Christmas Money-Saving Tips for a Thrifty But Fun Holiday

Ricky Publico

Ricky Publico

Last updated December 16, 2022

It was a long journey, but we'll soon reach the end of 2022! Whether it was a good year or a tough one for you, the holiday season is definitely something to look forward to. What better way to commemorate—or forget—the past year than with some good company and good food?

As the prices of goods continue to soar,[1] however, you might be wondering how your Christmas celebrations will change this year. If you're worried about ruining the festivities due to a smaller budget, don't worry. With only a few days to go until the holidays officially begin, here are some Christmas money-saving tips that won't cheapen your celebration. 

Christmas Money-Saving Tips for 2022

✔️ Save and Spend Your Christmas Bonus Wisely

Bust out that classic Aegis song because it's time for your Christmas bonus and 13th-month pay. You get paid this much only once a year, so handle your money with care.

You have a choice to make: either save all your holiday earnings or spend it all on holiday cheer. There's also a third option that combines both: save and spend.

Divide your earnings in half and use the other half to fund this year's Christmas celebration. Take the opportunity to either start an emergency fund, a retirement fund, or even an investment fund. You can also practice your budgeting skills by managing your expenses for gifts and noche buena.

✔️ Set a Spending Limit for Gifts

christmas money saving tips - spending limit for gifts

Speaking of gifts, you'll undoubtedly spend money on some this December. In previous years, you probably exceeded your budget. Try to solve that this year with this Christmas money-saving tip: setting a spending limit for your gift exchange. 

It's also the perfect time to do so since inflation probably affected everyone's income in one way or another. Talk to your loved ones and convince them to follow a strict spending limit for gifts.

Here's another handy holiday saving tip: why not try a DIY-themed gift exchange with your family and friends? You can also buy gifts in bulk at a cheaper price.

✔️ Hunt for Online Vouchers and Discounts

This Christmas season, harness the power of online retail for your holiday shopping. Avoid crowded malls and tiangges by shopping from the comfort of your own home.

One of the best ways to save during Christmas is to avail of free shipping, discounts, and cash back vouchers. During this season, most online stores offer the same—if not more—promos and discounts as in the malls anyway, so why not avoid the traffic and just swipe away on your phone? 


✔️ Shop Early for Christmas Gifts

christmas money saving tips - shop early

This Christmas money-saving tip won't apply this year since it's already late, but you can bookmark it for next year's holiday shopping strategy. Even if a lot of people shop online these days, the holiday rush is still alive and kicking. Most of the items in your cart probably ran out of stock because of limited stocks.

So shop for gifts as early as October, which is when most big sales start. Take advantage of big online sales like the 10.10, 11.11, and 12.12 sales. You get to tick items off your Christmas checklist and score huge discounts in the process—perfect if you're adamant about saving money for Christmas!

✔️ Prepare Your Very Own Noche Buena Meal

It's tempting to skip the hassle of prepping your noche buena when you can just order from online food delivery services. It's even more tempting to just dine out. But if you're trying to figure out how to save money during Christmas, keep these urges in check and cook your own noche buena meals.

Think about it: shopping for ingredients allows you to add your own twist to your meals without breaking the bank. And sure, preparing a feast for the family can be stressful, but you can lessen the blow by having everyone help out. You can even use this opportunity to bond with everyone as you diligently make graham balls or spaghetti. 

✔️ Don't Blow All Your Money on Your Holiday Outing

christmas money saving tips - don't blow all your money on your holiday outing

Admit it—it's easier to spend money when traveling. After all, when else would you get to enjoy new sights, food, and cultures?

If you want to learn how to save money this holiday season without sucking all the fun out of it, however, you need to rein it in a bit. DIY your travel itinerary, ditch fancy hotels for cheaper hostels, cook from time to time instead of always eating out, and take public transportation when possible.

Also, everything gets more expensive during Christmas time. If you can wait, book your tickets off-season for a belated celebration with your family.

Forget about saving money—why not earn money this holiday season? If you want to increase your budget for either saving or shopping, search for holiday-related gifts online and take up a side hustle that will surely generate a small stream of income.

Here are a few suggestions on how to earn some cash this Christmas:

  • Sell your unused gadgets online to techie gift hunters
  • Cook and sell noche buena food to your neighbors and online customers
  • Bake cookies and other holiday treats and sell them
  • Sell lanterns and other holiday decorations
  • Offer pet-sitting or house-sitting services for vacationing families

✔️ Have a Smaller Scale Christmas Celebration

christmas money saving tip - smaller scale celebration

Let's face it: a lot of us barely got by in 2022 due to the rising cost of living. It's never an option to not celebrate the holidays, even during a crucial time like this, but it may be time to scale back the celebration this year and think of saving. It's a difficult truth we should all swallow.

Instead of a massive feast, a simple dinner is ideal. You can even consider a potluck. Instead of extravagant gifts, choose simple and economical ones.

This is the ultimate Christmas money-saving tip to keep in mind—it's not about the size of the celebration that matters, it's about how you spend it with your loved ones.

Final Thoughts

Finding Christmas money-saving tips is now an essential part of Filipinos' holiday routines. Part of being a financially woke adult is maximizing every peso and saving as much as possible. You can always have your holiday cake and eat it too, as long as you find the right balance between spending for holiday cheer and budgeting for the upcoming year.

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Source:[1] Prices of basic goods up by as high as 13% amid Christmas season —supermarkets group (GMA News Online, November 2022)

Ricky is the zaniest Product Marketing Manager at Moneymax, with over six years of writing experience in the digital marketing industry. He had written for SEO, cybersecurity, and other related industries prior to joining Moneymax. He also specializes in content writing, copywriting, and email marketing. He is a huge fan of pro-wrestling, One Piece, and smartphones in general. Follow Ricky on LinkedIn.


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