How To Save Money During The Holidays, According To Experts


The holidays are right around the corner, which is exciting but may also make you nervous, at least financially speaking. Though you may be looking forward to spending time with family and friends during the holidays, as well as having time off, it may also cost you — monetarily. However, within the next few weeks, there are some easy ways you can save money for holiday gifts.

After all, a lot of us end up spending more than we anticipated. Bank of America survey of customers’ spending behavior looked at data from more than 50 million active credit and debit cards. They found that consumers who made a retail purchase last holiday season spent an average of $1,143.

Get Creative

If you find yourself in need of some quick cash for holiday spending and didn’t save up as much as you’d hoped, it’s not too late. “Most people would benefit from boosting their budget by making some extra cash this holiday season,” Andrea Woroch, consumer savings expert, writer, and TV personality, tells Bustle. She says this doesn’t necessarily mean that you have to give up nights and weekends and get a part-time retail or restaurant job. “There are plenty of hassle-free ways to make money, and it’s never too late to get started,” she says. “Remember, every little bit counts!”

Woroch also says that another way to save when it comes to holiday gifts is to rethink what you’re gifting. “People often feel they have to give the biggest, most expensive gifts during the holidays, but you don’t have to spend a lot of money to give a meaningful gift,” she says. An easy way to spend less, she says, is by thinking beyond store-bought gifts and getting creative by making or baking something.

Below, Woroch and other money experts share some easy ways to save up some last-minute cash before the holidays.