While there’s no place like home for the holidays, one festive pastime worth avoiding at all costs.
Literally, is any temptation to overspend on your gifts, travels or parties.
There is plenty of pressure to live it up and give great gifts, travel to all friends and family and be the life of the holiday party.
But no spending is worth the cost of post-holiday debt or financial woes in the aftermath.
It doesn’t take a lot of money to make the holidays enjoyable — just a lot of creativity and fu
1. Set a budget
Budgeting allows you to create a spending plan for your money, it ensures that you will always have enough money for the things you need and the things that are important to you.
Most people don’t like the “budget” word — but if you decide how much you can spend, you are more likely to spend less.
2. Make a list
Creating a list can make everything more manageable and will keep you organized and focused.
Make a list of people they want to remember during the holidays and use the list to help plan how to spend.
Making a list of people and what you want to give them will keep you from buying more than you need.
Instead of deciding on the gift first, decide on the dollar amount you want to spend, then find a gift that fits the bill.
3. Set a limit
Many friends and families enjoy white elephant or secret Santa gift-giving.
Set a limit on how much you will spend — as little as the dollars you works. Have a gift exchange and enjoy the fun.
4. Start shopping early
The earlier you start shopping for the holidays, the easier it will be to resist overspending.
And starting early allows you time to find the perfect gift for everyone on your list, instead of having to shop at the last minute.
5. Take advantage of special sale days
There are a few days during the holiday shopping season when deals abound
Black Friday, the day after Thanksgiving, is the traditional kickoff to the holiday shopping season
It pays to take advantage of the deals and stash them away for gifts you know you’re going to need to buy later on
6. Use apps that can save you money
Take advantage of technology this holiday shopping season and use one of the many budgeting and money-saving apps.
Keep tabs on your spending by using a budgeting app
7. Avoid credit cards.
You end up paying a lot more for your gifts if you charge them. Interest can pile up quickly.
Only charge what you can pay off within 30 days to avoid extra expenses
8. Shop With Cash
A good way to limit your holiday spending is to shop with only enough cash to buy items on your list.
Shopping with cash will not only help you avoid impulse purchases, but it can also stop the trend of buying gifts for yourself.
