How to Save During the Holidays

’Tis the season for giving! It’s a wonderful, festive time of year and buying presents for loved ones is a part of the joy.

But buying presents can also be expensive.

The National Retail Federation reports that Americans will spend an average of $589 on gifts this year. The majority of that spend is on gifts for family (78%) with friends coming in next (13%) and coworkers third (4%).

That’s a lot of money. Given that it often comes along with lots of other seasonal expenses like traveling or hosting family, it can make for a depressed piggybank.

So, how can you keep that piggybank happy while still generously giving to your friends and family?

Here are a few solutions that we’ve found to be helpful:

  • Secret Santa — instead of everyone getting everyone else in the family lots of small gifts, our family draws names for each person and sets a limit. So every person gets one other person and spends up to $35 on a gift for them. It’s fun and surprising to see what everyone opens up and it saves you some moolah.
  • Find Sales — this one is obvious but still worth stating. Retailers earn between 20-30% of their annual sales during the holidays and the competition can be fierce. So be flexible on the exact gift and be on the lookout for a great deal.
  • Discounted Gift Cards — gift cards are a popular gift because it lets the receiver choose the exact thing they want or need. Sites like Gift Card Granny make it possible to buy those gift cards at a slight discount — from a few percent off up to 30% or more.
  • Potluck Parties — since hosting can come along with both stress and expenses, try sharing the burden with a potluck instead. Divvy up the different dishes and get everyone involved.

What do you do to save money during the holidays? We’d love to hear your tips & tricks!

And, if you’d like to save even more money, check out Savvy. Savvy is a service that negotiates lower prices for your cable & internet bills. We save people an average of $300 per year without changing their services at all.

Think about what you could do with $300 extra this holiday season!

That could go a long ways towards your gift budget. And maybe you could even get a little treat for yourself. :) Give Savvy a try and start saving!