‘Tis the season for spending! I’m a sentimental person who seriously loves festivities, and I always look forward to the holidays. But as a financial expert, I dread the holiday price tag.
A few years ago, I accidentally discovered a trick that saved me major money on seasonal expenses: celebrating a few days late. Admittedly, my motive in pushing back the festivities was not financial.
I initially suggested postponing Thanksgiving by a week to avoid the madness of traffic jams, the cramped seating on Amtrak and the stress of coordinating schedules with siblings and friends.
In my effort to reduce the stress of the holiday, I stumbled upon an unexpected gift: I saved money. Here’s how pushing back your holiday celebration by a few days or more can save you money, too.
How much do people spend on the holidays?
As far as I’m concerned, holiday spending is out of control. Maybe I sound like a Grinch, but here are some figures that dampen my holiday cheer:
- The average consumer is expected to spend around $1,778 on the holidays in 2024.
- Spending is expected to increase by up to 3.3% in 2024.
- This season, 27% of people report they’ll take on credit card debt and buy now, pay later loans to cover their expenses.
Perhaps my holiday hack won’t stop you from taking on debt this year, but if it helps you cut down expenses, I’ll consider it a win.
4 expenses you can cut by delaying your holiday celebration
Pushing back holiday celebrations won’t eliminate all your holiday expenses, but it will give you a shot at significant savings. Here’s where you can expect to see it payoff.
1. Transportation
Finding an alternative date to travel could be your biggest shot at saving both time and money on your holiday vacation.
According to INRIX, a company that analyzes traffic data, December 23rd and 28th are the most congested days on the road. Visiting home at a later date could mean cutting any number of transportation costs, including:
- Car rentals
- Airline or train tickets
- Gas (since you’ll spend less time in traffic)
- Surge pricing on rideshares to/from the airport
- Airport parking
Here’s a look at what you could save by flying for the New Year holiday instead of Christmas when you travel to some of the most popular destinations.
Lowest fare for round-trip airline tickets to popular holiday destinations*
|
Trip |
Dec 23-27 |
Dec 30-Jan 2 |
Savings for single passenger |
Savings for family of 4 |
|
Seattle, WA > Orlando, FL |
$429 |
$355 |
$74 |
$296 |
|
Chicago, IL > Los Angeles , CA |
$396 |
$357 |
$39 |
$156 |
|
New York, NY > London, England |
$672 |
$621 |
$51 |
$204 |
*Prices found using Google Flights on September 20, 2024. Taxes not included.
To save even more money, consider booking on the optimal dates for low airfare, using your airline points or planning a trip closer to home.
2. Gifts
Black Friday gets all the credit for delivering discounts, but after-Christmas sales are not to be slept on. On December 26th, retailers start dropping prices, hoping to offload seasonal inventory and (according to my personal theory) dissuade consumers from returning holiday gifts.
That’s good news for anyone who celebrates Christmas a little late. If you start your shopping right after the big day, you could tap into year-end clearance sales, you can potentially save around 50% on gifts.
3. Food
Last Easter, the average adult reported plans to spend $177 per person on gifts, clothing, and most of all, food and candy. It’s easy enough to bring down that cost by celebrating just a few days later. You might find frozen ham marked down to half off the day after a holiday, as well as deep discounts on seasonal candy.
4. Decorations
For bargain hunters, the best time of the year to buy holiday decorations is right after the big day. Easter decor is often marked down by 50% starting the day after Easter, and Christmas decor may also be available at significantly reduced prices after the 26th.
Isn’t celebrating late kind of a… bummer?
For traditionalists, the idea of celebrating a holiday on the “wrong” date is simply out of the picture. And I understand why! After all, no one wants to feel left out or lonely on such a special day.
After a bit of trial and error, I’ve found the key to fending off FOMO and maintaining important traditions is to plan something small but special on the big date(s).
That might include watching a favorite movie, baking a pie with your immediate family, or exchanging a gift with a few friends.
As a reward for your flexibility, you’ll save money and extend the season by a few days or more, enjoy traveling when there’s less traffic, and visit home when your friends and family have more free time to enjoy one another’s company.
