This year we continue to see people struggle with affording basic living expenses, and the holiday season only brings anxiety around expectations and creating a memorable holiday for loved ones. Here are some tips to do things differently, and help not only your pocketbook but others:

1 – Giving: 2024 has been hard for so many, so if you can, please give. Giving Tuesday is on December 3rd, and many organizations have matching or other campaigns happening. Get your workplace involved in helping community social service organizations like a food bank or women and childrens’ organizations.

2 – Embrace a Handmade Philosophy:  if you have people in your family who are just difficult to shop for, consider making your gifts instead. This can be a great holiday activity with the kids too! Having something personal, handmade and sentimental can make a more meaningful impact than anything purchased at a gift sore or on Amazon.

3 – Make a List & Check it Twice: especially if money’s tight, being organized can help you to stay on track and not overbuy (especially if shopping online)

4 – Reimagine some Traditions: post-COVID has seen the return of many events, and parties, and with those additional expenses. Don’t be afraid to buck the expectations of a new outfit for that workplace holiday party, or providing all the refreshments and food for family get-togethers. Take this opportunity to reimagine the holidays so they can still be joyful. Potluck Family Christmas Party anyone?

5 – Give fewer Gifts: as family members get older, rethink how you do gift-giving. With teenagers and young adults, it may be time for a “Secret Santa” instead of the parents giving gifts to all the kids. Likewise, friendship groups may want to consider giving to charity collectively, or doing a white elephant gift exchange. Remember to be mindful of different financial positions, especially at the holidays.

6 – Cash is King: and by cash, I mean not credit. Using your Debit (or a virtual VISA debit card online) instead of credit can help you stay on budget and save on interest if you don’t make those payments right away.

7 – Take Advantage of Sales: save money wherever you can… it’s never a bad idea to get more bang for your buck. Note that the federal government is proposing an HST tax break from December 14-February 15, 2025.

8 – End-of-Year Business Expenses: why pay more income tax than you have to? For those who are self-employed, it’s a great time to look at any additional business expenses that may be needed, and possibly even get a good deal on them. Don’t spend if you don’t have the cashflow, and be mindful of your tax installments, but why wait until January if you can include it in December?

9 – Shop Local Small Business:  wherever possible, shop small business. This may be in a gift card to a local spa, or some stocking stuffers from stores or handmade markets. The $20 spent at a small business can make a big impact to that business owner, whereas it’s just a drop in the ocean for big box stores like Walmart. Many small businesses have e-commerce online shopping capabilities, so you can support local small business even without heading into the store.

10 – Sustainable Gift Wrapping: save some dollars and get creative using newspaper, or reusing gift bags or the like for your giving. And, if you’re mailing gifts to loved ones you can still reuse boxes and wrapping in fun and creative ways.

11 – Destigmatize Regifting: there’s nothing wrong with regifting something, mindfully. For example, maybe someone has given you a gift card that you’ve not yet used. There’s no shame in regifting it to someone else if you’re trying to save money.

12 – Spend Time… Go Dutch: if you’re anything like me, the holiday social time almost always consists of a restaurant or cafe. If it’s a challenge to afford all the social activities, go dutch across the board. And no, I don’t mean to “split” the bill, but rather have separate bills so that everyone is only paying for what THEY choose to order. This, surprisingly, is one of the biggest issues in friend groups where people have varied incomes. It reminds me of an old episode of “Friends“.