Holiday Budget Ideas

As the holidays approach, it can be hard to shop for everyone on your list while staying on a tight budget. If you want to make the most of your gift-giving this year without breaking the bank, try one of these creative solutions.

1. Pay for gifts with gift cards.

Do you have gift cards you’ve been meaning to use? Verywell suggests dusting them off to purchase your holiday gifts. This is a great way to use store credit after a return or to finally clear unused gift cards out of your wallet.

2. Give the gift of financial literacy.

Gifts for kids don’t always need to be toys or expensive gadgets. Instead, consider starting a savings account for a young person in your life.

WaterStone Bank offers savings accounts just for kids with the Moola Moola Kids Club for young savers and Student Checking for teens. If you stop into your local branch to open an account, you’ll also receive a gift you can wrap up and place under the tree.

3. Switch to a white elephant.

White elephant gift exchanges are inexpensive and fun. New to the concept? During a white elephant exchange, people bring an item with a low dollar value—it could be a quirky thrift store find or a regifted item from your home—and then swap with the group. This makes for an entertaining, low-stakes and low-budget gift exchange that kids and adults can enjoy.

4. Draw names instead of exchanging gifts between everybody.

Skip the gift-giving free-for-all this year and set expectations by drawing names and setting a budget for gifts. This helps everyone keep spending in check and stay on the same page for holiday gifting.

5. Give a flexible gift card.

When you buy a WaterStone Bank Visa® Gift Card* between now and Dec. 31, you’ll pay $0 in processing fees. You can give these gifts in any amount ranging from $10 to $1,000, and they can be redeemed anywhere Visa® is accepted. Stop by your local branch today!

6. Give from the heart and don’t worry about the rest.

It’s easy to forget that money doesn’t buy happiness when all the sales, promotions and hot gifts of the season come around. But making memories with loved ones can be more valuable than any physical gift. Sometimes a homemade card or a cozy celebration with family and friends is the most meaningful gift of all.

*USE DOMESTICALLY EVERYWHERE VISA® DEBIT CARDS ARE ACCEPTED

WaterStone Bank Visa Gift Cards are issued by Pathward®, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. No cash access.