Adapted from the following original Savvy Ladies articles: “3 Places to Save Money Around the Holidays”, “Suze Orman on Limiting Holiday Spending Damage” by Stacy Francis, CFP®, CDFA, “Top Tips for Saving on Holiday Airfare” by Stacy Francis, CFP®, CDFA, and “On the 12 Days of Christmas” by Susan Hirshman.
The holidays are a season of celebration—family gatherings, traditions, and moments that bring joy and connection. But for many women, they’re also a season of financial pressure. Between gift-giving, travel, hosting, and year-end obligations, it’s easy for spending to snowball and stress to creep in.
The good news? With a little planning and a few smart strategies, you can enjoy a wonderful holiday season without derailing your financial goals. This guide brings together some of Savvy Ladies’ best advice from previous years to help you stay grounded, intentional, and confident every step of the way.
1. Start With a Holiday Spending Plan
Make a budget—and check it twice
Before the shopping begins, outline what you can comfortably spend this season. Include categories like gifts, travel, food and hosting, décor, end-of-year giving, and special activities. Create a simple list or spreadsheet with:
- Everyone you plan to shop for
- Your spending limit per person
- Running totals as you purchase to find out how much money you have left to spend
Tracking keeps you honest, avoids surprises, and helps you stay in control.
Understand the true cost of credit
If you’re planning to pay off holiday purchases over time, assume every $1 spent on a credit card may end up costing closer to $2 with interest. Consider avoiding:
- Store credit cards, which entice you with discounts but often lead to overspending
- Promotional offers you didn’t plan for
- “Buy now, pay later” loans, which can stack up quietly
Your future self will thank you.
READ ALSO: Credit Card Finance Charge Calculator
Give gifts, not guilt
The holidays aren’t a measure of how much you spend. Your loved ones won’t cherish a gift more just because it cost an extra $50—and certainly not if it creates financial strain for you. If you’re navigating a tight budget, consider:
- Sharing your situation honestly
- Setting family spending caps
- Doing a gift exchange
- Offering experiences, homemade treats, or acts of service
You can’t buy love—and you don’t need to.
To learn more, watch the Budgeting for the Holidays webinar at the end of this article.
WATCH: Budgeting for the Holidays | Savvy Sessions
With Loren Flood, CFP®, MSFS, AFC®, Julia Lilly, CFP®, MBA, ABFP℠, Wahidah Aziz, and Kaysian Gordon, CFP®, CPA. Get insights on preparing for seasonal expenses, creating healthy boundaries around holiday spending and setting up your budget for a strong start in the new year.
2. Smart Ways to Save Throughout the Season
Shop thoughtfully, not reactively
Avoid last-minute panic buying, where overspending tends to happen. Instead, spread out big purchases over several months, research the best time of year to buy high-ticket items and use price trackers and browser extensions to compare deals. Intentional shopping gives you more choice, less stress, and better prices.
Avoid the gift card trap
Gift cards should feel like free money—not a discount on something pricier. If you receive a $100 gift card, challenge yourself to spend $100, not $150. Anything beyond the card’s value comes from your budget, not the gift.
Tame the “small” daily expenses
Dining out and convenience purchases can quietly eat up holiday funds. Consider cooking at home more often, planning pot-luck gatherings or trying meal kits if you still crave restaurant-quality meals without restaurant prices. Even small shifts can free up meaningful space in your holiday budget.
Audit your subscriptions
Most Americans underestimate how much they spend on subscriptions, and many are unused or forgotten. Do a year-end subscription sweep: review your app store subscriptions, check credit card statements and cancel or pause anything you don’t use. The savings can be significant.
3. Save on Holiday Travel
Holiday flights often come with higher prices and fierce competition. A few tweaks can make a big difference.
- Book early. Buying tickets 30+ days in advance gives you the best shot at reasonable fares and better seat availability.
- Be flexible. Avoiding flying on certain dates, and traveling on less popular dates—especially the holiday itself—can lead to dramatic savings.
- Use flexible search tools. Compare options on: Google Flights, Skyscanner, Kayak, Hopper, Momondo or the airline direct websites. A little comparison shopping goes a long way.
- Consider alternate airports and packages. Smaller airports may offer lower fares and better availability. If you need a hotel too, bundle deals can reduce the total cost of travel.
4. A “12 Days of Financial Peace” Holiday Checkup
This year-end ritual helps you give yourself the greatest gift of all: peace of mind. You can complete these over 12 days—or simply choose the areas that matter most to you.
Day 1 – Review your life insurance coverage. Is it working as projected? Is the pricing up to date? Is the coverage in line with your needs?
Day 2 – Revisit your retirement goals. Are the assumptions realistic? Is it a priority? Are you on track?
Day 3 – Assess your emergency savings. Do you have any? Is it liquid? What do you want it to cover?
Day 4 – Review your disability coverage. Do you have any? Do you know what your policy covers, for example is it your own occupation or any occupation?
Day 5 – Update your estate plan (or lack thereof.) Are the guardians you named for your children still the right choice? Is the executor the right choice? Has your life circumstances changed and those changes are not reflected in your will?
Day 6 – Evaluate your need for long-term care insurance. What is your family’s health and longevity history? Do you have family members that would be willing and able to take care of you in the manner that you choose?
Day 7 – Reflect on your health and financial well-being. Are your health goals and wealth goals aligned? Are you caring for your health in ways that also support long-term financial confidence and stability?
Day 8: Review your investment habits and performance. Are you an emotional investor? Do you end up buying high and selling low? How long do you usually hold on to a mutual fund?
Day 9: Replace a few hours of online scrolling with financial education. Are you using your digital downtime in ways that support your financial confidence and future?
Day 10 – Check your umbrella policy. Do you have one? Is it sufficient? When was the last time you revisited it? Experts report that only 10%of people have the proper umbrella policy.
Day 11: Make sure you are familiar with all your household finances. Are you aware of all accounts, obligations, and financial decisions in your household? If something changed tomorrow, would you know exactly where your finances stand?
Day 12: Audit your credit cards. Understand your interest rates, payment options. Make sure you are not paying more than you have to.
Each small step strengthens your financial foundation for the new year ahead.
A joyful holiday season doesn’t require overspending. With a plan, intentional choices, and a little financial self-care, you can celebrate meaningfully, avoid holiday debt, protect your long-term goals and enter the new year on solid financial footing. And remember: you are not alone. The Savvy Ladies community and our Free Financial Helpline are here to support you with guidance, encouragement, and personalized answers to your financial questions.
Here’s to a joyful, empowered, financially confident holiday season.
