The holiday season is coming up fast, and with it comes all the festivities, joy, and of course, spending. It can be easy to get carried away with all the excitement and end up spending more than you intended. But don't worry, with a little bit of planning and self-discipline, you can enjoy the holiday season without breaking the bank. Here are some tips to help you manage your spending as the holidays approach.
1. CREATE A BUDGET
The first step to managing your holiday spending is to set a budget. Determine how much you can afford to spend on gifts, decorations, food, and other holiday-related expenses. Once you have a budget in place, stick to it as closely as possible. This will help you avoid overspending and ensure that you don't start the new year with a pile of debt.
2. MAKE A LIST
We think Santa might be on to something with this whole list-making thing. We’d suggest you make a list of all the people you plan to buy gifts for, what you plan to buy them, and an ideal dollar amount to spend on them. This will help you stay organized and avoid impulse purchases. Gift expenses can easily get out of hand when you start buying all those small items in the store that “[INSERT NAME HERE} would love!”
3. SHOP EARLY
Start your holiday shopping early. This will give you more time to find the perfect gifts at the best prices. You'll also avoid the stress of last-minute shopping, which can lead to overspending and gifts that spend more time in the donation pile than actually being used.
4. LOOK FOR DEALS & DISCOUNTS
Take advantage of sales, discounts, and promo codes. Many stores offer special holiday deals, so keep an eye out for them. If you’re making a purchase online, take 15 seconds to Google “promo codes for” whichever website you are using. You might be surprised how much money you can save just by moving your thumbs around on your smartphone. Also, you can use apps and websites that compare prices to find the best deals.
5. CONSIDER HOMEMADE GIFTS
Homemade gifts can be a thoughtful and affordable alternative to store-bought gifts. Consider making your own gifts, such as baked goods, crafts, or DIY projects. Not only will you save money, but you'll also show your loved ones how much you care.
By following these tips, you can enjoy the holiday season without worrying about overspending. Happy holidays!