Home > Personal Finance > 7 Holiday Savings Tips for Newlyweds

Comments 0 Comments

If this is your first holiday season together as a married couple, and you’re still learning how to budget as a household for this time of year, know that there are many ways enjoy the season without breaking the bank. Here are a few ways my husband, James, and I are planning to celebrate while sticking to our budget.

1. Scale Back the Date Nights

It’s likely that you will be seeing friends coming into town, going to dinners with your families and have holiday parties. Treat these occasions as date night. As newlyweds you may still be in the phase where family and friends treat you. Rejoice!

Trimming the tree can be an in-the-house date night too — don’t undervalue “in-house” experiences.

2. Hold Back on Buying New Items That Aren’t Gifts

Even though I really want to buy Christmas stockings and decorations, I’m not going to. My husband and I live in a small apartment and not many people would even be able to enjoy our holiday cheer. Instead, I will be buying a few items after Christmas, when they’re 50-70% off.

3. Give the Gift of Satisfying a Need

Of course, we want to give the fun stuff. A lot of that is novelty, though. At the newlywed stage in our lives, we still have needs, like a space heater and a down comforter! Do I want things like Chromecast, tickets to the Atlanta Ballet and a pretty watch? Oh, absolutely. Perhaps there is room in your budget for both. Save money together by gifting needs before wants, and be honest when others ask what you want. It’s OK to ask your parents for a down comforter. (Especially the ones who keep asking about grandbabies.)

4. Shop Online

James saved almost 50% off the in-store price for my gift, just by taking the time to search deals online. He probably spent the same (or less) time as in-store shopping. The same was true for me. Also, shopping online eliminates the distractions of unbudgeted purchases. It’s tempting to pick up something for yourself, or even something extra to go along with your intended gift.

5. Make the Most of Free & Inexpensive Holiday Treats

We live one mile from a cute downtown area which is now covered in lights, tinsel and holiday cheer. We can turn a long dog walk into a cozy mini-date by walking to the coffee shop, sipping something warm and taking a stroll through the decorations. You can even cut the coffee cost out by making your own hot chocolate.

6. Plan in Advance & Shift Your Budget

This is a season where more money is spent, whether it is on plane tickets to see family, gifts or snow tires. You can anticipate some of these needs and put money toward these areas in advance. For example, my husband is a groomsman in a wedding right before the holidays in Minnesota. We honestly cannot afford for me to go as well, which is sad, but it’s a sacrifice we’re making. We bought his ticket in October so that it wouldn’t be an expense along with Christmas. When you can’t plan in advance as much as you would like to, shift money from one area to another. For example, our budget includes a clothing allowance. Instead of buying new clothes we used that money for gifts and miscellaneous holiday expenses, like extra gas. We also took away some from date nights, because between family and friends, we have a lot of fun parties and dinners to go to.

7. Remember: If You Can’t Afford It, You Can’t Afford It

Resist the temptation to use your credit card for a big ticket item you cannot actually afford right now. Spending money that you don’t have can lead to debt that lingers far into the next year. (This calculator can tell you how long it would take you to pay off those credit card purchases, which can help you plan, or can motivate you avoid overspending to begin with.) Be consoled in knowing that many items will be on sale soon after the holidays!

More Money-Saving Reads:

Image courtesy of Maggie Perkins

Comments on articles and responses to those comments are not provided or commissioned by a bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by a bank advertiser. It is not a bank advertiser's responsibility to ensure all posts and/or questions are answered.

Please note that our comments are moderated, so it may take a little time before you see them on the page. Thanks for your patience.

Certain credit cards and other financial products mentioned in this and other articles on Credit.com News & Advice may also be offered through Credit.com product pages, and Credit.com will be compensated if our users apply for and ultimately sign up for any of these cards or products. However, this relationship does not result in any preferential editorial treatment.

Hello, Reader!

Thanks for checking out Credit.com. We hope you find the site and the journalism we produce useful. We wanted to take some time to tell you a bit about ourselves.

Our People

The Credit.com editorial team is staffed by a team of editors and reporters, each with many years of financial reporting experience. We’ve worked for places like the New York Times, American Banker, Frontline, TheStreet.com, Business Insider, ABC News, NBC News, CNBC and many others. We also employ a few freelancers and more than 50 contributors (these are typically subject matter experts from the worlds of finance, academia, politics, business and elsewhere).

Our Reporting

We take great pains to ensure that the articles, video and graphics you see on Credit.com are thoroughly reported and fact-checked. Each story is read by two separate editors, and we adhere to the highest editorial standards. We’re not perfect, however, and if you see something that you think is wrong, please email us at editorial team [at] credit [dot] com,

The Credit.com editorial team is committed to providing our readers and viewers with sound, well-reported and understandable information designed to inform and empower. We won’t tell you what to do. We will, however, do our best to explain the consequences of various actions, thereby arming you with the information you need to make decisions that are in your best interests. We also write about things relating to money and finance we think are interesting and want to share.

In addition to appearing on Credit.com, our articles are syndicated to dozens of other news sites. We have more than 100 partners, including MSN, ABC News, CBS News, Yahoo, Marketwatch, Scripps, Money Magazine and many others. This network operates similarly to the Associated Press or Reuters, except we focus almost exclusively on issues relating to personal finance. These are not advertorial or paid placements, rather we provide these articles to our partners in most cases for free. These relationships create more awareness of Credit.com in general and they result in more traffic to us as well.

Our Business Model

Credit.com’s journalism is largely supported by an e-commerce business model. Rather than rely on revenue from display ad impressions, Credit.com maintains a financial marketplace separate from its editorial pages. When someone navigates to those pages, and applies for a credit card, for example, Credit.com will get paid what is essentially a finder’s fee if that person ends up getting the card. That doesn’t mean, however, that our editorial decisions are informed by the products available in our marketplace. The editorial team chooses what to write about and how to write about it independently of the decisions and priorities of the business side of the company. In fact, we maintain a strict and important firewall between the editorial and business departments. Our mission as journalists is to serve the reader, not the advertiser. In that sense, we are no different from any other news organization that is supported by ad revenue.

Visitors to Credit.com are also able to register for a free Credit.com account, which gives them access to a tool called The Credit Report Card. This tool provides users with two free credit scores and a breakdown of the information in their Experian credit report, updated twice monthly. Again, this tool is entirely free, and we mention that frequently in our articles, because we think that it’s a good thing for users to have access to data like this. Separate from its educational value, there is also a business angle to the Credit Report Card. Registered users can be matched with products and services for which they are most likely to qualify. In other words, if you register and you find that your credit is less than stellar, Credit.com won’t recommend a high-end platinum credit card that requires an excellent credit score You’d likely get rejected, and that’s no good for you or Credit.com. You’d be no closer to getting a product you need, there’d be a wasted inquiry on your credit report, and Credit.com wouldn’t get paid. These are essentially what are commonly referred to as "targeted ads" in the world of the Internet. Despite all of this, however, even if you never apply for any product, the Credit Report Card will remain free, and none of this will impact how the editorial team reports on credit and credit scores.

Our Owners

Credit.com is owned by Progrexion Holdings Inc. which is the owner and administrator of a number of business related to credit and credit repair, including CreditRepair.com, and eFolks. In addition, Progrexion also provides services to Lexington Law Firm as a third party provider. Despite being owned by Progrexion, it is not the role of the Credit.com editorial team to advocate the use of the company’s other services. In articles, reporters may mention credit repair as an option, for example, but we’ll also be sure to note the various alternatives to that service. Furthermore, you may see ads for credit repair services on Credit.com, but the editorial team isn’t responsible for the creation or implementation of those ads, anymore than reporters for the New York Times or Washington Post are responsible for the ads on their sites.

Your Stories

Lastly, much of what we do is informed by our own experiences as well as the experiences of our readers. We want to tell your stories if you’re interested in sharing them. Please email us at story ideas [at] credit [dot] com with ideas or visit us on Facebook or Twitter.

Thanks for stopping by.

- The Credit.com Editorial Team