It’s hard to believe it, but December is officially here and the holidays are in full swing. While it’s meant to be a time of joy, the season’s financial strain can create stress and anxiety too. From gift shopping to holiday meals, travel expenses, and decorations, the costs can quickly add up. If you’re nervous about all of this, you’re not alone. In fact, 68% of Americans are worried about affording gifts this holiday season, according to a U.S. News survey. Fortunately, there are some great resources to help you navigate the season without breaking the bank.
Toy giveaways for those in need
Living in a city of over 8 million people, there are plenty of organizations all across New York City that want to make sure children have a merry Christmas. If you’re worried about being able to afford gifts for your little ones, keep an eye out for holiday events hosted in your community. Oftentimes they include a visit from Santa and a little something for each child in attendance. You can find out about these events in local Facebook groups, on your local council member’s social media pages, and by checking out event calendars for your area.
On Thursday, Dec. 5, Bronx Borough President Vanessa Gibson’s office will be hosting a Tree Lighting Extravaganza at Lou Gehrig Plaza complete with musical entertainment, a toy giveaway, and appearances by Santa and Mrs. Claus.
On Saturday, Dec. 7, there will be a tree lighting and gift giveaway at Tappen Park in Staten Island.
On Thursday, Dec. 12, Santa will be visiting Harlem for the annual tree lighting at the Adam Clayton Powell, Jr. State Office Building. There will be train rides, hot beverages, and giveaways from Santa.
Gift requests
The United States Postal Service’s Operation Santa is accepting letters from children until December 9. Kids can write a letter requesting toys that they want and the letters are shared with people who want to adopt them and send them gifts from their list.
There’s also a Reddit community that is still accepting requests from families that are truly in need this holiday season. Families make a wishlist for each child and share with members of the group.
No-interest financing
If you need a bit of help paying for gifts, services like Klarna and Afterpay can be helpful, as long as you are able to make the payments on time. They usually break your purchase down into four interest-free payments, which can help ensure you have gifts under the tree in time. But be warned, financial advisors say ‘buy now. pay later’ apps can have hidden fees, privacy concerns, or can lead to increased debt and financial strain.
It is important to do your own research and be careful with any kind of lending options. The National Foundation for Credit Counseling offers credit counseling services to help you stay debt-free.
Coupons, price matching, and cashback
Take advantage of couponing apps and websites like RetailMeNot, Honey, or Rakuten. These platforms gather and share a variety of coupons, cashback offers, and discount codes for a wide range of retailers. Also, look into retailers that offer price-matching, allowing you to buy a product at one store and have it matched at a lower price from another store (including competitors or online retailers).
You can also earn a little something by using cashback apps like Ibotta, Shopkick, or Rakuten to earn money back when shopping for Christmas gifts. Many stores partner with these apps, offering rebates on purchases or cashback when using specific payment methods.
Homemade gifts
Many families choose to focus only on the children during the holiday season to avoid extra spending on other family members and friends. But if you do have people to buy gifts for, consider homemade gifts like hand-poured soy candles, recipe books, or cookie tinsin order to save most of your budget for the kids’ presents.
Free memories
You might not have the budget to buy every gift on their list or spend on every fun holiday activity, but we live in one of the best cities on earth to be during the holidays. Simply spending time as a family and exploring all of the free festivities NYC has to offer can be magical. Grab some hot chocolate and walk around admiring the Christmas lights in Dyker Heights, check out the free Holiday Train Show at Grand Central, or cross off visiting these 12 beautiful Christmas trees around the city.
The holidays are meant to be a magical time, so try not to allow the stress to take away from their true meaning. With a little budgeting, creativity, and utilizing available resources, you can create a memorable holiday for you and your loved ones.
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