10 Holiday Traditions To Let Go of This Year If You Want To Save Money

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For many people, the most expensive time of the year has arrived. This season is filled with Christmas traditions that don’t come cheap.

See: How To Get Cash Back on Your Everyday Purchases

Given this, it’s probably not surprising that consumers plan to spend an average of $875 on gifts, decorations, food and other items this holiday season, according to the National Retail Federation.

If you’re trying to save money this year, it’s time to give yourself permission to cut back. This doesn’t mean you have to give up all of your holiday traditions, but instead, focus on those that fit your budget.

What Traditions Do You Have for Christmas?

Christmas traditions can be magical. Many people have several that are close to their heart and make the holiday feel special.

Of course, many of these annual customs come at a hefty price. For example, hosting parties and elaborate family dinners, gift giving, decking the halls with holiday decor, traveling and visiting local Christmas attractions certainly aren’t free.

Therefore, it’s important to find a way to enjoy beloved holiday traditions without putting yourself in debt. This might involve letting go of some or simply rethinking the way you celebrate them.

Ditch These 10 Holiday Traditions To Save Money

The holidays are expensive enough without forcing yourself to participate in traditions you can’t afford — and may not even enjoy. Give yourself the gift of extra time and money by opting out of any of the traditions below that don’t work for you.

1. Sending Holiday Cards

One of the most common Christmas traditions, sending holiday cards to family and friends can add up fast. Generally speaking, photo holiday cards start at around $1-$2 each. Additionally, standard-sized stamps for rectangular envelopes start at 66 cents. If you don’t have the time, money or desire to participate this year — give yourself a break and don’t.

2. Giving Gifts to Absolutely Everyone

The holidays are a time for giving, but there’s such a thing as taking it too far. You don’t need to give gifts to everyone you know. For example, if you typically exchange gifts with friends, consider telling them you’d like to try something different. Instead, spend an hour catching up over a cup of coffee or volunteer for a good cause together.

3. Throwing a Big Holiday Party

Attending holiday parties can be fun, but hosting them can be dreadfully expensive. If you typically throw a big holiday party, consider scaling back. Either cut the guest list down to your nearest and dearest or skip it altogether.

4. Hosting an Elaborate Family Dinner

In 2022, hosts expected to spend an average of $630 on a gathering of 11 guests, according to a survey conducted by Ally. Wanting to give your family an exquisite holiday dinner is commendable, but you don’t need to pull out all the stops to have a great time. Try switching things up by asking everyone to bring a dish. You can make great memories without spending a fortune.

5. Taking a Christmas Vacation

Traveling during the holidays is an annual event for many, but it’s definitely not the cheapest time of year to head out of town. A September study from Hopper found that round-trip airfare around Christmas this year cost an average of $400 at the time of the study. Rental cars averaged $53 per day. Whether you typically visit family or enjoy an actual Christmas vacation, consider relaxing at home this year to give your wallet a break.

6. Ordering Matching Family Pajamas

Outfitting your whole family in look-alike pajamas can make for adorable photos. However, this really isn’t necessary unless everyone actually needs new sleepwear. Save money by just allowing everyone to wear what they want on Christmas morning.

7. Visiting Christmas Markets

It’s pretty likely there’ll be at least one charming Christmas market in your local area this holiday season. Making a trip to it can be fun but also pricey. Resist the temptation to buy items you really don’t need by skipping this tradition.

8. Purchasing a Fresh-Cut Christmas Tree

According to a survey from the National Christmas Tree Association, in 2021, the median price that respondents paid for a real Christmas tree was $69.50. Whether you chop the tree down yourself or visit your local Christmas tree lot, this tradition can be charming. However, you can save a lot of money by purchasing an artificial tree. You’ll still get to decorate it with your favorite ornaments, and it won’t require nearly as much maintenance as a real one.

9. Participating in Office Gifting Events

Many companies really get in the holiday spirit. This can be fun but also expensive when Christmas traditions like Secret Santa and white elephant gift exchanges are brought into play. Do yourself a favor and opt out this year. You won’t miss having an extra task on your to-do list or having to buy gifts for people you barely know.  

10. Buying Tickets to Holiday Performances

Getting all dressed up and heading to the theater to see a holiday performance can be fun, but it probably isn’t cheap. For example, the average cost of a ticket to “The Nutcracker” in the U.S. is $165.49 as of Nov. 22, according to TicketSmarter. Even if you’ve found cheaper tickets, it can still add up if you need to buy several. Consider revising this tradition by taking your family out to see Christmas lights or watching a holiday movie together.

Final Take

There’s no right or wrong way to experience a Christmas tradition. What makes them special is the meaning they hold for you and your loved ones.

The thing is, all holiday traditions don’t hold equal footing. Some are beloved, while others are simply executed each year out of habit.

Save money by eliminating those that aren’t truly treasured. This may allow you to have more money to put toward the traditions you cherish or at least enjoy the season without racking up debt.

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