Podcast Summary: Post Reports Episode Title: You can avoid overspending on the holidays. Here’s how. Date: November 24, 2025
Host: Colby Ekowicz
Guest: Michelle Singletary (Personal Finance Columnist, The Washington Post)

Episode Overview

In this episode, Colby Ekowicz speaks with Michelle Singletary, a renowned personal finance columnist at The Washington Post, about practical strategies for managing holiday spending. With many families feeling financially stretched due to the rising costs of essentials and ongoing economic uncertainty, Michelle offers insights on how to create meaningful holiday experiences without overspending. Topics range from tackling gift lists on a budget and avoiding holiday debt traps to hosting economical gatherings and initiating honest conversations about scaling back.

Key Discussion Points & Insights

1. The Changing Nature of Holiday Deals and Black Friday (02:24–04:40)

• Black Friday’s Lure Diminished: Michelle notes that Black Friday deals now start months in advance, blurring what used to be a distinct day of steep discounts.
  • “I actually see sales as like a sneaky trick to get you to spend more.” — Michelle Singletary (02:29)
• Online Shopping’s Impact: The pandemic shifted habits and made deals widely accessible all year, diluting the urgency.
• Price-Tracking Is Key: Use price history tools instead of relying on “50% off” claims, which are often misleading.

2. Smart Holiday Gift Spending: Methods & Mindset (04:40–07:17)

• Gift-Giving as a ‘Love Language’: Michelle respects that for many, gift-giving is a cherished way to show affection, but urges discipline.

• Budget-First Planning: Begin with your total available amount (“start with the amount of money”) and then allocate it across your recipients, not the other way around.

  • “Instead of writing a whole list of everybody you have to give to, start with how much you can afford to spend.” — Michelle (05:25)

• Track Purchases in Real Time: Use an index card to subtract each purchase from your total holiday budget.

• Accountability Partner: Shop with a frugal friend to help you stick to your plan.

3. Navigating Anxiety & Financial Insecurity (07:17–08:31)

• Heightened Stress Levels: Michelle observes higher anxiety this season due to job insecurity across industries.
  • “None of us are secure. And knowing that you have to spend and give appropriately.” — Michelle (07:33)
• Realistic Gift-Giving: It’s crucial to adjust giving to your actual circumstances and prioritize necessities and security.

4. Managing Children’s Expectations & Family Traditions (08:31–10:49)

• Be Honest with Kids: Managing expectations—even with younger children—is a kindness and a learning opportunity.
• Creative Traditions: Michelle shares her grandmother’s approach of using fruit and nuts to pad out gift piles, creating abundance from little.
  • “The best present you can give your children if you are struggling financially is not to increase that anxiety by giving them things you can’t afford.” — Michelle (09:10)
• Group Gifting: Delay opening presents until family gatherings so the collective generosity makes the haul seem bigger.

5. Layaway vs. ‘Buy Now, Pay Later’ and Debt Dangers (10:49–12:26)

• From Layaway to Debt: Traditional layaway required full payment before receiving items—in contrast to today’s “buy now, pay later” options, which Michelle sees as potentially risky.
  • “Because it encourages them to overspend because they can stretch it out in a couple of payments.” — Michelle (11:10)
• Credit Cards & Store Offers: Store cards tempt shoppers with extra discounts, but usually carry high interest and can impact credit scores.

6. Year-Round Budgeting and the Envelope System (12:26–13:37)

• Envelope System Endorsed: Setting aside cash throughout the year in envelopes labeled for holidays, travel, etc., remains an effective way to avoid overspending.
  • “Any strategy that will help keep you within your budget... is very effective for people because it makes sure that they live within their means.” — Michelle (13:02)

7. Tips for Cost-Effective Hosting (16:18–18:27)

• No ‘Cover Charges’ for Holiday Meals: Michelle strongly discourages charging guests to attend Thanksgiving or similar meals.
  • “If you can’t afford to host, don’t host... guests should not pay. It’s as simple as that.” — Michelle (16:50)
• Potluck as a Solution: Share costs and responsibilities by assigning dishes and items based on guests’ talents (or lack thereof!) and needs.

8. How to Talk About Scaling Back (18:27–20:54)

• Opening Difficult Conversations: Michelle suggests starting early and framing budget limits honestly—most people are relieved to follow your lead.
  • “Once you bring it up, I know my budget, too. My emergency fund isn’t where it should be. And it just releases everybody from this responsibility of spending money on each other.” — Michelle (18:49)
• Managing Family Expectations: Let people know ahead of time if you plan to do a low-key holiday or reduced gift exchange.

9. Alternative, Meaningful Gift Ideas (21:13–23:33)

• Gifts of Service & Time: Offer babysitting, help with errands, or share special experiences instead of material things.
  • “I will take your kids one Saturday night... that’s the best gift ever.” — Michelle (21:37)
• Secret Santa: Limit gift-buying to one recipient in larger families.
• Treasure Time, Not Things: Michelle stresses that the most cherished memories come from shared experiences and acts of care—not gifts.
  • “Please remember that the thing that we treasure the most is time. And that’s something you can’t buy.” — Michelle (22:53)
• Personal Stories: Both host and guest recall memories with loved ones that centered not on gifts but on shared moments (23:33).

Notable Quotes & Memorable Moments

• On Black Friday Sales:
  “I actually see sales as like a sneaky trick to get you to spend more.” — Michelle (02:29)

• On Budgeting:
  “Start with the amount of money. And then you want to get an index card... so you’re constantly keeping track of how much you have.” — Michelle (06:32)

• On Holiday Debt:
  “If you have to use ‘buy now, pay later’ for the holidays, you probably can’t afford the gifts you’re getting... it is debt.” — Michelle (11:23)

• On Managing Children’s Expectations:
  “Don’t underestimate the ability of your children to understand the situation... what I can give you, I’ll try. But the most important thing is that I love you and want to create a safe home for you.” — Michelle (09:48)

• On No-Pay Thanksgiving:
  “If you can’t afford to host, don’t host... guests should not pay. It’s as simple as that.” — Michelle (16:50)

• On Bringing Up Budget Limits:
  “Once you bring it up... it just releases everybody from this responsibility of spending money on each other.” — Michelle (18:49)

• On Gifting Time:
  “Please remember that the thing we treasure the most is time. And that’s something you can’t buy.” — Michelle (22:53)

Key Timestamps

• Changing Black Friday & Shopping Habits: 02:24–04:40
• Gift Budgeting & Planning: 04:40–07:17
• Coping with Financial Stress: 07:17–08:31
• Managing Holidays with Kids: 08:31–10:49
• Debt Traps (‘Buy Now, Pay Later’): 10:49–12:26
• Envelope Method & Year-Round Budgeting: 12:26–13:37
• Frugal Hosting Tips: 16:18–18:27
• Navigating Difficult Money Conversations: 18:27–20:54
• Meaningful Gift Alternatives: 21:13–23:33

Tone & Style

Michelle’s approach is empathetic, pragmatic, slightly humorous, and always direct—she encourages listeners to be realistic, kind to themselves, and to prioritize relationships over “stuff.” The conversation is warm, practical, and reassuring, offering listeners permission to simplify, scale back, and enjoy the season with less stress.

This episode is a must-listen for anyone anxious about holiday spending, seeking budget-friendly gift strategies, or wanting to create meaningful moments without financial regret.