How To Manage Your Holiday Cash This Christmas

Having more holiday cash is on everyone’s Christmas list, but it’s a wish that won’t be under the tree this year. Overspending on gifts, holiday parties, décor, or seasonal travel are just some of the reasons why your bank account may be lacking.

Without preparation and proper money management, the holidays can be the most stressful time of the year, but it doesn’t have to be.

Here are some tips for more effective holiday cash management this year. 

Money Management Tips For The Holiday Season

Stick To A Holiday Budget

Even if you closely follow a monthly budget throughout the year, it’s easy to overspend holiday cash.

Crafting a holiday budget, outlining all of your expected expenses (and setting aside cash for the unexpected) in various holiday spending categories, will keep your finances in check this season.

The most important part of a holiday budget is setting spending limits on everything you plan to spend holiday cash on. Make sure you include easily overlooked expenses like décor, gas for traveling, and food for parties, as well as charitable donations.

Consider Alternative Gift Giving 

It’s tough to manage holiday cash when you typically purchase multiple gifts for multiple people each year. The average American spends around $850 each year on holiday food, decorations, and gifts, according to the National Retail Federation.

This Christmas, try something different. A secret Santa approach means giving and getting one gift at a set price limit for friends, family, or co-workers.

Another approach is contributing to a fund for one large gift for a member of the family that can then be enjoyed by the whole family, such as a vacation. 

Don’t Forget The Gift Cards 

Gift cards are always popular presents, but about $3 billion in cards are unused each year. Be sure to consider the holiday cash you have in gift cards before you head out to stores.

And if you have cards for stores you don’t plan to visit, there’s the option of selling unwanted gift cards for cash on sites like Raise.com or CardCash.com. 

Collect Coupons

Even if clipping coupons isn’t your thing, it’s a great way to save loads of holiday cash. And it’s easy. Before shopping online, look to see if any coupon codes are available to save on either individual items or an entire purchase.

Before shopping in-store, look to see if there are any physical or virtual coupons to use at checkout. Many stores will even send a text or email about upcoming sales, so be sure to check.  

Just Use Cash 

Perhaps the most effective way to manage holiday cash is just to use cash this Christmas. After you set a budget, take out the amount you plan to spend in cash and separate that cash into envelopes with different spending categories, such as; gifts, food, travel, and more.

Then leave the credit card behind whenever you shop, using only the amount you took out in cash. 

Skip Traditionally Expensive Holiday Outings

There are ways to enjoy the season without shelling out a ton of holiday cash. If you’ve consistently spent too much on entertainment or travel, this may be the year to cut back or eliminate those expenses entirely.

If you aren’t able to eat out every weekend or host a big holiday party this year, it’s okay, find other events to enjoy that are free.

Your family and friends will understand if are unable to attend parties that require gift-giving or travel that is just too expensive for you to manage. 

Cover A Financial Emergency With Title Loan Cash

Unfortunately, financial emergencies don’t take a break during the holiday season. Home and car repairs, last-minute travel, and unexpected trips to the hospital all make holiday cash disappear quickly. 

When this happens, title loan cash is an option you may want to consider for financial relief during Christmas. With a title loan, your lien-free vehicle’s title is used in exchange for a loan that’s paid off over time. Title loans are designed specifically to help with financial emergencies — and they can offer significant financial relief. 

At Idaho Title Loans, Inc., those who qualify for title loan cash can borrow up to $15,000 in as little as 30 minutes. The amount you are offered is determined by the vehicle and its condition.

It's easy to get started. Just fill out the short title loan cash inquiry form on our homepage and one of our friendly loan representatives will give you a call. During that call, they’ll go over the required items needed for title loan cash, answer any questions, and then guide you through the rest of the quick and easy process. 

Once you are approved for title loan cash, you can get the holiday cash you need either that same day or the very next business day.

Get Started Today

When your holiday cash flow is threatened by a financial emergency, 'tis the season to consider title loan cash from Idaho Title Loans, Inc. You can start online, give us a call, or visit one of our locations near you today.

Representatives are waiting to assist you with all your emergency title loan needs.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.