How much will the holiday season cost this year?

We all are feeling the pinch of inflation. Everywhere from gas to the grocery store. Now, with the holiday season looming I am feeling anxious about my spending.

All of the things that make the holiday special like decorations, meals, and parties are up at least 7% according to the October Consumer Price Index.

Here are some good financial tips to help you make the holiday great without breaking the bank.

First, create a spending plan. You can use the envelope method; make an envelope for each group of items (food, presents, decoration, etc…) and put in whatever amount of cash you plan to spend. Or try an easy budgeting worksheet.

Talk to your family; maybe this is the year to start a secret Santa exchange or draw names.

Consider homemade gifts or gifting an experience. Expensive gadgets and toys only last so long but memories last much longer.

You would be wise to put your credit card on ice this year, really on ice. Stick that card in a container of water and freeze it. That will give you time to carefully consider the purchase. But if you are like me and already have it connected to accounts like Amazon and Walmart, just go into your profile and delete it. Online shopping has become WAY too easy.

Give a gift to an entire family or group instead of each individual. This option may save money as well as time searching out gifts for each person.

Finally, set up a holiday savings account for next year; a little bit every week really adds up.

Happy Holidays for UF/IFAS Extension

Check out this blog for additional tips,


Alicia Betancourt, Community and Family Development Extension Agent and County Extension Director for UF/IFAS Extension Monroe County
Posted: November 17, 2022

Category: , Money Matters, UF/IFAS Extension
Tags: Holiday, Inflation, Spending

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