3 Ways to Save $100 This December

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Looking to close out the year with more savings? Read on to see how. 

For many people, December is unquestionably the most expensive month of the year. It’s when a lot of holiday shopping tends to happen, and it’s when kids get an extended break from school.

As such, it can be hard to add to your savings account balance at a time when you’re generally spending more money than usual. But if you do these things, you may find that you’re able to boost your personal cash reserves by $100 this month.

1. Buy fewer holiday gifts

If you didn’t load up on holiday gifts during Black Friday or Cyber Monday, you may be deep in the throes of holiday shopping now. Data from TransUnion finds that more than half of Americans expect to spend upward of $500 on the holidays. But if you’re able to whittle down your gift list, you can bank an extra $100 rather than add it to your credit card tab.

Think about the people in your life who you can give something homemade to rather than store-bought. Your child’s teacher probably doesn’t want your homemade cookies, as well-intentioned as an idea like that might be. So that’s a situation where it’s worth gifting a store-bought box of candy instead. But when it comes to your mom, sister, and aunt, why not replace an expensive item with something you create in your own kitchen?

2. Host a potluck Christmas dinner instead of catering or doing all the cooking yourself

If hosting Christmas dinner usually falls on you, then you’re no doubt aware that it can be a big expense, especially if you’re feeding a crowd. If you typically cater that meal, try doing things differently this year. Rather than shell out hundreds of dollars, make a few main dishes and ask your guests to contribute sides, appetizers, beverages, and desserts.

Even if you normally do all of the cooking yourself, that’s still apt to result in a pretty large grocery bill. Asking guests to bring items for that meal could not only help you save money, but also take a lot of work off your plate.

3. Find low-cost entertainment during your kids’ winter break

Schools are commonly closed during the period between Christmas and the start of the new year. That can be a nice opportunity to bond with your kids. But keeping them busy can also get expensive. Instead of spending the week going to the movies, dining out, and spending a small fortune at the bowling alley or arcade, find ways to entertain your kids for less.

Round up some of their favorite movies and have a daytime marathon at home. Go on a scavenger hunt through town, or take a hike if the weather cooperates. And if you have fellow parents in the same boat, the simple act of taking turns having each other’s kids over could give everyone a nice change of scenery without any sort of financial outlay.

December can be a pretty tricky month to save money. But if you play your cards right, you may find that you’re able to close out the year with a little more cash in the bank.

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