Five Golden Tips for Controlling your Holiday Spending
The holidays are all about giving, right? Instead of getting all wrapped up in spending, give yourself the gift of better spending habits with these 5 golden tips for controlling your holiday funds.
1. Set limits for total holiday spending
Your sister may have paid of her student loans 2 years ago, and always gets you the nicest gifts. However you are in a different place in your financial life, you should not try to compete. If you think those on your list would not appreciate a less expensive gift, think back to what they gave you during hard times. Your relationship will be able to withstand a more modest gift if it means staying out of debt!
2. Make your list and check it twice
Santa May have to buy gifts for the whole world, but you don’t! If your shopping list includes more than five people outside your immediate family, you’re doing too much and it’s time to cut back. Bake some cookies to give to all the people you cut from your list and attach a holiday card or hand written note to spread your holiday cheer.
3. Codes! Codes! Codes!
Black Friday is not the only time to save during your holiday shopping. Before you check out online or in the stores, be sure to day a quick search for any discount codes or coupons. While searching for your coupons make sure to comparison shop or find out if the store offers price matching. Saving $10 to $100 dollars can happen just by keeping your eyes out for deals. Don’t forget to share your codes!
4. Get personal
A thoughtful gift is worth more than an expensive one. I sure we all have a drawer of gifts we may never use, but keep because it cost someone a lot of money. Avoid shopping for the trendy items this season and instead take a moment to think about what those on your list could really use. For example, your friend that just started cake decorating could really use some new stencils for less than $10.
5. Give your Time
Mom and Dad (or any other long distance family and friends) probably want nothing more than a visit from you. Plan a trip; give small gifts and big hugs (slap a bow on yourself for good measure!).
Your friends and family probably struggle with over spending just as much as you do over the holidays. Give everyone some relief by organizing a group volunteer day instead. You will have a chance to spend the day together spreading love – and there’s no buyer’s remorse!