How to Prepare Your Finances for the Holidays

It’s nearly the most wonderful (and oftentimes most expensive) time of the year!

Between gifts, gatherings, travel, and all those peppermint mochas, the holidays can sneak up on your wallet faster than Santa on Christmas Eve. But with a little planning and some smart financial moves, you can enjoy the season without starting the new year with a financial hangover.

Here’s how to get your finances holiday-ready, so you can focus on what really matters -family, friends, and maybe that extra slice of pie.

Make a Nice List

Santa makes a list and checks it twice,  so why shouldn’t you?

Start by jotting down all your expected holiday expenses: gifts, decorations, travel, food, and festive outings. Once you have your total, decide how much you can realistically spend on each category.

In addition, it can be helpful to set a spending limit per person. This doesn't have to be hard and fast, but even just a guideline can help you not accidentally spend more than you wanted on anyone from your coworkers to your mom.

Get Creative with Gifting

The best gifts don’t always come from a store. Homemade treats, framed photos, playlists, or “experience” gifts (like a coffee date or a day of volunteering together) can mean a lot more than something off a shelf.

If you've got a lot of people in mind, try a White Elephant or Secret Santa party. This can cut down on gift costs while still making sure holiday joy is spread to all!

Book Travel Early

If you plan to travel during the holiday season, booking early can make a huge difference in the price of airline tickets and hotels. Tools like Google Flights can help you get an idea of the best time to book - and for the holidays, the earlier you book, the better.

Plan Gatherings and Outings

Some of the best moments come from simple get-togethers, like game nights, cookie exchanges, or watching classic holiday movies with friends or family.

Check out free or low-cost local events such as tree lightings, community parades, or light displays, and make sure to carpool to save on gas!

If you’re hosting, make it a potluck or dessert party so everyone can share in the fun and the cost. 

Start a Holiday Savings Fund 

It’s not too late to set a little aside for this year’s festivities. Elevate’s Christmas Club Accounts make it easy to save now and throughout the year for holiday expense.

Just deposit a little each paycheck, and by the time the holidays roll around, you’ll have a built-in fund ready to make the season brighter, minus the stress. It’s a simple way to keep your holidays joyful, jolly, and financially on track.

Remember What the Season’s Really About

At the end of the day, the holidays aren’t about how much you spend, they’re about the moments you share and the memories you make. Being intentional with your money can help you feel more present, less stressed, and more in the spirit of giving - without the guilt.

So grab that cocoa, turn on the twinkle lights, and give your finances the gift of a little holiday planning. Your future self will thank you come January!