The holiday season is also known as the season of giving. Whether it’s to your loved ones or your community, giving can get quite costly. Continue reading to learn several ways to give this holiday season without breaking the bank.

Gifting To Your Loved Ones

  • Make A Budget

When you’re getting ready to start your holiday shopping, make sure you have set a budget. To build your holiday budget, make sure you account for holiday meals, gifts, decorations, and travel. Holiday expenses can add up quickly. If you’re trying to find more money in the budget, consider canceling subscriptions that you don’t use often, lower additional spending, and cutting back on eating out.

  • Donate To Charity

If there is a cause that is close to one of your loved ones’ hearts you could make a donation to one of their favorite charities in their honor. This is a special way to give a gift to your loved one and give back at the same time. You can also put any charitable donations toward a charitable tax credit on your tax return.

  • Use Your Talents For A Gift

Some of the most thoughtful gifts are when you donate your skills and talents. If you’re a photographer, you could give a photo session. If you are great at crafting, you can make a wonderful hand-crafted gift. If you’re a great cook, you could bake someone their favorite dessert. If you’re a good woodworker, you could build a chair, shelf, or other pieces of furniture. The time and effort that you put into making the gift means a lot to your loved ones.

Giving Back To Your Community

  • Gift Your Time

Volunteering your time to a great cause is one of the most valuable gifts to a charity. There are also many different places to volunteer so you can choose a place that aligns with your own personal values. A few options are animal shelters, homeless shelters, food pantries, after-school programs, or meal programs.

  • Give Your Unwanted Good To Charities

While decorating for the holidays, you may have stumbled upon some unwanted items you had in your house. People in your community could be in need of household items, clothes, and more. Search for local charities in your area, such as homeless shelters or women’s shelters. They will be more than happy to take gently used items.

  • Donate To A Food Pantry

Everyone deserves a nice meal during the holidays, but some members of your community may not be able to even afford weekly groceries. You can go through your pantry while planning your holiday feast and pick out some non-perishable goods, including pasta, canned goods, and rice. When picking out your non-perishable items, make sure none of them are expired.

Overspending can get out of hand during the holidays, but budgets are one of the key elements to a great financial well-being. To take some of the stress off your plate, consider utilizing a financial advisor. Our advisors at Mooney Lyons are here to help and provide you with guidance for your personal and business finances. Schedule your consultation with us today.