SUMMARY
- The holidays don’t have to be a time of overspending
- Base your spending on your finances, shorten your gift list, and set a budget
- Spending time with someone can be more valuable than a gift you buy
- Be mindful of scams during the holidays; setting alerts can help you stay on budget and notify you of suspicious activity
- Contact FIGFCU if you notice any suspicious activity on your accounts
The holiday season has begun. No doubt you’ve made purchases for family and friends. When this blog appeared in December 2024, the November inflation rate was 2.7%.* As of this publication, the September 2025 inflation rate was 3.00%.** Like most people, you don’t need statistics and charts to know that it feels like everything has become more expensive. To help you avoid overspending, take a moment to consider these seven creative ways to keep your holiday budget on track.
1. Base your holiday spending on your finances, not the wants of others.
Never allow the wants of people on your gift list to drive your spending. Doing so is a sure path to financial trouble. Your teenager might love a new mobile phone or the latest headphones, but your budget might not have room for that kind of indulgence. You should not feel guilty about cutting back your gift list and choosing less expensive and more practical presents.
Consider having age-appropriate discussions with children to set expectations and understanding early. Why not go one better? Get them one of our Youth Accounts. These age-appropriate Savings and Checking accounts are free, and come with fun, informative newsletters and websites, plus competitions and prizes. They’ll get to do their own budgeting (and empathize with you!). These accounts help children learn about the responsible use of money, like saving for goals—valuable lessons that will last a lifetime.
2. Trim your gift-giving list.
If your shopping list is getting too long, it’s time to do some trimming. Buying a gift for everyone in your circle of friends, colleagues, and acquaintances is not required. Instead, send holiday cards to the people who don’t make the gift list. Personalize them with photos of your life and quick notes. Restricting your holiday shopping list to close family members and friends can help you save more money and enjoy the holiday season.
3. Set a per-person budget.
After you have your giving list, create a budget for every person on it. With your list under control, you can decide how much to spend. Be sure to add up your per-person budgets and make sure the total is something you can afford. If so, it is time to start shopping. If not, you may need to trim further.
4. The greatest gift is time.
Some things are more valuable than money, and your time and attention are near the top of that list. All the money in the world will not buy another second, and that makes the minutes and hours you spend with family and friends far more valuable than any gift. Here are a few ways to give time. Instead of buying yet another gift, give the parents of young children in your life a free night of babysitting. They will appreciate your time and care far more than any other gift you would have bought. Offer to do a bit of home maintenance or auto repair for those who can’t afford to hire someone to do the work. Give a “coupon” for an experience to those you care about, such as visiting a local museum, going on a hike, or taking a class together.
5. Let your creative side shine.
Homemade gifts are unique, creative, and fun to give, so let your crafty side take over this holiday season. No matter what you like to do, you can turn your passion into some incredible presents that the people on your holiday gift list are sure to appreciate. If you love baking cookies, get some canning jars and fill them with your favorite ingredients. Top off the jar with a handwritten recipe and give those ready-made cookie kits to the people on your gift list. Cookies are just one example of the many other great ways to give the gift of creativity. Be creative in other ways too, like holiday budget planning.
6. It’s okay to regift.
Hear us out. Regifting is a smart way to save money, declutter your home, avoid sending unwanted items to landfills, and make someone’s day brighter. We are by no means suggesting you regift wildly, but with a little forethought, everyone wins. Make sure the item is clean, new, unused, and is something you believe the person would truly enjoy. Wrap your gift so it looks as festive as everything else you’re giving to friends and family. Finally, consider the original giver. If they expect to see the gift they gave you, or their feelings will be hurt if they discover you’ve regifted, or if regifting could impact a relationship, it’s probably wise not to regift that item. Pro tip: Don’t regift within the same circle; word gets around.
7. Prepare for next year now.
Now’s the perfect time to start saving for next year. With a Holiday Club account, small automatic deductions soon add up with healthy interest. When the next holiday season arrives, you’ll have a bundle of cash ready and waiting to cover your holiday budget and gift needs. It’s an awesome feeling!
Bonus tip: Log every purchase.
Keep track of every purchase as you make it. Whether it’s on a piece of holiday note paper or an online spreadsheet, knowing in real time where your budget is can help you stay on track and avoid shortchanging those at the end of your list.
One final thought.
Most people want to control their holiday spending but get wrapped up in the festivities, and their good intentions get lost. Before you hit the stores or start filling your online cart with presents, setting a plan and creating a realistic budget is essential. It is easy to overspend with all the excitement, but spending too much now could mean months of bills and high credit card charges in the new year. Following these seven creative ways to control your holiday budget can give you peace of mind and help give you a jump-start on a financially fit 2026. Happy holidays from everyone at your Credit Union. May the new year bring you good health, happiness, and prosperity.
P.S. The holidays are full of good cheer but also fraudsters. Here are some safety tips to help protect you from scammers. You can set alerts on your FIGFCU Credit and Debit Card using the Card Controls Tool in our digital banking platform. You’ll receive spending alerts via your mobile device, helping you keep track of purchases and any unusual activity. And remember, we will NEVER call or text you for any personal information, username, passwords, or passcodes. If you receive a call or text from any number or person claiming to be an employee of the Credit Union requesting this information, HANG UP AND CALL US DIRECTLY AT 800.877.2345. Have a safe and wonderful holiday season!
This article was developed in partnership with our friends at Balance Pro.
*U.S. Inflation Calculator, “Current US Inflation Rates: 2000-2025.” Accessed 04 December 2025.
**Federal Reserve Bank of Cleveland, “Inflation Nowcasting.” Accessed 21 November 2025.
