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November 16, 2023

Securing the Bag: Your Guide to Wise Holiday Spending

With the holidays approaching and the clock ticking, it’s time for a SoLo-style Holiday countdown. We’re here to share tips to make your holiday season more financially manageable and enjoyable. So, let’s dive into the checklist with a twist.

 

Set a budget based on what you can afford, not what you want to spend.

Before you deck the halls, establish a realistic holiday budget. This year, let’s focus on what you can comfortably afford, not on extravagant spending. It’s a financially responsible way to ensure you have a joyful holiday season without a financial hangover. Plus, it’s the thought that matters, not the price of the gift.

To create a budget that fits your holiday needs, check out our 50/30/20 Budgeting Template.

 

Do a gift wrap, cards + present audit.

Check your gift wrap stash, holiday cards, and last year’s leftover presents. You’ll often find that you have more supplies than you thought, saving you both time and money.

Need inspiration? Here’s a guide on 4 Cheap(ish) Gift Wrap Alternatives the Pros Use—and How to Make Them Look Great from the Wirecutter.

 

Follow social media pages for affordable and free things to do.

Your social media platforms are more than just cat videos and memes. Many local businesses and community groups post about affordable or free holiday events and activities. Give them a follow, and keep an eye out for gems.

For local event listings, Eventbrite always has a slew of options. Check out their holiday events section.

 

Consider starting now to spread out the costs.

Instead of waiting until the last minute, begin your Holiday shopping early. Spreading out the costs can alleviate the financial strain of the holiday season. Your wallet will thank you.

For more on why this is beneficial, take a look at NerdWallet’s advice on how early shopping saves money.

 

Make a list and check it twice.

Santa isn’t the only one who should be making lists. Note down everyone you need to buy for and stick to it. This will keep your gift-giving focused and prevent impulse purchases. Don’t forget to create a food list for your holiday meals. Having a well-structured list helps you only buy what you truly need.

 

Organize your holiday bits in one place so they’re visible.

The key to keeping your holiday spending in check is organization. Create a designated space for gifts, decorations, and supplies. This way, you’ll see what you have and what you are missing, reducing the chances of unnecessary purchases.

 

 

Let’s put the SoLo twist on your holiday preparations this holiday season and keep your bag. 🎄💰🎁