Holiday spending is often a spending plan-buster. The expenses can be numerous: presents, wrapping paper, cards, decorations, food, and travel, to name a few. Yet very few people have an unlimited holiday budget. If you do not have the funds to buy everything you want, there is no need to despair. A little bit of creativity and energy can get you through the holidays without draining your wallet.

Gifts

Why spend $75 to buy a scarf if you can knit it yourself with $15 yarn? Making your own gifts is a great way to save, since supplies usually cost less than the finished product. Not only are homemade gifts cheaper, but many people appreciate them more than store-bought gifts because of the effort that goes into making them.

Are you not an experienced crafter? No problem. Writing a letter describing what the person means to you or framing a memorable photo are ways to give personalized gifts without having to break out a glue gun. Baking is another option that is easy for most people to do. Standard cookies or brownies can be dressed up with sprinkles and ribbons in holiday colors.

Offering your services is a great cost-saving gift, since it only costs time. Why not offer a free night of babysitting to your sister with three kids or a month of lawn-mowing to your parents? Think about what service you want to offer, and create a coupon that the recipient can redeem at a later date.

Gift-wrapping

Now that you have taken the time to choose economical gifts, you probably do not want to spend $50 wrapping them. Skip the fancy wrapping paper and bows, and look around the house to see what you can use. Do you have a newspaper? (The comic section is an especially suitable choice.) Computer paper? Shopping or supermarket bags? Cheap craft supplies, such as glitter and paint, can be used to decorate plain surfaces.

Cards

It is not uncommon for store cards to cost $4 a piece – or more. If you sent cards to 20 people, that would cost you $80, not including postage. Creating your own cards can help you save, but resist the temptation to buy the pricey supplies that pepper the scrapbook aisles of craft stores. If you create and send cards electronically, you avoid spending money completely. You can make your own or use one of the many free services online. If sending electronic cards is not your thing, consider trimming your mailing list. You can probably skip sending cards to your third grade teacher and the second cousin who you never see.

Decorations

Like with gift-wrapping, you can avoid buying decorations by seeing what is lying around the house. Making a garland out of popcorn is a classic holiday decoration. Pine cones and acorns – available in abundance in many parts of the country – provide a perfect seasonal touch. If you are really craving store-bought decorations, consider waiting until after the holidays to buy. Most stores will be selling them at a deep discount, and you can use them next year.

Food

If you host holiday dinners or parties, you may find yourself spending a significant amount of money on food. Potluck dinners are an easy way to shift the burden of buying all of the food off of you. However, if you do not want to ask your guests to bring food, there are other options. Consider eliminating a full dinner and just providing appetizers and desserts or avoiding expensive items, like meat and wine. Look for where you can buy the cheapest food. Often bulk stores are cheaper than regular supermarkets, but not always.

Travel

Airfare is generally more expensive during the holidays, since that is when everyone flies. If you want to celebrate with far away family, why not have a “holiday” dinner during an off-peak time of the year, when airfare is cheaper? Whenever you fly, being flexible can usually help you save – you probably won’t have to spend as much if you fly at night or have a layover.

You do not need to spend a lot of money to have a good time. By being creative with your purchasing and not straining your finances, you cannot only celebrate during the holidays, but afterward as well.

At Nusenda Credit Union, we’re dedicated to improving our members’ financial well-being and supporting them through affordable products, friendly service, community involvement, and financial education. We'd love to find other ways to help you save money. You can reach us at 505-889-7755 (800-347-2838 outside the Albuquerque area) or make an appointment to meet with us at any of our branch locations.