The ongoing global pandemic has significantly altered our daily life, disrupting the status quo, with no signs of things reverting to pre-COVID times soon – if ever. Yet as we approach the holiday season, it’s essential to remember that even in these challenging times, the essence of the holidays remains the same – cherished moments with loved ones and expressing gratitude for our blessings.
Although celebrations might look different this year due to the pandemic, it is quite possible that celebrating them during these times could save us some money – an unexpected silver lining. Even if we don’t celebrate as extravagantly as we’ve done before, the season’s spirit remains.
LESS EXPENSES ON HOLIDAY TRAVEL
While there are numerous ways to save money on holiday travel, this year, most of us won’t be hitting the road or catching a flight. Given this development, we’re already set to save significantly on our holiday expenses. Whether you’re used to jetting off during the holidays or spending relatively modestly on fuel for a road trip, like my family does, staying local will save some money indeed. This saved amount can then be diverted to other holiday areas, such as gifts or a festive meal.
PLANNING YOUR HOLIDAY BUDGET
Most of us tend to splurge during the holiday season, often on expensive gifts. However, the economic impact of the pandemic implies that this year might be different. Wrestling with the realities of job losses and reduced incomes, our financial situations are not the same, prompting reevaluation of our saving habits. Despite the circumstances, it’s possible to celebrate meaningfully – focus on essential gifts and consider giving to charity in lieu of presents.
SPENDING ON FEASTS AND BEVERAGES
The holiday season isn’t just about giving gifts – it’s also a time to indulge in special meals and beverages. With social distancing measures in place, many of us will be having smaller celebrations, automatically reducing food costs. A potluck could also be a fun, cost-saving option that allows everyone to contribute and spend more time enjoying each other’s company rather than cooking and cleaning.
USING SAVINGS APPS
Several cheap yet delicious meal options are available during the holiday season. Savings apps can come in handy, enabling you to combine grocery store sales and coupons. For example, apps such as Ibotta can be used to search for discounts and deals beforehand, making it easier to save. This strategy, coupled with regular visits to your favourite stores for deals and specials, can help you save money. Other money-saving life hacks involve participation in paid surveys from sites like Opinion Outpost, Swagbucks and Survey Junkie, and using apps such as Receipt Hog.
SUMMARY
Even though the holiday season will look different this year due to the pandemic, there is still a lot to look forward to. We can choose to focus on cherishing the moment with our loved ones and use the opportunity to re-assess our financial practices. By being mindful about our spending and making use of available resources, we can make this holiday season memorable while saving money.
Your options may include using travel funds elsewhere in your holiday budget, tightening your holiday budget, reducing gathering size, having a potluck or using savings apps. By implementing these steps, we can enjoy the holidays during these challenging times without compromising our financial stability.
What are your plans for celebrating the holidays while saving money in the era of COVID-19?
