The holidays bring so much joy. Unavoidably, though, each year they also bring expenses. From buying groceries for big holiday family meals to gift-giving throughout December, there are so many ways this joyful season becomes an expensive one. 

With prices higher than ever and many folks worrying about inflation, it’s especially important to make sure holiday fun and gift-giving won’t break your budget.  

Here are some great budget friendly holiday savings tips for this  holiday season: 

Smarter Gift-Giving

• Beautiful Baking: If you need to give small gifts to your child’s teachers, your neighbors, coworkers or other folks in your life, those expenses can add up. One practical option is baking a slew of delicious cookies, wrapping them up in pretty gift bags or small boxes (dollar stores often have a great selection of these) and including your recipe printed out neatly on an index card. You can even decorate the recipe card (invite little ones in your family to help with that). Another variation on this: Create a beautiful recipe card and then fill a Mason jar with all the dry ingredients for your cookie recipe. Tie a ribbon around the top of the jar and punch a tiny hole in one corner of your recipe card to tie it to the ribbon. 
• Secret Santa: Instead of having a group of family members all buy individual gifts for each other, go with a “Secret Santa” approach. Put everyone’s name in a hat and then let each family member draw one name. Each person will buy a gift for the family member whose name they picked, and you can set a price limit so that gift-giving stays within everyone’s budget. Make sure to keep the identity of your recipient a secret until you hand over their wrapped gift! 
• Second-hand Shopping: Thrift, consignment, and antique stores might just have some treasures that will make perfect gifts for people you love. 
• Have a toy swap among friends and neighbors, so folks can share gently used toys that their kids no longer use. 

Affordable Entertaining

• It’s such fun to invite a whole crowd of friends and relatives for an evening of holiday cheer. But the grocery bill (and the bakery bill, and the liquor store bill if you’re adding that, too) can get awfully high. This year, instead of buying all the items for a holiday open house, make it a potluck where guests can each bring a dish. To make it even more festive, ask them to bring a recipe card for their dish or baked goods to share with the other guests. 
• If you’re looking to switch up your decorations this year, check out stores like Goodwill, which often have a great selection of holiday items for indoor and outdoor decorating, as well as holiday dishware. (Bonus: You’re helping the environment by buying something vintage rather than something brand new!)

Make Holiday Savings Part of Your Celebration

What if this year, you and your spouse gave each other a bit of money that you invested knowing it will grow in the coming months. This year’s gift can be the knowledge that by next holiday season, you’ll have a bigger nest egg ready to buy something you both really want or take a memorable trip. 

You can talk with someone at the 1st Franklin Financial Investment Center to begin saving with an amount as small as $25. They can share all of the details, so you’ll know exactly how your savings plan will work. And they will keep on working with you as your savings grow. 

Even if holiday costs are a bit higher this year, the Friendly Franklin Folks can help you stay on budget, enjoy this season of celebration and prepare for even brighter financial days ahead. And if you need a little extra financial help this holiday season, simply reach out to your local branch!