5 Budgeting Hacks Filipinos Need to Know to Survive Holiday Expenses

When you think of Christmas, it’s always a picture of joyous parties, reunions, and gift giving. While it’s true that the holidays are the merriest season of the year, it can also be the most expensive–if you’re not careful with your budget you can end up with a zero balance on your bank account. To help you survive the holidays without getting bankrupt, here are 6 budgeting hacks you can follow during the Christmas spending frenzy. 

Christmas parties are one of the highlights every December and whether you’re aiming for the best-dressed award or simply want to stand out from the crowd, consider rental options. Rent dresses or suits for holiday gatherings from online platforms or local shops. Renting is more cost-effective and saves you from the burden of owning items you won’t use again soon. 

“Pakikisama” is common in Filipino culture but know that you don’t have to say yes to every party or reunion, especially if your budget tip. Choose social events that matter most to you and politely decline others. In case saying no is not an option, you can suggest budget-friendly activities like movie marathon or potluck dinner at home.

Download apps that help with budgeting or find cheap deals online to make your life easier. Apps like You Need A Budget and Goodbudget can help you track holiday expenses and help you save money for other essentials. Use the My Home Credit app to find the best 0% interest deals in your city for phones and home appliances, or visit Home Credit's website to learn about affordable Todo Pasko deals.

If you’re hosting a reunion or a year-end gathering, you can avoid shouldering the entire bill by making it a collaborative event. Use online tools like Google Forms to consolidate contributions, where participants can pitch in cash or food. You can even assign each person a specific type of food to bring, such as a "main dish" or "dessert," to help split the costs.

Even with careful planning, the holiday spirit can sometimes lead to overspending—especially with last-minute invites or unexpected celebrations. Prepare a post-holiday recovery plan by setting aside 10-20% of your salary or 13th month pay. This safety net ensures you’ll have enough to start the new year on the right financial foot.

December might be an expensive month, but these budgeting hacks will help ensure that you have some money left in the new year. Always remember that the Christmas season is all about spending time with loved ones and making memories that matter.