3 Common Mistakes That Make Chanukkah Too Expensive

Chanukkah is a festive holiday that falls late in the year. Sometimes, it overlaps with Christmas. Other times, it comes much sooner, leaving those who celebrate to scramble to finish their shopping and preparation on time.

Like Christmas, Chanukkah has the potential to be a very expensive experience. So if you'd rather not run up a giant credit card tab this Chanukkah, here are some common mistakes you'll want to steer clear of.

1. Buying big-ticket gift items for all eight nights

It's common for people who celebrate Christmas to get more than one gift. And so there's certainly nothing wrong with giving your kids more than one gift for Chanukkah, too.

But because the holiday is eight nights long, there can be a lot of pressure to come up with a fabulous present each and every night. And if you succumb to that pressure, you might end up raiding your savings account in a very big way.

Instead of doing that, set ground rules with your kids. Consider buying a bigger-ticket gift the first and last night of the holiday. Then, for the nights in between, focus on smaller items that don't cost a lot -- things like cozy socks, beauty products, or fidget toys. You can also decide that you're going to skip the gifts altogether some of those nights and hand out chocolate coins, or Chanukkah gelt, instead. You can pick up a 50-piece bag from Amazon for under $20.

Another option? Do something together as a family over the holiday instead of exchanging gifts one night. A movie night with popcorn and sweets might easily take the place of yet another board game or doll.

2. Going overboard on decorations

Colored lights and a giant tree are hallmarks of Christmas. For Chanukkah, not so much.

You might choose to string some lights in celebration, but the cost of going all out on decorations can be significant -- even if you're only illuminating them for eight nights. So if you're looking to limit your spending, skip the decorations. Or have your kids make some signs and hang them up inside your home.

A big part of celebrating Chanukkah is lighting a menorah every night and displaying it somewhere prominent, like a window. Doing that is a great way to brighten your home without having to jack up your electricity bill or spend a pile of money on electric lights from the hardware store.

3. Feeling compelled to dress for the occasion

The matching pajama trend isn't just a Christmas thing; plenty of people who celebrate Chanukkah tend to jump on that bandwagon as well. But before you spend a small fortune on identical pj's for your family, think about whether you really need them and whether anyone in your household will actually wear them outside of those eight nights.

Target, for example, has Chanukkah pajamas that cost $25 for adults, $15 for kids, and $12 for toddlers. So let's say your household consists of two adults, two school-aged kids, and a 2-year-old. If so, you're looking at a whopping $92 for nighttime clothing that might spend the bulk of the year tucked away in the back of your closets -- and that your kids will outgrow quickly.

As is the case with any holiday, celebrating Chanukkah could become quite costly if you let it. But if you avoid these mistakes, you can avoid financial regrets in the course of enjoying the Festival of Lights.