Money-Saving Tips for the Holidays

So this is Christmas… in Cebu. Unfortunately, consumerism is apparent, especially with the rise of two new mega-malls this year, which carry a wide selection of international labels. From purchasing Christmas lanterns (parols) and Christmas trees, preparing a noche buena feast, buying presents for family, relatives and godsons/goddaughters, and hiring food catering services for Christmas/BNew Year parties, money is involved.







Overseas Filipino Workers (OFWs) who come home to celebrate Christmas and New Year with their loved ones will most likely feel this the most. Many relatives and friends will drop by to ask for gifts from abroad (pasalubong) or Christmas presents.



As December is the season when a lot of bonuses are released, money seems to be a-plenty. But what will happen after Christmas or New Year?



Here are a few money-saving tips for the holidays:



  1. Save up at least 50% of your total bonuses. Do not spend it. Instead, add it into your emergency fund.


  2. Do not eat out a lot. Home cooked meals are still the best. Don’t be wasteful and cook too much though.


  3. You don’t need to head to the cinema or go out a lot to enjoy yourselves. You can have fun with your friends and family at home, watching movies, playing board games or singing karaoke sings (one the all-time favorite Filipino pastime).


  4. Don’t buy unnecessary stuff just because they are on sale. Yes, it may only be P100 and yes, the original price may be P500, but do you absolutely need it? If you don’t, put it back on the shelf and walk away.


  5. Staycations are fun, but keep a strict budget. If the hotel stay exceeds your allotted amount, then do not bother. Overnight stays are fun, but there are still so much more fun activities you can do with your money, when you think about it.


Any more suggestions? Feel free to let us know in the comment box below!