The holiday parent's guide: Celebrate without breaking the bank

The holidays are a special time to spend with friends and family and appreciate those closest to you. But between party planning, traveling, gifting, and so much more, the holiday expenses can add up. Luckily, there are creative ways of having all the fun you and your family deserve while staying within budget. In this holiday guide for parents, you’ll learn useful budgeting tips that can make your holiday experience merry yet inexpensive.

How to celebrate joyfully on a budget

Setting a holiday budget will help you celebrate the holiday season without spending more than you need to. You'll want to plan ahead so that you’re not pushed into the typical holiday splurge. Set your priorities by noting down the things you intend to buy starting with the most important. That way, you’ll find it easier to cut some things from the bottom in case you run out of cash.

More importantly, stick to the budget once you create it. If you have some flexibility try not to overstretch it. Here are some tips for all of your holiday spending plans.

Wallet-friendly travel tips

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Holiday plans that include traveling can get expensive without early planning. If you're visiting family or friends in another location, avoid waiting until the last minute to book travel, which will be more expensive. If you’re thinking of a family vacation, do your research to find the best rates for the type of trip you’re interested in. In addition, keep these travel budgeting tips in mind:

• Choose your holiday destination wisely: The most affordable places to travel tend to be countries with a low cost of living. They're cheaper in terms of food, accommodation, and logistics.

• Avoid touristy places: These are typically costly to visit and can easily push your budget through the roof. Instead, try to find memorable spots where your family can enjoy some quality time.

• Look at additional fees and exchange rates: Passport (for first-timers) and visa fees will contribute to your total cost, and the latter are quite high in some countries. To enjoy family holidays on a budget, consider countries with either free entry or low visa costs. Additionally, prioritize those on your list with favorable exchange rates.

• Travel light: This will lower your luggage costs and allow your family to move around with ease.

• Plan your own travels: Travel agencies usually mark up prices, and this can increase your costs significantly. Book hotels yourself, plan your transportation, and do your own sightseeing.

Budget-friendly party planning

Holiday parties are among the best traditions because they provide an opportunity to celebrate with those dearest to you. With the right planning, you can prepare affordable meals, DIY decorations, and even throw in some gifts on a budget.

The joy of hosting parties at home

Hosting a party in your own home gives you plenty of control over the event, including the budget. If you’re planning a holiday celebration, make sure to list everything you’ll need ahead of time. Send out invites in advance and keep track of RSVPs so that you don’t buy more things than you need.

Below are some money-saving tips that can help you throw a bash to remember:

• Decorate within budget: Don’t feel pressured to go overboard with the decorations. Your kids and other guests will treasure the holiday experience a lot more than the appearance.

• Hit the thrift store: Many thrift shops have cost-effective items that can help you save some cash. From dinner tables to cookware and everything in between, good thrift stores have many high-quality options.

• Take advantage of discounts: Whether you’re shopping for décor items or family Christmas gifts on a budget, consider shopping in discount retail shops.

• Borrow some things: You don’t need to buy everything if you can borrow from friends or neighbors. Some borrowable items include serving trays, tablecloths, and extra baking pans.

• Keep size in mind: The bigger the party, the costlier it will be. If you’re working with a really tight budget, consider limiting invites to the closest of family and friends.

Stress-free holiday meal planning

A big part of any holiday celebration is meal planning. Whether you’re hosting a party or simply treating your kids to family meals, there are ways of doing it without stress and overspending.

• Make it simple: Choose recipes that are easy to make. Preferably, go with meals and snacks that you can prepare beforehand and store in the fridge, such as dips, so you won’t have to scramble to cook in the final hours.

• Buy generic: Many food items are practically the same whether they’re brand names or generic. Choose the latter to save on costs. If you can, buy non-perishable items before prices start to surge with increasing demand.

Affordable and thoughtful gift-giving ideas

Budgeting for gifts can be tricky. Many parents end up overspending when they can get thoughtful gifts for much less. Generally, meaningful, practical, and durable gifts will always beat their flashy and expensive counterparts. In fact, your loved one may treasure homemade gifts more than store-bought ones. Therefore, focus on gifts that solve a problem and can offer long-term benefits.

Some of the best gifts on a budget include handcrafted personalized items, homemade treats and goodies, experiences, gift cards, and thoughtful subscription services. You can put DIY gifts in stylish and customized gift boxes to spruce them up even more.

Prioritize family time

One great way to save money and have fun is by spending quality time and collecting experiences with family. While staying at home and playing games with the kids is a good option, you can create special experiences by looking for free or affordable attractions, like local lights or holiday shows. In addition to strengthening the family bond, you can use quality time with your kids to set family goals that everyone can pursue.

Make the most out of your holidays with Greenlight

This holiday season, you can minimize costs and maximize fun experiences. The Greenlight debit card helps you save even more. Designed for your kids and teens, the debit card allows them to save on purchases with Greenlight’s 1% cash back*. 

Ready to learn about the world of money? Sign up for Greenlight today!

* Greenlight + Invest families can earn monthly rewards of 1% per annum, Greenlight Core and Greenlight Select families can earn 2% per annum, Greenlight Max families can earn 3% per annum, and Greenlight Infinity families can earn 5% per annum on an average daily savings balance of up to $5,000 per family. Only Greenlight Max and Infinity families can earn 1% cash back on spending monthly. To qualify, the Primary Account must be in Good Standing and have a verified ACH funding account. See Greenlight Terms of Service for details. Subject to change at any time.