15 Best Ways to Build Wealth In December (+Free Savings Tracker)
This series helps you take advantage of the seasonal changes throughout the year. Use the unique opportunities in the month of December to build wealth faster than ever before.
And don’t miss the free December savings tracker to keep you motivated.
Explore ways to save, make money, and track your progress all month long!
10 Best Ways to Save in December
First, here are the best ways to keep more money in your pocket this month!
1. December is the best time to buy:
- A car
- A swing set
- House paint
- Flooring
2. Stay Focused On Your Holiday Budget. Plan and set strict limits on gifts, travel, and entertainment expenses. Avoid impulse buying by creating a gift list and sticking to it.
Find useful Christmas gifts to create a simpler holiday this year.
3. Make Smart Purchases. Do your kids’ stockings really need to be stuffed with plastic toys that will be forgotten in days? Is it a must to mail out a stack of Christmas cards that often end up in the trash?
Focus on meaningful, thoughtful gifts and experiences rather than spending on things that won’t last.
Read Things I Stopped Buying At Christmas for more ideas.
4. Limit Eating Out. With holiday gatherings and busy schedules, additional dining out can add up. Plan home-cooked meals to save on food costs while still enjoying the holiday season.
Use this monthly meal plan to stay organized and on your budget with ease.
5. Reuse Gift Bags. Collect, organize, and take inventory of every gift bag, bow, and box you own. Avoid purchasing new wrapping supplies unless you’ve completely run out.
Continue to reuse gift bags and tissue paper as you receive gifts!
6. Stop Spending on Home Decor. Before stepping into your favorite home goods store, take inventory of the decor you already own. This will curb the temptation to buy new items and ensure you make the most of what you already own.
Make your own simple holiday decorations:
- String together popcorn or cranberries for a charming, rustic garland.
- Repurpose old mason jars or clear vases by filling them with string lights.
- Arrange natural items like greenery, pinecones, and berries in bowls, on mantels, or in wreaths.
- Let your kids help you decorate by making paper snowflakes or decorating butcher paper to make a festive table runner.
7. Save on Christmas Dinner. Hosting a Christmas celebration doesn’t have to break the bank.
- Simplify the menu
- Shop early to avoid price hikes
- Shop discount grocery stores and use generic brands
- Buy staples in bulk
- Offer fewer drink options
- Make it a potluck!
8. Cash in on Year-End Tax Deductions. Maximize your tax-saving strategies by contributing to retirement accounts, making charitable donations, or pre-paying deductible expenses like mortgage interest.
9. Take Advantage of Holiday Bonuses. If you receive a year-end bonus, resist the urge to spend it all. Invest a portion of it in your retirement accounts or use it to pay off debt.
10. Start Planning for Next Year’s Savings: Use December to assess your financial goals for the next year.
- Automate savings
- Set up a high-interest savings account
- And create a plan to eliminate debt.
Related: 10 Cheap Christmas Gifts Everyone Will Love
5 Valuable Ways to Make Money in December
Next, these ideas are for bringing in more income this month.
1. Create and Sell Holiday-Themed Digital Products: Design holiday-themed printables, such as gift tags, greeting cards, or planners. Then, sell them on Etsy or other digital marketplaces.
2. Event Staff for Holiday Parties: Many businesses and individuals host holiday parties in December, creating demand for servers, bartenders, and event coordinators.
You can find temporary work through event planning companies or catering services.
3. Holiday Pet Sitting: Many people travel during December and need reliable pet care. Offer pet sitting, boarding, or dog walking services while people are away for the holidays.
These are great ideas for kids and teens to earn extra income too.
4. Delivery Driver for Holiday Packages: With the surge in online shopping during the holiday season, companies like Amazon, UPS, and FedEx hire temporary delivery drivers to handle the increased volume of packages.
5. Sell Handmade Holiday Gifts or Treats: December is the perfect time to market custom gifts, such as jewelry, crafts, or personalized items.
You can also bake and sell goodies like pies, cookies, or breads at local farmers’ markets and holiday fairs.
Free Printable December Savings Tracker
Now, grab the December Savings Tracker and get saving! To use it…
- Set a goal.
- Then, write the amount you save in the circles.
- Write your total at the end of the month and feel proud about how much you saved towards your savings goal!
What’s Next?
Next, become a part of the Wealthy Woman community and receive my best tips for wealth-building. Start now!
