Top Money-Saving Shopping Tips for the Holiday Season

The holiday season can be an exciting time, but it can also put serious pressure on your wallet. It can be stressful to worry about money at the end of the year, but there are strategies you can use to make it through without breaking your budget. Let’s look at some of the top shopping tips to save money this holiday season.

Save money before the holidays begin

One of the easiest ways to save money during the holidays is to start your planning early. Saving money can be a habit you practice all year long.

Create a savings fund

Set a budget for your holiday shopping and start incorporating it into your financial planning far in advance. You could set up a savings account just for your holiday purchases and set up automatic transfers, building your budget little by little over months rather than trying to find the money at the last second.

Shop deals year-round

You can find deals outside the holiday season, too. Many stores plan sales around other major holidays throughout the year or offer exclusive savings events to draw eyes to their products during off-seasons. If you see something that might make a good gift, grab it early if the price is right. Your future self will thank you when they don’t have to battle the crowds on Black Friday and can spend more on holiday decor or treats.

Save on gifts and holiday shopping

It may feel like getting a gift for everyone on your list is guaranteed to stretch your wallet, but there are simple ways to save money on your holiday shopping.

Holiday shopping basics

Saving money doesn’t have to be complicated. Some easy ways to help stick to your budget include:

• Set a spending limit for each person so you know exactly how much you’re willing to spend
• Shop online early to save on shipping and allow for easy returns
• Sign up for promotional emails and keep an eye on social media for discount codes and flash sales
• Consider getting a thoughtful, low-cost gift like a framed photo, a DIY keepsake or homemade baked goods

Wrap strategically

Fun fact: Americans are expected to spend about $28 billion on gift wrapping by 2032.

While it’s great to put a little extra effort into your gift wrapping, there are ways to make your presents look beautiful without going over your budget. Consider using newspaper, magazines or old comic books to give your gifts a literary flair or save and use fun reusable bags you receive during the year instead of fully wrapping your present. Buy holiday-themed wrapping paper in bulk in the off-season and use it several years in a row.

Use Citi Shop to score great deals

If you’re shopping online this year, consider using a browser extension like Citi Shop^℠ to help save. Exclusively for Citi^® cardmembers, Citi Shop^℠ automatically finds and applies coupons and discount codes, saving you precious time and money during the holidays.

Save money on holiday parties and entertaining

Planning a festive holiday get-together? It doesn’t have to break the bank. There are ways to host a party that the neighborhood will be talking about next year while still saving money.

Save on the menu

What’s a holiday party without some delicious treats? It may seem tempting to go all out and get the most impressive food to celebrate the holidays or the New Year, but there are many ways to save money while still having an incredible spread.

Consider shopping at a wholesale warehouse store to stretch your dollar further. If you know you’ve got a packed guest list, you can save money by buying in bulk rather than getting multiple packages at a standard grocery store.

You could also throw a potluck this year. Give guests specific assignments like appetizers or desserts to help save on how much you need to shop for personally. Plus, it’s a fun surprise to see what people bring! Don’t be afraid to make it a BYOB occasion to help save money on drinks, too.

Make your space festive on a budget

One easy way to save money on decorating your home is to repurpose or reuse your holiday decor from previous years. Don’t feel like you have to get all new tinsel or candles every time December rolls around. Make your family’s decorations part of your holiday season traditions. Seeing the same wreaths or lights getting put up every year can bring back memories for years to come.

Rent attire and decorations

Suppose you have a specific vision in mind or don’t have the storage space to keep holiday decorations year-round. In that case, you might consider renting a suite of decorations to save money and avoid throwing everything out after your party. If you’ve been invited to a party or just want to upgrade your look, you could also rent a new suit or dress to show off your style while still saving money in the long run.

Save on holiday travel and experiences

It can be hard enough to wrangle the family for holiday travel without adding money into the mix. However, there are plenty of ways to save money when setting out on the road to Grandma’s. 

Fly off-peak

With everyone trying to get home to celebrate, the cost of airfare skyrockets around the holidays.

If your travel plans are flexible, try to fly on days outside the main holiday stretch at the end of the year to save money. If your family decides to hold off just a little bit on holiday celebrations until the new year, you’ll be in a good position to save. January and February are the cheapest months to fly domestically in the U.S.

Stay local

Consider holiday options closer to home this year. Local tree-lighting ceremonies or shopping villages can provide a dose of holiday cheer while saving you money on long-distance travel. See if your family can come to you, or make it a tradition to swap who travels each year to help everyone save a little money during the holidays.

Group travel

If you have a big family who are all going up to the cabin or down to the beach house for the holidays, consider getting a group rate to save a few dollars. Airlines and car rental services may offer discounted rates for large groups. Booking early may also help you save.

Shop strategically and save

The most important tip for saving money during the holidays is not to panic. Make a plan and use resources like Citi Shop^℠ to ensure you’re getting a great deal on gifts, decor and travel this year. Don’t let your worry about finances get in the way of spending time with your family and loved ones.

Disclosure: This article is for general educational purposes. It is not intended to provide financial advice. It also is not intended to completely describe any Citi product or service. You should refer to the terms and conditions financial institutions provide for various products.