The holidays are here and that also means your monthly expenses have gone up thanks to buying presents, traveling and entertaining. Don’t worry! You can avoid holiday debt with some holiday money saving tips. In fact, last year’s holiday debt statistics showed American’s debt increased by $986 on average, which took an approximate 5 months to pay off. Follow these tips to save money during the holidays to ensure you live a debt free life. As an extra bonus we’ve included a downloadable holiday budget worksheet to help you stay on budget this season.

Holiday Money Saving Tips


Shop Online

By shopping online you can price compare easily, shop discounted websites and find the latest specials and coupons for saving money during the holidays. Sites like eBay and Craigslist can also be a great source for reasonably priced gifts that can also be unique and rare. If you see something you like at a brick and mortar store, be sure to check its price online. is a great source for buying products at the best price.

PRO TIP: According to a recent New York Times report, online retailers tend to offer the best deals on Tuesdays.


Develop A Holiday Budget And Stick To It

Set a spending limit and make sure you stay with it. Without a spending game plan, it’s more than likely that you’ll end up buying more than you intended.  Take time to write down the people that you’ll be gifting this year and then make sure to record your spending as you go, so that you know when you’ve reached your limit. It’s very important to stick to the budget once you’ve made it. If you don’t, you may regret it once the credit card bills arrive in January.

To help you stick to your holiday budget we have a Holiday Budget Worksheet Download for you!


Create a DIY Gift

Create a DIY gift for the holidays that’s both creative and personable. Pinterest is a great source of inspiration for handmade gifts that can be a cheaper alternative to store bought gifts. Think about what the person may want or need then incorporate your own talents. For example: create a photo album or decorate a picture frame; knit a blanket or scarf; give a coupon for a home-cooked meal, babysitting time or anything else creative and practically free things you could give or make.


Use Your Credit Card Wisely

If you want to avoid holiday credit card debt you need to make sure you treat credit cards like cash. Don’t spend more than you can afford to pay your statement balance the next month. If you don’t think you can keep to your budget, don’t use your credit card.  Using a credit card can be beneficial though, because you can often earn cash back and other rewards with transactions. Last year the average holiday credit card debt made up 52% of consumers holiday debt. Use your credit card wisely and you can end up saving money through credit card rewards programs.


Follow Your Favorite Retailers On Facebook and Instagram

Many stores post exclusive discounts and sales on social media for their followers. It’s a good idea to make sure you follow stores where you might be shopping, so you can catch their best prices. Don’t forget to sign up for their newsletters and check their websites for their latest deals and specials.


Money Saving Tips For The Holidays

There are many ways to save during the holidays, so get creative and shop smart to avoid holiday debt this season. Continue living a debt free life after the holidays by viewing our other money saving tips and following The Gamez Law Firm on Facebook!



Daniel R. Gamez, an attorney focusing exclusively in debt relief, is licensed to practice in all state and federal courts in California and Texas. Mr. Gamez owns and operates the Gamez Law Firm in San Diego, CA. For more information, please contact Daniel Gamez at 858-217-5051, or use our online contact form. Stay updated with the latest debt relief tips by following on Facebook and Twitter!