Smart Ways to Avoid Overspending and to Keep Your Wallet Full for the Holidays

 

Mall hours have extended and every store seems to have a big 50% off sign. Christmas has transformed into this spending spree, often viewed as a dedicated time of the year to shop for gifts to give our loved ones. However, there are times when the pressure that comes with the season of giving is increasing people’s tendency to overspend—a common pitfall to starting the new year with financial burden.

Still, you don't have to deprive yourself to avoid overspending this season. Instead of a one-time big material purchase, invest in something more productive and that will strengthen your healthy financial habits for the next year. To help you keep your wallet full throughout the holidays, here are four ways you can try:

1. Create a holiday budget

While budgeting seems to be a very common practice among Filipinos, many still overlook other costs beyond just planning for gifts and noche buena groceries. It is also important to set limits for decorations, travel, entertainment, and even gifts that are helpful in having realistic expectations. This is the number one way to avoid spontaneous buys that may lead to inaccurate tracking of purchases, improper use of savings, or worse, having none at all.

2. Check the prices and track your total

Not just because an item is on sale, means it’s already worth buying. It is good practice to consider that heavily discounted items may be part of a seasonal clearance or may occasionally have minor packaging or display imperfections. Always compare the price and quality against similar items as this pause allows you to make more informed decisions and ensures the purchase aligns with your set budget.

3. Consider non-traditional/hand-made gifts

Sometimes, hand-crafted or non-traditional gifts carry more meaning than expensive, store-bought items. You can either opt for activities, DIYing gifts, or offer valuable gestures like a "One Home-Cooked Meal of Your Choice", or you can also support small local businesses that would genuinely benefit from your purchases. These practices cost little to no money but are surely high in sentimental value, reduces clutter, and perfect for those who already seem to have every material thing.

4. Set smart financial goals

Beyond spending, Christmas also offers a gift of time and rest, letting you use the holiday to reflect and pivot from seasonal spending to long-term saving. It is important to use this downtime to create a clear financial plan so you can fund future major milestones—be it your next holiday, or life investments such as buying a house, setting up a business, or building an emergency fund.


The fun in the season of giving should not come with the pressure and common misconception that equates material gifts with love or worth. It is important to reframe the holidays away from consumerism. By prioritizing sustainable financial habits during this time, you can easily safeguard your budget and proactively manage your money just in time for the new year.

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