Celebrating the Holidays Without Breaking the Bank
The lights go up and holiday festivities begin. During the upcoming season of celebration, don’t let financial worry dull the moments of joy. 1st Colonial Community Bank is here to help you enjoy the holidays without wrecking your financial health. With fun and affordable holiday activities, creative gift ideas, and practical budgeting tips, this is your guide to an economical holiday season in New Jersey.
Budget-Friendly Holiday Activities
It wouldn’t be the holiday season without an abundance of activities and events. Avoid spending too much on expensive holiday concerts, shows, and parties this year by filling your calendar with these budget-friendly holiday activities.
Enjoy the Outdoors
Outdoor adventures are a great way to appreciate the holiday season in New Jersey and Pennsylvania. Surround yourself with your town’s holiday lights and decorations, and take in the beauty of winter while spending the afternoon outside. Outdoor holiday adventures are often free or low in cost, and you can save even more money by packing your own hot cocoa and snacks. Try these outdoor activities this holiday season:
● Winter hiking through a nearby state park or nature preserve
● Skating on a local outdoor ice rink
● Sledding at a nearby park or golf course
Make it a Potluck
Sticking to a budget this holiday season doesn’t mean you have to forgo hosting a holiday party. Rather than taking on all the expenses of hosting this season, throw a themed potluck party for your family and friends. Choose a theme such as Christmas movie feasts, dishes that celebrate African history, or latkes from around the world.
Coordinate your party decorations and drinks with your chosen theme to tie the party together. Hosting a themed potluck party adds an air of excitement to the night and reduces the financial burden on you as the host.
Ditch the Store-Bought Decorations
Making your own holiday decorations is about more than just saving money. Crafting homemade decorations provides a low-cost activity for you and your family, creates memories each year, and gives your holiday decor a personal touch.
Ornaments and wreaths are some of the easiest ways to get started with homemade holiday decorations. Need inspiration? We’ve got your covered regardless of how your celebrate this time of year. Check out these articles: 74 DIY Christmas Decorations, 15 DIY Hanukkah Crafts, and DIY Kwanzaa Decor.
Materials you can use to make your own homemade holiday decorations include:
● Candles
● Ribbon and Yarn
● Berries
● Cinnamon Sticks
● Salt Dough
● Dried Oranges
● Old cards
● Dowels
● Scrap wood
● And of course, your imagination!
Add Community Events to your Calendar
If you are looking to celebrate the holidays with plays, concerts, and celebrations, look no further than your community event listings. From Hanukkah menorah lighting ceremonies to local Christmas pageants and Kwanzaa cultural activities, most communities offer free or low-cost activities to brighten your season.
You can find seasonal events through social media pages, community bulletin boards, and newspaper event calendars. Stay in touch with community happenings by volunteering for local events and participating in seasonal community service. Not only will these activities give you something free to do during the holidays, you will have the opportunity to feel good about giving back during the season. Keep an eye out for local holiday events in Collingswood, NJ, Westville, NJ, and Limerick, PA.
Creative and Affordable Gift-Giving
As the holidays approach, many families in New Jersey find themselves spending extra money on presents for friends and family. While you can’t always avoid gift-giving situations, you can plan ahead and save money on this part of holiday celebrations. Here are 3 ways to save money on seasonal gift-giving this year.
Create Handmade Gifts
Handmade presents are not only easy on your wallet, they let the recipient know that you spent extra time and effort creating something special. Handmade gifts often include homemade knit scarves and hats, baked goods and fried foods, personally curated photo albums, candles and other crafts that suit your abilities. Need ideas? Vita Magazine offers a fun list of Kid & Grownup Crafts For Christmas, Hannukah & Kwanzaa.
Prepare Experience Gifts
Sometimes the best gifts aren’t things. You can create memorable experiences that are more valuable than material gifts this holiday season. Start by making a list of things you are good at doing or are available to do in your spare time. Services such as babysitting, meal prepping, and house cleaning can be offered as a one-time gift to a friend. You can also give your family a fun excursion, cook them a nice dinner, or sign them up for a local art class. There are many ways you can provide a unique experience as a gift this year.
Organize a Gift Swap
Purchasing individual gifts for a large family or group of friends can really add up throughout the holiday season. Limit the number of gifts that you need to purchase by organizing a ‘Yankee Swap’ or white elephant gift exchange. Adding a mindful and fun twist to traditional gift exchanges can reduce the number of presents that you need to buy this year.
Practical Budgeting Tips for the Holidays
The best way to protect your financial health this season is to create a holiday budget and stick to it. Start by reviewing your holiday spending from the last few years. Can you identify areas of overspending or habits that you would like to keep this year? Take these lessons and apply them to your new budget. Allocate your spending to the holiday categories that are the most important. Holiday budget categories often include:
● Holiday Travel
● Gift Giving
● Party and Dinner Hosting
● Holiday Decorations
Building a healthy holiday savings account over the course of the year can take the stress out of seasonal spending. Open a goal-focused savings account and add a little money each month. By November you will have a pool of money to budget towards your holiday spending.
Take the Stress out of Holiday Spending
With a little planning and forethought, you can sit back and enjoy the magic and beauty of the holidays. Plan your event calendar to emphasize free and inexpensive festivities around your local community. Brainstorm ways that you can avoid the trap of expensive material goods and prioritize handmade or experience gifts. Stay true to your holiday budget and plan for common seasonal spending items such as presents, decorations, parties, and travel.
You can enter the new year with financial peace of mind if you celebrate the holidays joyfully and responsibly. At 1st Colonial Community Bank, our friendly associates can help you find the best checking and savings accounts to navigate holiday spending. Contact us today to learn how you can start preparing for a financially smart holiday season.