With our Holiday Savings Tips, it helps to save. Many of us get carried away planning the perfect Christmas. From gifts, meals, parties, and activities, it’s easy to go overboard. It is always easier to consider how much you should realistically spend. The best thing to do is to calculate how much you can afford. With proper planning and research, you can cut your expenses and save along the way. Additionally, follow some of our tips below. This will not only save you money but also time and the stress of trying to please everyone!
PLAN AHEAD
With knowing how much you need to spend and who you want to get a gift for, be on the lookout for specials or clearance sales during the year. Keep the item in storage for when you need it.
TAP INTO YOUR RESOURCES
Another way you can pay for holiday expenses and maximize your savings is by utilizing Pearl Hawaii’s Platinum Card rewards. Turn in your rewards for travel, cash, gift cards, electronics, or other items.
Additionally, link your Checking Rewards to your Holiday Savings. Once you earn your monthly reward, deposit the sum in your Holiday Savings account.
Make the most of vouchers or gift cards. Search any old bags, purses/wallets, or look around your home for any unused gift vouchers.
GET CREATIVE
Be creative with low-cost or homemade gifts. If you need to spend less on gifts this year, don’t feel like your expression of love is limited due to finances.
Gifts don’t have to be costly to be meaningful. Thoughtful gifts can go a long way. Use your talents to share the love.
Do you have a large extended family? Have a conversation as a family about gift-giving. Create spending limits, a gift game, a gift theme, or discuss other alternatives to your regular traditions. For example, a fun game includes everyone giving gifts with the word “S.A.N.T.A” and you find a gift for each letter (eg. S is for Socks, A is for Art, N is for Notebook, T is for Tools, A is for Angels). A game or theme can change things up and keep the holidays extra fun without breaking your wallet.
Alternatively, chat to your friends and family and suggest a children-only rule.
Organize a Secret Santa with a dollar limit.
WORK OUT WHAT YOU CAN AFFORD
Start a Holiday Savings account or a separate account and that is your budget to work from. Christmas is only one day so it’s not worth spending the following months scrimping and saving to pay off Christmas debt.
Christmas shouldn’t be about buying presents – as much as it’s lovely to show people you appreciate them with a gift, it might be a good idea to restrict it to your closest friends and family.
Let us know by messaging us on Facebook or Instagram! We’d love to hear your input.
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