Disclaimer: The following is a sponsored post by Lexington Law. All opinions are 100% my own.
The holiday season is almost here, and many people have already started their holiday shopping.
Holiday shoppers plan to spend an average of $1,000, which leaves many people struggling to manage money after the holidays.
To cope with this, here are ten helpful tips that will help you not only manage your holiday spendings but will also help you save a ton of money.
Before we get started, make sure to sign up for my free resource library and get access to exclusive printables all about saving money and building wealth, meal planning, and more.
1. Budget holiday funds
How much money do you have to spend on gifts?
Instead of winging it every year, creating a solid budget and savings for the holiday season is crucial.
For example, if you love spending money on gifts and know you plan on shopping every year, save up the amount of money you plan on spending during the holiday season.
If you plan on spending $1000, save approximately $80 each month for 12 months so when it hits December, you’ll have money already budgeted for holiday spending.
2. Work on your credit score
Most people wouldn’t think to improve their credit score to help manage their money better but listen to this.
When your credit score is improved, you can save tons of money throughout the year.
A high credit score can:
- Lower credit card interest rates
- More negotiating power for a lower interest rate loan on a car or credit card
- Easier to get approved for a rental house or apartment
- No security deposit needed on utilities
All of these things together could potentially save you thousands of dollars.
Lexington Law has 10+ years of experience acting as advocates for consumers who need help repairing their credit and making sure they have a fair, accurate, and substantiated credit report.
Do you not know your credit score?
Lexington Law can give you a free credit report summary and credit repair consultation.
Lexington Law has helped clients with over 10 million removals in just 2017 alone and has helped clients remove inaccurate and unverifiable items (such as late payments, charge-offs, and more) from their credit score.
3. Get cash back on gifts
When you start Christmas shopping, make sure to use Ibotta.
Ibotta is a free app that gives you cash back for making purchases on things like groceries, clothes, toiletries, gifts, and much more, which can quickly add up to a ton of money saved.
It’s silly not to use Ibotta if you’re a regular grocery shopper and also have to buy things like clothes, toiletries, and pretty much anything else you’d find at a store like Walmart or Amazon.
I use Ibotta even when I’m traveling during the holidays and get cash back on flights, car rentals, and hotels. Last week I got a car rental for $250 and got $40 cash back just for using Ibotta, knocking my total down to $210! I made $40 just for using the app, and it was quick and painless.
If you sign up now, you can get $10 in your account by using my link here.
If you’re downloading Ibotta on your phone, the app will ask if you have a referral code. Use my referral code: lwyxxrb and you’ll get $10 for signing up.
4. Get creative with gifts
Instead of spending money solely on materialistic items, get more creative with your gifts.
This year, instead of buying gifts brand new, DIY them.
Pinterest is a gold mine for DIY gift ideas.
5. Create a shopping list
Before you start shopping, create a shopping list, so you know what you want to get each person.
Once you know what the person wants, you can shop either in person or online for the best deal.
Ebates is a website that gives you cash back for your purchases, giving up to 40% cash back.
Create an Ebates account here. Make an online purchase of $25 and get $10 as a welcome bonus! So easy.
Ebates even has a free browser extension that automatically applies the best coupons to your purchases and activates cash back. There are so many times I forget to use Ebates when I’m online shopping – so the Ebates button reminds me every time I go online shopping. It’s a must.
6. Head to the store with only cash
Once you start holiday shopping, make sure to only bring cash in hand.
It can be incredibly easy to overspend when you have a credit card available to you.
Your emotions can easily overwhelm you and make you want to buy the best (most expensive) gift you find at the store, but remember, you already picked out a gift for the person you’re shopping for, and you’re on a budget.
7. Use Airbnb for travel
Do you plan on traveling this holiday season? Do you have family coming into town and want them to have their own space?
Use Airbnb and save money while also getting a place to yourself.
I have used Airbnb a dozen times and have had all positive experiences (besides once in Tokyo when a heater broke and I was freezing).
I even used Airbnb throughout my time in Europe and Mexico and felt like I got a unique and authentic experience traveling through Airbnb.
8. Check coupons with Honey extension
Use Honey, a free money-saving service that connects to your internet browser for free.
Honey tells you when a particular product is decreasing in price, on sale, AND it even finds all coupons online to give you the best coupon.
I recently bought a camera last Christmas and checked Honey for price drops.
Honey also gives you the BEST coupon for whichever site you’re on, saving you the most money possible.
9. Vacation another time
Instead of going on vacation when everyone else is, celebrate the holidays in January instead.
This can dramatically cut travel costs as way fewer people are traveling during the off-season.
You can save money on flights, hotels, car rentals, and even tours when you travel away from the holidays.
10. Get a side hustle
I started a side hustle as a blogger and had no idea that it would eventually become a full-time job. You never know where a side hustle can take you.
Check out this list of side hustles that can help you make money on the side, as well as potentially become full-time jobs!
Lexington Law has helped hundreds of thousands of clients remove inaccurate and unverifiable items from credit reports such as late payments, collections, charge-offs, and more.
If you need assistance with filing disputes or challenging specific items on your credit report, learn more about Lexington Law here and start getting the help you need today.
Don’t forget to sign up for the free resource library and get exclusive access to free printables & planners related to saving and making money, meal planning, and more!
What are you doing to manage your holiday spending?
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