The holidays are here, and with them comes an endless stream of invitations, potlucks, and gatherings. While it’s all festive and fun, the costs of hosting your own party, buying host gifts, or even just showing up with a bottle of wine can add up fast.
Luckily, you don’t have to choose between your social life and your wallet. Read on for 7 smart strategies that’ll help you celebrate the season without breaking the bank.
1. Budget for the holiday party season
Start by setting a realistic budget for all your holiday socializing. Think about how many parties you’ll attend or host and decide how much you can afford to spend on food, drinks, outfits, and gifts. Use MoneyLion’s budgeting tools to plan your expenses and stick to them.
2. Host smart, not expensive
Hosting doesn’t have to mean draining your savings. Here’s how to throw an amazing party on a budget:
- Make it potluck-style: Ask guests to bring a dish or drink to share.
- DIY decorations: Skip pricey store-bought decor and try DIY projects like paper snowflakes, mason jar lanterns, or fun centerpieces. Need some visual inspo? Pinterest is full of holiday decor ideas.
- Shop sales: Stock up on party supplies during sale and promotion periods.
- Limit the bar: Offer one signature drink like a special holiday punch instead of a full bar.
3. BYOB without being rude
If you’re invited to a party, the expectation is often to bring a drink or snack. Instead of splurging on top-shelf wine, consider:
- Checking discount stores: Look for affordable options at places like Trader Joe’s or Aldi.
- Bringing a non-alcoholic drink: Sparkling cider is festive, affordable, and often overlooked.
- Making a homemade treat: Spiced nuts or holiday cookie mix in a jar are thoughtful and inexpensive.
4. Gift creatively on a budget
Host gifts are a thoughtful touch, but they don’t have to cost a fortune. Try these ideas:
- DIY gifts: Make candles, body scrubs, or infused olive oils.
- Practical but festive: Bring a potted plant, a festive dish towel, or gourmet hot cocoa packets.
- Split the cost: If you’re attending as a group, pitch in on a larger gift like a cheese board set or a wine subscription.
5. Navigate nights out with friends
Meeting friends at restaurants or bars can get pricey. Here’s how to save:
- Eat beforehand: Have a light meal at home so you can skip appetizers or extras.
- Stick to happy hour: Suggest meeting during discounted times to save on food and drinks.
- Split smartly: Use apps like Splitwise to divide costs fairly and avoid overpaying.
6. Dress festively without overspending
The pressure to look fabulous at every event can lead to overspending on outfits. Avoid that trap by:
- Shopping secondhand: Thrift stores or apps like Poshmark offer stylish finds at a fraction of the cost.
- Swapping outfits: Trade clothes with friends to get a new look for free.
- Investing in versatile staples: A black dress or blazer can be styled multiple ways for different events.
7. Take advantage of cashback rewards
Whether you’re buying groceries for your party or gifts for your host, make sure to use cashback apps and cashback credit cards. MoneyLion WOW members can earn cashback rewards on eligible purchases, so every dollar spent gets you closer to savings, for the holidays and way beyond.
Spend less — and de-stress
Holiday parties are about celebrating the season with loved ones — not stressing over expenses. With a little planning and creativity, you can enjoy every gathering without worrying about your bank balance. And don’t forget: MoneyLion’s tools can help you stay on budget and make the most of every dollar this season. Download the app today.
