The holiday season is filled with sales, shopping and gift giving. While that’s all fun and festive, after the presents are unwrapped and the parties are over, your bank account might be making you feel anything but festive. When it comes to parties, outings, and of course, gift exchanges, it’s easy to empty your pockets. Here are some tips to get to through the holiday season without completely draining your bank account.
- Set A Spending Budget
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Start with having an idea of how much you want to spend. Figure out how much money will go to each thing on your list, and be sure to be consistent in tracking your spending. This will give you an idea of what you can and can’t afford, and can help prevent an impromptu shopping spree even though it might be tempting.
- Shop Early
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Don’t wait until the last second to get your shopping done. Get started early, when the big sales are still going on- especially days like Black Friday and Cyber Money. It’ll also save you some stress later on, because you won’t need to run out and buy something the day before you exchange gifts. This year, Black Friday sales are being extended throughout the month of December and are being done predominantly online. This way you can shop both early and from the comfort of your own home.
- Do Group Gifts
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Instead of buying a gift for every one of your friends or for everyone in your family, consider doing group gifts instead. For example, team up with your siblings to get a combined gift for your parents and split the cost. By pooling your money together and focusing on one gift, you will have the means to spend your money on a thoughtful gift for the person in mind.
- Set A Price Limit On Gifts
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Talk to your family and friends to figure out a price range for buying presents. This may seem a little awkward to bring up, but people will probably be relieved if you do. Nothing is worse than picking out gifts when you have no idea what other people are spending on them. Without fail, every holiday season I find myself overspending because I have no clue what I SHOULD be spending.
- Find Stores Who Offer Student Discounts
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A lot of stores, especially on their website offer student discounts anywhere from 10-20%. I’d recommend making an account with UNiDAYS, a website that offers discounts for everything from clothes to technology to food. It’s also free to make an account, so it’s a win-win for broke college kids everywhere.
- Use Your College Merch As Gifts
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What better way to show off some school pride than to give everyone around you some college merch? This is a great idea for family members, because relatives love rep where you go (especially Penn State families). Clothes at the bookstore can be pretty pricey though, so maybe avoid the Nike products or other high-end options. There are also other options besides the official school bookstore that offer clothes that are still gift-worthy at a lower price. For my Penn State readers, there’s a ton of places downtown besides McClanahan’s.
- Don’t Feel Guilty If You Can’t Spend A Lot
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We’re in college. Nobody expects us to be the local Santa Claus who gets extravagant gifts for everyone we know. People will understand if you don’t have a lot of spare money during the holidays. Don’t spend what you don’t have- and more importantly, don’t bring yourself down for it.
Happy Holidays, colligiettes!