It’s the most wonderful time of the year, and it’s also the spendiest.
Or is it?
If you believe news channels or angry tweets, then maybe. It seems that most people look at this time of year as one in which we lose what little willpower we have and become total gluttons, mindlessly downing empty calories just as fast as we fritter away cold hard cash.
They’re not exactly wrong.
I will be eating some extra calories this season. I cannot tell a lie.
In fact, there may or may not be a Halloween candy wrapper keeping my keyboard company at this very moment. But, my friends, some extra calories here and some extra spending there is not the end of the world. In fact, planned indulgences can be the perfect way to stay on course when you’re working on really ambitious goals. Never mind the fact that there are tons of ways to do good with money, especially over the holidays.
My first money win of the holiday season happened at Target. If I’m being totally honest (hey, I already told you about the candy wrapper!), there were two. The first win was that I only bought what was on my list. The second win is that because I got my shopping act together well before Thanksgiving, I was able to add some extra oomph to my gifting budget!
Our school district does a holiday giving tree for free-and-reduced-lunch students and their families. My family and I “adopted” a 6-month old, and because we really got a move on, we were able to purchase everything on his wish list during Target’s 20% off sale. Since the suggested spending amount is $50, we saved $10. Rather than put the money back in our gift budget (or blow it on freeze-dried pears for HP and a chai for me…I’m really rolling with this honesty theme today!), we scooped up a two-pack of sleep-n-play onesies in the baby’s next size.
It’s true that I didn’t have to spend this $50 at all. It’s also true that I technically could have pocketed the $10 in savings from the sale. But it is more true that I cannot stomach the idea of making this huge push for financial independence without helping others along the way.
Plus, everyone deserves snuggly clothes when it’s cold out.
Now that your heart has already grown three sizes, here are three more money wins from Shannon, Michele W, and The Budget Epicurean.
Shannon
What is your money win?
We use Swagbucks that we have earned throughout the year to pay for all of our Christmas gifts.
Why are you pumped?
This saves us hundreds of dollars every year!
What can others learn from it?
It helps to start early. We begin in January and save up Swagbucks all year long so that we don’t pay for any Christmas gifts out of pocket.
Michele W.
What is your money win?
I am a money nerd and can’t wait for your “I’ve put this much toward our house mortgage principal this month.” We had some extra funds in our regular savings account, so (after conferring with my spouse), I paid an extra $5,200 towards our mortgage . As of 12/31 our balance will be $99,000, with a value of the house at $500,000.
Why are you pumped?
I have never done that before and it felt great. I hope to put $20,000 more towards it in January and then (hopefully bit the bullet) and sell some stock to pay the bulk of it off in 2019. It has been my forever dream.
What can others learn from it?
Savings works. Pay yourself first, folks.
[I am screaming for Michele. HOW AMAZING IS THIS?! What a way to finish out the year! WOOHOO!]
The Budget Epicurean
What is your money win?
I’ve been trying to get my family to move to a ‘secret santa’ type gift exchange for years. There are just a handful of us (small family), but we all bought something for each person every year forever. Even if it is only $20 or $25 per person, times 20 that adds up. And as we get older, the gift expectations increase. Tech gadgets cost a lot more than bubbles, unfortunately. This year we are all paired off now (3/4 sibs married with the last in long term relationship), so we are doing a Secret Santa! 8 couples, $100 limit, and we each have to buy only one gift.
Why are you pumped?
So many reasons! First of all, it is money saved, by spending only a set limit on one gift. Secondly, it is a larger amount on one thing, ergo probably a much nicer gift than several smaller ones. And thirdly, we all travel now, so one gift is easier to make room for in a suitcase than seven. Not to mention less waste in general, from one large gift rather than many smaller packages.
What can others learn from it?
It may take time and explaining your reasoning from many different points of view, but you can influence family traditions for the better. Be calm and thoughtful of others’ feelings, never try to just force people to change (especially family, it will not end well). Make sure you stress why it is a win-win and everyone will eventually see the light (shining off the pile of gold coins you’ll now save every year!)
[Penny’s note: Drop what you’re doing and go visit her blog. You can thank me later!]
Final Thoughts on Holiday Money Wins
Whether you plan to save everything, spend oodles, or find yourself somewhere in between, let’s celebrate all the different ways we can win with money this holiday season.
Oh, and life doesn’t ever happen in a vacuum, right? As much as we (ok, fine, just me) would like to be living our best lives in a Hallmark movie now where every single part of the plot is ridiculously connected to the holidays, there are plenty regular money wins that are worth celebrating, too.
But you’re getting Elf GIFs whether you like it or not.
So Tell Me…Do you have a holiday money win? Drop me a line here to be featured!
PS – Don’t miss any of the other money wins. The whole series is right here!
Zero our of pocket for presents is impressive! And wow 5k+ extra towards mortgage! Amazing. That’s gotta be a great feeling. Thanks for sharing Penny! You’re a great light to the world, what a nice way to start the holiday season.
I’ve always saved for the holidays but of course we are in a really sticky place with money at the moment so think we will just have to cross our fingers!
Well done to everyone on the money wins!!! I know that as I have maxed out my required CPP/EI (Canadian gov’t taxes type thing) I always try to take one of the “bonuses” and either buy gifts for the Santa’s anonymous or to get a bunch of puzzle type books and blankets for seniors around Christmas time. Personal bonus, is being able to save up my points for free groceries for the year and not having to spend a bunch extra on groceries for Christmas.
I agree that if you have planned to spend the money during the holiday season, then why not? As long as you don’t spend money that you don’t have I don’t think it’s a problem.
These are also some great money wins. I’ve asked my family a couple of times about doing Secret Santa, but no one is ever interested. The good thing is that it’s not many of us anyways.
My money win so far for the holidays happened at Old Navy unexpectedly. I was actually in there to kill some time, but ended up buying several gifts for several people on my list. All under what I had budgeted!
Yaaaas to all of this!!!! The holidays don’t have to be bad for the pocketbook. 🙂
We’ve got two awesome holiday wins that I’m excited for. One, we paid off the car last week (!!!). That means we have more cashflow during this important time of the year. Phew.
Two, we’l be able to use credit card rewards to pay for Christmas gifts. I’m super happy that we can be generous for Christmas without worrying about the bill in January.