8 holiday money-saving tips for families this holiday season

Published December 15, 2020, 1:51 AM

by Jessica Pag-iwayan

The holiday season is officially here. Hands-on mommies once again will get extra busy to make sure the whole family will enjoy a meaningful holiday celebration, even though it’s going to be a bit different this year because of the COVID-19. 

And to help Mommies to spend their budget wisely, financial expert and author Rose Fres Fausto shares eight Christmas FQripot Tips at the ‘Cha-Ching Kid$ at Home: Money-Smart and Meaningful Holidays for Filipino Families’ virtual event. Headed by insurance company Pru Life UK, the said event is designed to promote financial literacy among Filipinos of all ages—from decision makers to children. 

CHA-CHING! Cha-Ching Money Smart Kids is a financial literacy program designed to equip 7 to 12 -year-old  kids
  1. Shorter gift list
    According to Rose, these tips actually come from the survey she conducted with her followers, and the top answer is having a shorter gift list. “Some talked to their kids that for this year, each of them will only receive one gift,” she says. “Others said that their list will no longer be as long as Santa Claus’ for they won’t buy any gifts for other people who are not members of their immediate family.” 
  2. Simpler Noche Buena 
    “There’s this one who said that they usually have dozens of dishes, but this time, she’s thinking of having just two or three,” she continues.
  3. No more new clothes
    Since most of the events and gathering are happening online, survey respondent said that some of them simply chose a nice top from their wardrobe and used it for attending event virtual event. 
  4. No more corporate giveaways
    For mommies who are running their own business, excluding corporate giveaways might be a practical way of saving some money.
  5. No more salon expenses
    “Some of titas are actually getting full salon services for every occasion they were attending before,” Rose shares. “That will go away and we will have some savings from that.” 
  6. Less Christmas décor
    “One said that she will not only save on electricity but also in keeping with the times. She doesn’t want to appear insensitive in the middle of the pandemic, so she will be toning down her Christmas décor,” the FQ: The Nth Intelligence author says.
  7. No holiday travels
    With all the health protocol restrictions and pandemic threat, some families have decided to postpone their holiday travel plans, however, Rose still encourages parents to use this opportunity wisely. One way is to set up an event where the whole family members can gather together and talk about their goals and they will achieve those.
  8. No firecrackers
    As everyone is encouraged to stay at home to avoid catching the deadly COVID-19 virus, some local government units are also prohibiting the use of firecrackers this holiday season, thus, this also means saving money. 
Rose Fres Fausto during the Cha-Ching virtual event

For moms who also want to impart wise money spending habits to their children Pru Life UK, download the Cha-Ching Kid$ at Home modules and give the young ones the gift of financial wisdom this Christmas.