3 Smart Saving Strategies for the Holiday Season


By now, we’re slowly but surely catching glimpses of holiday relics peeking out of department store windows and on catchy TV commercials. Lights, trees and other decorations are making their way to storefronts and front lawns. Soon, everyone will be in the holiday spirit.

However, it’s not all fun and games. Spreading holiday cheer takes a lot of hard work! Between shopping, decorating, cooking and travelling, you can easily find yourself stressing about your bank account. Consider the following tips to enjoy the holidays without spending a fortune.

Stick to a budget. The excitement of the holiday season makes it easy to overspend. While there’s nothing wrong with spreading holiday cheer, you don’t need to break the bank doing it. That’s why it’s important to strategize. Establish a budget and be faithful to it. Allocate funds to various areas and prioritize each. Is it more important to buy a 50-foot inflatable snowman, or have gas money to get to Grandma’s? Simply knowing how much you’ve spent and how much you have left will help maintain a well-balanced budget and mitigate regretful holiday expenses.

Do-it-yourself gifts. Not every gift needs come from a store. In fact, some of the most memorable gifts are thoughtful, handcrafted and from the heart. Those with a crafty side can create things like tree ornaments, gift baskets and even baked goods. For the people that really matter, infuse your craft with a personalized note, inside joke or sentimental inscription. DIY gifts have more meaning than something store-bought and are often cherished for many years to come.

Check your local listings. Annual events and local traditions are part of what make the holiday season great! Whether it’s your city’s annual parade or holiday festival, communities everywhere gather to enjoy the season together. Check your local newspaper to find event happenings and attend a fun and free activity at a location near you.

Don’t let the pressure of holiday spending get you down. After all, ‘tis the season to be jolly. Happy Holidays from PFCU.


Erin Ellis
Accredited Financial Counselor
Philadelphia Federal Credit Union