The holidays are a time for cheer, family, and of course, holiday spending. Many people get caught up in the holiday spirit and go overboard with their spending. If you’re looking to get through this holiday season without breaking the bank, here are four tips that can help you control your spending:
Make A List (and stick to it!)
Before you start shopping, take the time to make a list and set limits for how much you can spend on gifts and other holiday expenses. Once you have your list in place, be sure to stick to it!
Don’t get caught up in the holiday hype and add on extra items. Many people get carried away with excitement and spend themselves into oblivion over “good deals”. Remember, the deals are only good if they’re on items you were intending including them in your holiday spending in the first place – NOT if you’re overspending.
Making a list will help keep you accountable and on track with your holiday spending. Make that list and check it twice!
Look For Deals.
Shop around online and compare prices from different stores before making any purchases. This may help you find deals that will save you money while still allowing you to purchase quality items.
Many online stores offer free shipping on orders over a certain amount, so be sure to take advantage of that. You can also find discounts and promo codes online to save even more money on your purchases.
Taking advantage of price matching options is an excellent way to ensure you get the best deal. Many stores, like Target, will price match their own sales during the holiday season to make sure you get the best deal. Look into each store’s price matching policies, and be sure to take advantage of them!
Avoid buy now, pay later options and racking up credit card debt.
Credit card debt can be difficult to pay off, so it’s best to avoid it altogether. This holiday season, be sure to only purchase items you can afford with cash. If you find yourself wanting something that’s not on your list, wait and save up for it. Don’t get caught up in the buy now, pay later mentality – that’s a surefire way to get yourself into trouble and rack up unnecessary holiday spending.
If you already have credit card debt, be sure to make a plan to pay it off as soon as possible. The holidays are a great time to get into the habit of overspending, but they’re also a great time to get into the habit of getting your finances back on track. So, if you’re feeling overwhelmed by your holiday debt, don’t worry – you’re not alone. There are plenty of resources out there to help you get back on track.
Whatever you do, don’t bury your head in the sand. Dealing with your credit card debt is definitely not fun, but it’s important if you want to get your finances in order. Take some time this holiday season to assess your situation and come up with a plan to get yourself back on track.
If you want to use credit cards to accumulate points, cash back, miles, or other benefits, go for it, but ONLY charge what you know you can easily pay off. This will help keep your holiday spending under control and help you avoid any unnecessary debt.
Don’t break the bank entertaining!
Hosting a holiday party can be a lot of fun, but it can also be expensive. To keep your holiday spending under control, approach your party planning in the same way you do your shopping – establish a spend plan, make a list, and stick to it!
Here are a few other tips to help you keep your holiday party costs under control:
Make your party a potluck: Potluck parties are a great way to get everyone involved and save money on food. Ask everyone to bring a dish to share, and you can all enjoy a festive feast without breaking the bank. You can also ask people to bring drinks, decorations, or other party supplies to help keep costs down.
Limit the number of guests: The more people you invite, the more money you’ll spend on food, drinks, and decorations. Keep the guest list short to avoid increasing your holiday spending.
Looking to stay on track with your financial goals this holiday season?
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