Here are 10 fun, practical tips to stay financially sharp and stress-free this holiday season:
- Set your holiday budget. Don’t let December’s credit card purchases haunt you like the Ghost of Christmas Past. Decide now how much you can spend on gifts, travel, and celebrations—without touching your savings. This way, you’re in control and ready to enjoy the season guilt-free. Or, if family and friends are in agreement, call a holiday truce and skip the gifts this year.
- Make a list and check it twice. Plan who’s getting a gift and write it down. That’s your roadmap. And while it’s tempting to grab that hilarious bobblehead that looks just like your buddy, impulse buys can derail your budget faster than a reindeer on ice.
- Leverage military discounts. Your CF One card is your holiday MVP. From CANEX deals to discounts at hundreds of retailers, your military perks can stretch your dollars further. Want a shortcut? Look up a list of stores offering military discounts and start saving.
- Check your feels. Holidays can tug at your heartstrings, especially when thinking of families with deployed loved ones. But remember: your time and presence mean more than anything you can buy. Offer support and connection, not just your wallet.
- Shop early and save big. Procrastination can be pricey. Start shopping sooner to snag the best deals before the shelves are bare or prices skyrocket. Early birds don’t just get the worm - they save their cash, too.
- Give a group gift. Want to give something extra special without blowing your budget? Team up with friends or family to share the cost of a larger gift. It’s a win-win: they get something awesome, and you keep more cash in your pocket.
- Travel and stay together. If you’re traveling, consider carpooling with someone from your unit or base to save on costs. Staying with family or friends may not feel like a five-star hotel, but it’s free - and you’ll make priceless memories.
- Get crafty with DIY gifts. Handmade gifts show thought and care - and they won’t break the bank. Bake cookies, create a personalized photo album, or make something crafty. Online DIY videos aren’t just for civilians - they’re your secret weapon for affordable gift ideas.
- Spend time instead of money. Instead of spending money, give the gift of you. Offer babysitting, pet care, or help with projects. Consider joining a holiday charity event or volunteer with your local military community. Your time and effort are more meaningful than anything wrapped in paper.
- Give the gift of financial wellness. Here’s a next-level idea: open a Registered Education Savings Plan (RESP) for someone under 18 - it’s a gift that keeps on giving. Or, inspire someone with a timeless personal finance book. Want suggestions? Check out this list of 25 all-time favorites.
Bonus: Need extra help with holiday finances?
If budgeting or lingering credit card debt from last year is stressing you out, don’t sweat it - help is at hand. Connect with your local SISIP advisor for tailored advice on managing your finances. They’re experts on all things military life, from pensions and investments to spending and saving.
And if you prefer learning at your own pace, check out the SISIP Money Mastery Portal. It’s packed with free, no-nonsense advice to help you crush your financial goals, not just during the holidays, but all year long.
This season, focus on what really matters: enjoying the holidays, creating memories, and keeping your financial future merry and bright.
Happy Holidays!
