Spread Holiday Cheer Without Breaking The Bank

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Last Updated on August 29, 2019 by

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

Spread Holiday Cheer Without Breaking The Bank

Spread Holiday Cheer Without Breaking The Bank

I just love the holidays.  Spending time with family and friends is priceless.  The decorations, the cooler weather, the delicious food, helping others, I just love it all!  There is a financial responsibility around this time of year though too, many of us will be buying presents for loved ones, baking for neighbors, treats for teachers and more.

Holidays are “the most wonderful time of the year” but you don’t want to start the new year stressed about finances.  The National Retail Federation predicts a 3.7 % increase in sales this holiday season, 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

There is definitely a temptation to spend too much on gifts, with all the “deals” everywhere, you feel like you have to grab the special price while you can!  This can lead to a serious case of buyer’s remorse come January. Regions Bank, one of the largest U.S. banks with 1,630 branches across 16 states (including right here in Florida), has insights for us consumers on how to prepare financially for the holiday shopping season.  I don’t know about you, but I can always use extra advice on how to save a few bucks!

4 Tips on How to Save Money This Holiday Season:

  1. Begin with the golden rule Spending on gifts shouldn’t exceed more than 1.5% of your annual income. Use this rule as a guide to determine how much you should set aside to spend on gifts for your friends and family — and be sure to stick to it.
  2. Separate and delegate Consider 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.  My parents have done this for as long as I can remember!
  3. Only buy what you can truly afford To prevent overspending, never leave home without a list of what you intend to buy (and stick to the list!), and be sure you have the money needed to cover your purchases once you arrive in-store.
  4. 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.

December is just a few days away, that means NOW is the time to start mapping out your holiday shopping plans. Take the time to establish a benchmark based on your income; create a holiday savings account, and fund it regularly; be sure you’re purchasing within the parameters of what you can truly afford; and know when to buy and when to wait.

Holidays are meant to fill the heart — not empty the wallet!

Looking for cost effective gift ideas this holiday season?  Check out these thoughtful and creative DIY gift ideas that are sure to warm the heart of any recipient.


How to save money over the holidays

Christmas Mason Jars

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Handmade Paint Swirl OrnamentsKids can make these

Be sure to follow Food Wine Sunshine on Facebook, Twitter, Pinterest, Google + and Instagram for more family fun! Get the holiday products from Target Weekly Ad !



Comment section

2 thoughts on “Spread Holiday Cheer Without Breaking The Bank

  1. I admit that I have never heard of the first rule (1.5%) but, the rest is obvious. I like it! Something for me to tally.

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