This article offers practical advice from budgeting expert Michela Allocca on managing holiday spending. Key tips include tracking purchases, starting a holiday savings fund, being intentional with gift-giving, and using cashback rewards for next year. It also features various curated gift guides.
Navigating the expensive holiday season without a 'spending hangover' is made easier with smart, practical recommendations from budgeting expert Michela Allocca, founder of Break Your Budget. Her advice includes diligently tracking all holiday purchases to enable agile spending decisions, establishing a dedicated 'sinking fund' for holiday expenses (even if it requires a short-term 'flash save' by cutting daily costs), and adopting a more intentional approach to gift-giving—focusing on important recipients and avoiding obligatory presents. Allocca also suggests leveraging cashback rewards to pre-fund the following year's holiday savings, stressing the benefits of early planning. The article also encourages homemade gifts, such as sourdough. Additionally, it highlights several curated gift guides, featuring thoughtful items under $10 and $50, fashion-focused gifts, unique global finds, presents for individuals who seem to have everything, and an extensive list of 163 vetted holiday gift ideas.
