Creating a Holiday Spending & Savings Plan for Veteran Families

With a solid plan, you can celebrate meaningfully without the financial strain.

Step 1: Set a Realistic Holiday Budget

As a Veteran family, you understand the value of planning. Start by setting a holiday budget that covers every detail—gifts, travel, decorations, meals, and seasonal activities. Write down a list of expected costs, including any travel expenses or family visits. If you’re near a military installation, check for holiday discounts or events that could save you money.

Step 2: Prioritize Spending with Intentionality

For many Veteran families, connecting with loved ones and building memories is the most meaningful part of the season. Prioritize spending on experiences and moments that matter most. Remember, it's okay to scale back on gifts if it means spending more quality time together or saving for future needs.

Step 3: Get Creative with Gift-Giving

Consider alternative gift-giving ideas that show appreciation and thoughtfulness. Homemade gifts, acts of service, or memory books can mean just as much—if not more—than a store-bought item. Involve your family in crafting meaningful gifts, perhaps based on shared military experiences or family traditions. Some families choose to do a gift exchange, so each person receives one meaningful gift instead of multiple.

Step 4: Look for Community Support and Discounts

Veteran organizations and local groups often offer holiday support for military families, whether through discounted meals, gift giveaways, or community events. If your budget is tight, look into resources like the Armed Services YMCA, the VA, and local Veteran groups to see if there are any holiday-specific programs or benefits available.

Step 5: Build a Savings Plan for Next Year

Use this holiday season to kickstart a savings tradition. As a Veteran family, you may already have emergency or transition funds, but setting aside a small amount monthly specifically for the holidays can reduce next year’s financial burden. Start small—even $10 or $20 a month can make a difference. Consider creating a separate “Holiday Fund” in your bank account or cash envelope system.

Step 6: Keep Holiday Spending Goals in Mind for Major Life Changes

If you're transitioning out of the military soon, plan ahead for holiday expenses alongside other big changes. Adjust your budget to prepare for fluctuating income or new expenses. Consider joining Veteran Saves to help set and achieve your financial goals year-round, including those that come with the holiday season.

By creating a thoughtful holiday spending and savings plan, you’re giving your family the gift of financial security while enjoying the holiday season. This approach helps you focus on what really matters—family, friends, and making cherished memories.

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Veteran Saves wants to be your partner! Take the Veteran Saves Pledge today and we’ll stick with you on your savings journey. Along the way, we’ll send you emails and texts full of tips and resources to keep you motivated and on the right path!