The holiday season is a time for joy, celebration and generosity—but it can also be a time of financial stress if spending gets out of control. With rising costs and endless temptations, it’s easy to overspend. The good news? A little planning can help you enjoy the season without breaking the bank.
Start with a Clear Budget
Before you shop, decide how much you can afford to spend overall. Factor in gifts, travel, food, decorations and any additional activities. A good rule of thumb is to never spend more than you can pay off in full by January. This prevents lingering debt that can overshadow the new year.
Make a List—and Stick to It
Impulse purchases are the leading cause of overspending. Write down everyone you plan to buy for and set a spending limit for each person. Use apps or spreadsheets to track your progress and stay accountable to your budget.
Prioritize Experiences Over Things
Memories often matter more than material gifts. Consider low-cost traditions like baking cookies, hosting a potluck get-together or going to see Christmas lights together. These experiences can be more meaningful and are easier on your wallet.
Shop Smart
Take advantage of sales, but don’t let discounts lure you into buying things you don’t need. Compare prices online, use cashback apps and consider buying in bulk for holiday meals or décor.
Plan for Hidden Costs
Don’t forget shipping fees, gift wrap and last-minute outings. Build a small cushion into your budget for these extras so they don’t derail your plans.
Avoid Credit Card Traps
If you plan to use credit cards, stick to your defined budget and make it a priority to pay them off quickly. Delaying payment can result in interest charges that turn a holiday deal into a costly mistake.
Start Saving Early for Next Year
Once the holidays are over, set up a dedicated savings account for next year’s festivities. Even small monthly contributions can make a big difference when December rolls around again.
Still have questions?
Talk with an RCB Bank Banker or Wealth Advisor today. Visit the website RCBbank.bank or call 855.226.5722.
The opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank. Member FDIC.
