5 Tips to saving during the Holidays

5 Tips
5 Tips to saving during the Holidays
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Stacy Yanchuk Oleksy

Stacy Yanchuk Oleksy

Stacy is the Director of Education and Community Awareness at the Credit Counselling Society (CCS). She lives in Oakville with her husband, dog and cat.

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Welcome back Friends!  Oakville recently had its Christmas tree lighting on November 15th so let’s talk about 5 tips you can use to save for the upcoming holiday season.

5 Tips:

Make a list

Santa keeps a list to stay organized and so should we. There are different types of lists including gifts, groceries, things to do, etc. The gift list is especially important because once you have made your purchase for that person (or created a homemade gift), you cross the name out. This means that even though there’s the cutest or most interesting gift for this person that comes across your radar, you take a deep breath and move on without the extra spending. I know it’s hard because there are so many interesting, neat, creative, ingenious things out there but remember, they’ll be there in January as well;

Accept offers of help

No, seriously, say yes! If you are hosting a meal or an event and someone asks you what they can bring, give them something to bring (and not just the buns). This will save you time and money. It allows others to feel as though they are part of the festivities;

Barter or exchange help

Perhaps you need a babysitter on Thursday to attend a holiday party and your friend needs a babysitter on Friday. Instead of you both paying for a babysitter, can you trade off, help each other out and save a few dollars?;

Holiday Allowance

Give yourself a holiday allowance that can cover expenses like ad-hoc donations, a festive lunch or coffee, gift exchanges, etc. If there are leftover funds, you get to spend it on whatever you want but once the money is spent, the answer to those requests becomes “no”;

It’s okay to say no

Set Boundaries

Be willing to set your intention for the holiday season you want and in turn, set your boundary. It’s okay to say no. Sometimes saying no is the best thing you can do to conserve your energy, preserve your health, and protect your budget. If you are asked to go out, you can reply with “thank-you for the invite however I’m not able to attend”. No one needs to know you’re declining for budgetary reasons. If you’re asked to donate money, you can say “thank-you for asking for a donation but my annual giving is already pre-planned.” Or if you’re asked to contribute to a gift or join a gift exchange, you can say “thank-you for the invitation to participate however my budget for the holidays is already set.”

The holiday season can be joyous and festive along with stressful and expensive. Here are 5 Tips we can use to both protect our budgets and our sanity. If you feel like you’re the only trying to stay on track with your budget during the holidays, reach out to family and friends. I guarantee that others are feeling this way as well.

OakvilleNews.org articles about Person Finance by Stacy Yanchuk Oleksy and you can follow Stacy on Twitter @StacyYO_CCS


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