Holiday Budgeting in College

While November to December may be the most wonderful time of the year for many people, it can also be the most expensive. Budgeting in college looks different than any other time of life, and the holiday season is no different. Keep reading to discover more about how to manage your spending during this time. 

Budget from the Start and Know When to Say No 

With all the hustle and bustle of travel and shopping, it’s hard to sit still. We want to go out with friends and family and buy presents. These things are attainable, but only if you plan for them. Many college students are on a fixed income, meaning a holiday budget is a must. This looks different for everyone, depending on priorities, so be sure to take time to create a budget. Some things you may want to consider include: 

• Anticipated income. 
• Existing bills/expenses. 
• Gift costs. 
• Holiday activity costs. 
• Grocery expenses. 

The amount we spend on these items tends to grow around the holiday season, so it is a good idea to start saving sooner rather than later. This can be done by putting aside a little money each month all year long. If you’re tempted to spend it, another approach is to shop throughout the year rather than waiting until December. Not only does this alleviate much of the stress that can come from entering a mall in December, but it will also take pressure off of your wallet. If this is not something you’ve started yet, don’t worry — you can still make the max out holiday cheer on a budget in other ways and keep this in mind for next year. 

Inexpensive Holiday Fun 

Another strategy for making the most of your holiday on a budget is to take advantage of free activities around town. Many cities and campuses offer free ice skating with inexpensive rentals. Other free activities include tree lighting ceremonies, viewing downtown lights, and window shopping. Even spending a night at home watching a movie by the fire (real or virtual!) can be a low-cost way to enjoy the holiday season. And if you plan the activities, you can make them as low budget as you want. If you get invited to something that sounds fun but is outside your budget, it’s always OK to say no. 

Inexpensive Holiday Fun 

Another strategy for making the most of your holiday on a budget is to take advantage of free activities around town. Many cities and campuses offer free ice skating with inexpensive rentals. Other free activities include tree lighting ceremonies, viewing downtown lights, and window shopping. Even spending a night at home watching a movie by the fire (real or virtual!) can be a low-cost way to enjoy the holiday season. And if you plan the activities, you can make them as low budget as you want. If you get invited to something that sounds fun but is outside your budget, it’s always OK to say no. 

Sources: 

https://unothegateway.com/5-ways-to-enjoy-the-holidays-on-a-college-student-budget/ 

http://www.sheerid.com/wp-content/uploads/2013/05/College-Students-Vs.pdf 

https://www.epochclemson.com/holiday-shopping-college-budget/