Maximize Your Savings this Holiday Season - Divine Lifestyle

Maximize Your Savings this Holiday Season


This post was sponsored by Regions Bank.  All opinions are my own.

I do a lot of holiday shopping. In fact, I do a lot of shopping throughout the entire year. As a result, I have learned a lot over the years about maximizing the money I spend.

Most of us consider this holiday season the most wonderful time of the year! I know that I do but I also know that this can be an incredibly stressful time of year as well. Since December is already here, it is time to get your holiday shopping strategy in place.

The National Retail Federation predicts a 3.7 percent increase in sales this year, with the average American set to spend an estimated $786 in the following categories:

$459.87 on gifts for family

$80.00 on gifts for friends

$26.03 on colleagues

$30.43 on the other people in their lives

Regions Bank, one of the largest U.S. banks with 1,630 branches across 16 states, offers some great insights for consumers on how to prepare financially for the holiday shopping season, which we have added to our tips.

Regions Christmas Budget List

Plan everything.

The first way I maximize my savings is by planning exactly what I am going to get for everyone and how much I plan to spend. This handy Christmas Budget List is perfect because it allows you to keep a running total of how much you are spending.

Regions shares, “to prevent overspending, never leave home without a list of what you intend to buy, and be sure you have the money needed to cover your purchases once you arrive in-store.” This list makes it so easy to do!

Save up.

I save a little amount each month so that Christmas shopping isn’t such a big hit to your budget. We have a separate savings accounts just for holidays and birthdays. Regions recommends, “creating a separate account to fund gift purchases and make regular contributions from your primary checking account in a weekly, bi-weekly or monthly basis.”

Wait for and find the good deals.

I always wait until the right time to buy things especially like toys. Regions suggests, “use timing to your advantage. While things like airline tickets should be booked far in advance, other items — toys in particular — often drop in price during the first two weeks in December. Sometimes it pays to wait, other times it does not, so be sure to check for deals before you head out shopping.”

Whether shopping online or in-store, there’s often a temptation to spend too much on gifts, leading to a case of buyer’s remorse come January. Regions shares that “spending on gifts shouldn’t exceed more than 1.5 percent of your annual income.” Make certain that doesn’t happen to you by following our tips to maximize your savings. And remember, the holidays are meant to warm the heart — not burn the wallet!


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17 Comments Leave a Comment »

  1. Robin Rue (@massholemommy)

    I am always looking for ways to save – especially now when I am out doing all my Christmas shopping.

  2. I always end up spending too much, and even buying items on credit which is a terrible idea. These are helpful tips!

  3. These are all great tips. An awesome idea to lessen the expenses this holiday season.

  4. I really need to keep these things in mind this season. I’m trying to stick to the budget and keep my eyes peeled for deals!

  5. Kristi

    Some great tips and it is very helpful to plan and budget. This year we are able to cut back as my sister said no gifts for their family since my brother in law lost his job. A bummer but it makes it easier on our budget I guess.

  6. I am really trying to keep things frugal this holiday season but stuff sure adds up fast. I have eight different teachers alone on our list, not to mention numerous service workers and of course close friends and family.

  7. Ann Bacciaglia

    Making a list can help you stick to your budget when you are shopping for Christmas. These are great tips to maximize your savings.

  8. I am terrible about sticking to a budget at the holidays. I really need to incorporate these ideas into my shopping habits!

  9. You know, I always (ALWAYS) over do it when it comes to Christmas shopping. And, I start getting completely stressed about it November and spend most of January trying to recover. These tips are really helpful and I’m going to print out your Christmas Budget list and seriously stick to it this year!

  10. Jeanine

    I will for sure be printing that budget list! I could sure use it right about now! I still have a ton to buy so I hope I can’t maximize my savings too!

  11. Rosey

    I usually shop a little year round so it’s no big deal when the shopping season arrives.Usually. That’s not the case this year. 😉

  12. Rachelle

    Setting a budget is SO important during Christmas time! I get my kids involved in the process so they understand how money works too.

  13. It’s always the things not on my list that put me over budget. I try to stick to my lists, but it’s hard!

  14. I will definitely be using this! My Christmas budget is a lot smaller this year, I have to keep real good track of it!

  15. I have invested so much money in wrapping paper. This year I’m using up what I have then just getting brown or white craft paper and finishing with a bow or raffia. I love the simplicity but better yet it’s a money saver

  16. A budget is definitely something important to have, especially for the holidays. We have one for our family.

  17. Pingback: Fun-Filled Festive Film Ideas For The Family Divine Lifestyle

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