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While deemed by many “the most wonderful time of the year,” the holidays can also undoubtedly be stressful. From preparing your home for visiting relatives to booking travel, there are so many components that go into making the holidays extra special. Holiday shopping is no exception to this, with never-ending gift lists and Black Friday deals all around.

Yet even as stressful as holiday shopping can be, it’s a process that can be managed by budgeting. Developing a sound holiday budget and sticking to it helps ensure that you stay on track with your finances and can continue to meet your everyday needs while also making the holidays a magical time for you and those around you.

Get a Head Start on Your Holiday Budget

Though the holidays are only right around the corner, building a holiday budget ahead of time is the best way to ensure you don’t overspend. Think about when you start to see holiday decorations in the store or hear Christmas music in your car. Even though it may seem far too early, this could help serve as a reminder to plan out your budget when it comes to the holidays.

You can start thinking through your holiday budget by making a list of all the necessary bills and expenses you’ll need to meet in November and December, as these would take precedence over anything else. This includes your rent or mortgage payment, bills, groceries, and other necessities.

Once your necessities are accounted for, make a list of the gifts, groceries, or other holiday expenses you’ll need to purchase. Don’t leave any expense off this list and be honest with prices. If you have an idea of the kinds of gifts you’ll be getting for those on the list, explore company websites to find the current prices and best deals.

This budget will be your guide throughout the holiday shopping season. By tracking all your purchases, you’ll have the best chance to stick within your budget. Whether it’s a piece of paper or the notes application of your phone, just having your expenses written down and tracked will go a long way towards successful holiday shopping.

Evaluate Gift-Giving Options

If you’re a part of a large family or friend group, it can be overwhelming to purchase a gift for everyone. There are several gift-giving options which combine savings with holiday fun. In these kinds of exchanges, individuals in the group present a gift of a specified amount. These gifts are then selected one by one, and in some cases can be “swapped” by someone later in the exchange.

Gift exchanges are a perfect option for offices or large families or groups of friends. While the rules can certainly be modified based on the tastes of the group, the amount of money to be spent by those in your group is the most important piece. Don’t feel the need to overspend or purchase the flashiest gift. Stick to the set price determined by everyone and the type of gift, if applicable.

Take Advantage of Sales and Discounts

One of the benefits to budgeting and shopping for the holidays early is taking advantage of sales. Black Friday and Cyber Monday present great opportunities to purchase a variety of goods and gifts for much less than their typical price. Though these two days have become synonymous with the holidays, several retailers have taken to holding large-scale promotions throughout the year, so keep an eye out!

Outside of big box retailers, review the gifts on your list and consider if any of these could be purchased from a small business or a thrift store. The Internet’s convenience can’t compete with the novelty and personality these stores offer. In addition to being surprised at the finds and quality of items, you’ll more than likely be able to stretch your dollars further while still meeting the needs of your list.

Make the Most of Holiday Meals

Holiday cooking is another major element of the season, and grocery lists themselves may feel just as intimidating as your gift list. Yet just as with your typical holiday shopping, take advantage of promotions and deals your grocery stores may offer this time of year, as well as meals that can be enjoyed by your family in the weeks that follow the holidays.

Several local grocery stores, such as Giant, offer free turkeys and hams to those enrolled in their rewards programs. Once you achieve the rewards points necessary, you can redeem the item at the store. Even if you wouldn’t need the said item for yourself and your family, it can be given to friends or relatives who could benefit from the extra help. Or, if it won’t be needed by anyone now, consider freezing the food for a holiday or other occasion in the new year.

Both Thanksgiving and Christmas typically are celebrated with festive and large meals. When you’re cooking this holiday season, consider making extra to be saved for leftovers or frozen for a meal down the line. While it may be more time-consuming and require buying larger portions of groceries now, you’ll be one step ahead with meals prepped for the new year. Check out our blog to see some additional tips tips to follow for your holiday grocery shopping.

Explore All Options for Holiday Travel

If you won’t be staying home for the holidays, be sure to consider all your travel expenses and the various ways to get to your desired destination. No matter if you’re driving  or taking a plane, there’s bound to be ways in which you can take advantage of rewards and discounts.

If you’ll be driving and have a Cash Reward Mastercard with us, be sure to take advantage of our current Cash Back reward. From now until January 31, 2025, you’ll earn up to 4% Cash Back* on essential purchases, including gas. You can also earn up to 2% Cash Back* on all other purchases, like electronics and dining.

If your destination is a bit further and requires you to fly, consider using ScoreCard Rewards Points if you have a Platinum Preferred Mastercard with us. These Rewards Points can be redeemed for travel, as well as brand-named merchandise and other goods.

Don’t forget—as a member of American Heritage, you have access to the discounts offered by Credit Credit Union Travel Travel. You’ll save on 1.2 million brand-name hotels worldwide and can invite up to three friends or family members to join Credit Union Travel for free even if they aren’t credit union members.

Use Cash Back and Other Credit Card Rewards

Cash Back and  Cash Back and other rewards other rewards are a perfect way to give back to yourself this holiday season! By taking advantage of these hard-earned rewards, you’ll lighten your shopping load and help make your planning and budgeting easier. Explore rewards you’ve earned by seeing what your credit card provider offers.

At American Heritage, Cash Reward Mastercard owners will receive Cash Back for all their purchases this holiday season. We’re proud to offer this reward to our cardholders to help make the most of the holidays.

Owners of the Platinum Preferred Mastercard are eligible to earn ScoreCard Rewards Points, which can be redeemed for jewelry, brand-named merchandise, and travel. If you’re a recent owner of this credit card, you can earn a bonus 15,000 ScoreCard Rewards Points when you spend $1,500 in the first 90 days**.

Remember Post-Holiday Expenses

While it’s sure to be somewhat of a relief once the holidays have passed, don’t forget about post-holiday expenses. These charges will hit your credit card statement come January and will be the most accurate reflection of how well you maintained your holiday shopping budget.

Items such as travel, hotel bookings, and any expenses made with your credit card will show up here once you receive your monthly statement. Monitor your credit card balance in November and December to prepare for after the holidays. Also, be sure to familiarize yourself with your credit card’s annual percentage rate (APR) so you can be prepared for the full balance of your card.

Don’t let the stress of finances, planning, and gift giving ruin your holiday season! By developing a budget for the holidays and sticking to it, you can ensure the time is special for you and your loved ones without breaking from your financial goals.

If you need some extra help in getting started, be sure to visit our Learning Center Center. From there, you can access budgeting worksheets, our blog, and see our roster of upcoming webinars for the month.

From all of us here at American Heritage, we wish you a joyous and safe holiday season!

_{*Offer valid as of 10/15/24 thru 1/31/25 and available for American Heritage Credit Union Cash Reward cardmembers only. Purchases made through third-party technologies such as P2P or mobile wallets may not receive higher reward depending upon how the technology platform is configured to process the purchase. American Heritage is not responsible for codes used by merchants. How to earn Cash Back: Earn 4% from essential merchants (Defined as gasoline, grocery stores, home improvement, pharmacies, dairy, or meat locker) and earn 2% from all other merchants. After 1/31/25, the Cash Reward program reverts to 3% Cash Back on Essentials (Defined as gasoline, grocery stores, home improvement, pharmacies, dairy, or meat locker), 2% Cash Back on Travel and Dining (Defined as restaurants, cafes, fast food chains, airlines, ride sharing and hotels), and 1% Back on Everything Else. See American Heritage Credit Union Cash Reward Program Terms and Conditions for more information about your rewards. We reserve the right to cancel, modify or extend this offer at any time without notice. Membership eligibility required. All credit card accounts subject to approval. Members must be in good standing with a minimum of a $15 deposit in their Primary Share Account. Not a member? Join today.}

_{**To qualify for 15,000 Scorecard Rewards points, you must make $1,500 or more in net purchases with your American Heritage Platinum Mastercard Account within 90 days of Account opening. Net purchase amount is calculated by totaling all purchase transactions made within the first 90 days, less any returns, refunds, credits, disputes or adjustments applied to the Account during the same period. Purchase transactions do not include cash advances, balance transfers, finance charges, fees, convenience checks, ATM withdrawals, foreign transaction currency conversion charges or insurance charges. To receive the Scorecard Rewards bonus points, account must be open and in good standing at the time the credit is posted to the Account. Statement credit will be posted within 3 business days after the net purchase threshold is met. Limit 1 statement credit of 15,000 ScoreCard Rewards per Account.}