Grow Financial Federal Credit Union
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December 7, 2022

Five Tips to Save Money on Holiday Shopping in 2022

It’s no secret that the holiday season can be a doozy for the wallet. With all the seasonal traditions, like decorating, meals and gift-giving, you may feel like you have to choose between not participating in the holidays and spending beyond your means. We’ve got five tips to help you save money on holiday shopping — without skimping on the joy or the fun!

1. Establish a budget for holiday shopping and stick to it.

During the holiday season, your heart might grow three sizes, but don’t let the holiday spirit inspire you to be overzealous when shopping. People tend to spend more during this time of year, so remember the importance of budgeting. By making a list (and checking it twice) you can make sure your heart doesn’t run away with your head, leaving you to play catch-up on the added debt in 2023.

2. 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, such as:

  • Time or service: Offer to give of your time by creating “coupons” your giftee can redeem for various things, such as a home-cooked meal, a night off from doing the dishes or any other creative get-out-of-chore-free card you can think of.
  • Words of affirmation: Share words of encouragement through a handwritten note or journal.
  • Homemade goodies: If you’ve got a special skill, you can most likely use it to create a low-cost but thoughtful gift. Do you love to bake? Make some homemade special treats. Are you an artist? Use your talents to share the love.

3. Spread the love (and financial burden) of gift-giving.

Do you have a large extended family? Consider having a conversation as a family about gifts in 2022 to save money on holiday shopping. Maybe you can agree on spending limits, assign gift/giftee pairs so everyone’s not obligated to get a gift for everyone or discuss other alternatives to your regular traditions. Two fun ideas to rein in the spending but not the joy:

  • Secret Santa: Each person draws the name of a family member and gets a gift for that person, and the group decides on a modest price range for the gifts. Tip: To help the extended family, create a list of what each person likes, that way it’s easier to get gifts that aren’t guesses. Include easy favorites for each family member, like candy, board games, hobbies and interests.
  • Mall blitz: Assign giftees to each person and establish a maximum spending limit, set a timer and go! Everyone has limited time to find a gift and actively shops together at the same time. For example, allow the entire mall to be in play and agree to meet back at the food court in exactly one hour. This can add fun and action to the shopping process, while keeping everyone’s individual spending down. You can adapt this to a virtual event, too! Just pick a date and time, choose a specific store(s) to shop online and check in via video chat while you shop.

4. Create memories with experiences over things.

Consider doing a family activity as a new tradition, rather than focusing on gifts. For example, if your family loves movies, consider setting up a family movie night theater-style, with all the candy, popcorn and treats included. Create a firepit in your backyard, roast s’mores and share stories. Do a family photo scavenger hunt around your neighborhood. Have a board game or video game tournament where the winner gets that last slice of apple pie everyone’s vying for. Sing karaoke in the living room, celebrity-impression style. Whatever fun looks like to your household, think about including it in the festivities.

5. Remember your local businesses.

Whether you plan to shop online, in person or a mix of both, we encourage you to support local businesses through your purchases and patronage. When you shop local, you support a member of the community and keep more of your dollars in the local economy. It’s a win-win! Learn more about ways to support local businesses.

Do you have more tips on how to save money on holiday shopping to share? Let us know by messaging us on Facebook or Instagram! We’d love to hear your ideas!


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