Tips On How To Spend Wisely During A COVID-19 Holiday

Looking for the bets tips on how to spend wisely during the COVID-19 holiday?

The holiday season is here and Christmas is coming.

With a few days left in the calendar until we reach Christmas Day, our spending is expected to soar by he billions.

Celebrating Christmas and New Year is a tradition for most of us. This holiday's observance includes getting together with family and friends, decorating your home with festive decor, and cooking delicious meals… all of which require spending a good amount of cash. Additionally, Christmas sales are everywhere, which may tempt you to spend more than your budget.

With the pandemic this year, should you stop the traditions you are accustomed to due to your limited budget?

You can, but you don't have to.

You can find a way to continue the tradition but with moderation. These tips may help you spend wisely this holiday season to avoid becoming broke after the holidays.

Tips to Spend Wisely During Covid-19 Holiday

1. Set A Budget 

Setting a limit to your spending is one of the best things you can give yourself this holiday as it can spare you from the consequences of overspending.

Set a reasonable amount that you can spend this holiday. In this article about Christmas budgeting, the best thing is to first identify how much you can afford to spend.

You should include everything you need this holiday into that budget, such as Christmas decor, gifts, and most especially, the food and drinks for Christmas Day and New Year's Eve. 

Limiting your spending is a reasonable thing to do not only during a crisis but all year-round, every year. It is the proper way to manage your finances. It is not wrong to indulge yourself once in a while, but you must set a limit. You have to always remind yourself that too much of everything is bad, including your spending.

2. Be Creative

Being creative has no price, and the sky is your limit.

You can reuse old decor from previous years and update them using new ribbons or a few new pieces. Watch some DIY videos online to know what you can do with your old decor that is just sitting in the attic. 

You can also incorporate your creativeness into the gifts you are giving this year. Keep in mind that you are setting a limit. You will only spend a small part of your budget on the gifts this year. This isn't like any other year when you can give expensive gifts to your peers. This year focuses more on smaller and more personalized gifts. 

Another thing to consider is to regift. Regifting is not bad practice as long as the items you are regifting do not have a sentimental value from the giver, and it was not custom-made just for you.

Keep in mind, other than that, all gifts you received can be re-gifted (that is really keeping it budgeted).

3. Consider Taking A Loan 

Read this clearly, I do not recommend taking out a loan for Christmas unless you are really disciplined and can pay it back with no interest charges. Always start with number one.

However, there are some people who strategically use their tax refund or bonusses to pay for Christmas, and use a loan to spend prior.

You can spend loan money this holiday season while you pay it back in the following months in staggered payment. If you are thinking of how to get a quick cash loan for the holidays, you can look for a direct lender that can offer you a quick cash loan. 

By taking a loan, you can make sure your savings won't be touched so that you can still have cash in case of emergencies. With the budget you are setting for your holiday spending, a smaller loan would be ideal. Only take what you need.

4. Look For Coupons And Discounts

Many online retailers offer discounts to consumers who join their email list. You can take advantage of this opportunity this holiday season. Some websites can offer you coupons that you can use when you purchase products on their site. 

Always do research when you plan to purchase something and choose to buy from a store or website that offers great deals and discounts for that specific item. As mentioned earlier, there are so many sales available during this time of the year, and you might want to take advantage of that. 

Also, don't forget to scan your reciepts and use shopping apps like:

These are great ways to save a few dollars and get some cash back when you're shopping!

5. Avoid Last Minute Shopping 

Be proactive in buying all your holiday needs, including gifts.

Rushing to the store for last-minute shopping can result in overspending. Take time to plan your shopping. Create a list and buy it ahead of time to avoid overspending. If you take your time shopping for things you need this holiday, you can have a lot of time to compare prices and choose the lowest price you can find. 

Shopping in a rush can also be very stressful, and you can also find yourself in a crowd of people who are also in a Christmas rush, which is not a good idea with a deadly virus around. You still have a few days left to do your shopping. Better to start now to avoid rushing this Christmas. 

Pro Tip: Get all of your wrapping paper, bags, and decorations the day AFTER Christmas when it is always 50% off! Save it for the next year and avoid buying the last minute gift bag for $5 a pop!

6. Order Online 

Online retailers offer cheaper products compared to malls and other traditional stores. Traditional stores pay for rent and employees, while online retailers save more in rent and manpower. With their savings, they can offer a much cheaper product to their consumer. 

That combined with the Coronavirus Pandemic, it's a safe bet to shop online so you can save money and avoid the large crowds.

There are so many online shopping platforms that, aside from having cheaper products, also offer discounts and free door-to-door delivery, which can help you save money, time, and effort. 


Every cent counts, especially this time of the pandemic, where there is uncertainty in our employment and health.

We must mind our finances now more than ever. Everyone is experiencing the hardship of the pandemic. However, by limiting your expenditures this Christmas, you can still celebrate the holidays without spending too much.

Do your best to support small business owners and don't be afraid to get creative with your gift-giving! Most Americans will rack up $1,000's in credit card debt during Christmas and start their New Year off behind financially.

Lastly, don't be afraid to explore ways to make some additional money on the side of your career to help offset some of the costs!