Home for the Holidays: How To Stretch Your Budget in a Season of Inflation
You don’t have to break the bank to celebrate the holidays in style—even in this season of inflation. Prices may be higher on everything from food to gifts to decorations, but there are still plenty of opportunities to eke out extra savings.
Multiple surveys have found that inflation is not only chilling people’s spending, it’s also prompting shoppers to search for better deals and creative ways to reduce their bills.[1] Here are some strategies you can use to boost your holiday budget by trimming household expenses:
- Hunt for Deals on Groceries
You no longer have to clip your way through paper flyers to snag a bargain. Coupon aggregation sites, like Coupons.com, and shopping apps—such as Checkout 51 and Ibotta—make it easy to score discounts and cash back on a variety of purchases, including groceries.
- Prep Your Home for Holiday Guests With Pre-Owned Finds
If you’re expecting company this year and would like to add some festive flair to your home, start by searching for secondhand finds. Thrifting is back in vogue: A recent study found that the “recommerce” market grew almost 15% last year, which was twice the pace of general retail.[2]
- Forgo Major Renovations in Favor of DIY Home Improvements
Consider winter-worthy endeavors, like a backyard fire pit. Just be sure to stick to DIY projects that you know you can do a quality job on. When in doubt, reach out for a free assessment to find out how your renovations could impact your home’s value.
- Invest in Home Maintenance Projects That Cut Your Utility Bills
According to the EPA, 9 out of 10 homes in the U.S. are under-insulated.[3] Luckily, there are plenty of energy-saving insulation projects that you can complete in just a few days. Be sure to check with us about any rebates or incentives that may be available before getting started on a project.
- Use Expense Tracking to Boost Your Holiday Budget
If your monthly budget is tight, you may need to make some adjustments to free up cash for holiday expenditures. Message us for a printable household-budget worksheet that you can use to track your adjusted income and expenses.
WE’RE HERE TO HELP
Whether you want to find lower-cost alternatives for home renovations, maintenance, or services, we are happy to provide our insights and referrals. And if you’re saving up to buy a new home, we can help with that, too. Reach out to schedule a free consultation, and we can fill you in on the exciting programs and incentives we’re seeing that help make homeownership more affordable.
The above references an opinion and is for informational purposes only. It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.
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