially when it comes to holiday stuff), and if possible, make sure that you purchase them after the holidays for next year, where you can get significant discounts. Before the holidays, many brands make flash sales and promotions to get rid of the remaining stock. So, why not benefit from that and buy your mom’s favorite day cream at a discount?

3. Express your internal artist

Aka, DIY gifts for your loved ones. If you feel artistic and enjoy DIY crafts, why not share your passion with your loved ones? Handmade gifts are not only more meaningful since you put some effort into making them, but they can also save money if you know what you are doing. Just a scroll down on Pinterest can give you inspiration for fantastic gift ideas. If you are not that into crafting, you don’t have to overcome yourself: an elegant box of handmade cookies or a handmade aromatherapy candle are extremely easy to make, don’t require a lot of time, and will definitely be appreciated by everyone. It’s the gesture that matters, not the actual gift.

4. Don’t bulk RSVP

If you are a social butterfly, then your mailbox will probably have started getting filled up with invitations for cool parties and Christmas Eve gatherings. As tempting as it sounds, consider that for each invitation there is an expense that comes with it. Whether it is a gift or an outfit, you will definitely pay. For this reason, and taking into consideration that the world doesn’t end with the holidays and there will be more parties and events to attend, think wisely before RSVPing every single invitation because not only will you get exhausted and overwhelmed, but also your bank account will probably make you cry.

5. Change your mindset

If each holiday season ends for you as a financial hangover, you need to reconsider what holidays represent for you and why you feel the need to blow up your budget. You need to remember that the sense of abundance or deprivation during the holiday season is in the mind: it's mostly about the emotions we experience, not so much about the goods we buy or receive. Holidays are primarily an emotional circumstance, and we enjoy them meaningfully when we do meaningful things that are not necessarily related to money. And by giving, it doesn’t mean you need to spend a lot of money. If you feel the need to share this time of the year, then you can either volunteer to help people who are in need or organize a dinner for people you know who are lonely or don’t have the financial capability to attend an event or have a wholesome dinner with their loved ones.