Take the Stress out of Holiday Shopping
While the holidays represent a time of joy, family, and togetherness, for many, they can also bring about stress – particularly when it comes to shopping and personal finances. But holiday shopping doesn't have to be a burden; in fact, there are numerous ways you can actually reap benefits from it.
Be prepared and plan ahead this holiday season to avoid overspending and racking up credit card debt. Before stressing about the impending expenses, take into consideration the following smart holiday spending tips that can help you make the most of your holiday shopping experience.
Smart Holiday Spending Tips
Set a budget – and stick to it.
Set a limit on how much you want to spend per person (or on a group of people) and how much you can afford for everyone on your list. Avoid the temptation to keep spending once you've reached your budget. After all, does your cousin really need that third candle?
Include all the extras
Try to be as thorough as possible when building your budget so there aren't any unexpected surprises. Don't forget to include things like wrapping paper, holiday cards, food, decorations, and travel expenses. Make a list, check it twice, and shop knowing you've planned ahead to avoid overspending.
Use cash for everything
Once you've spent everything you have, you're done. This helps avoid the temptation of putting items on a credit card you can't really afford.
Save your pennies
Loose change can add up quickly. Anytime you have loose change in your pockets or wallet, throw it in a jar and forget about it. At the end of the year, roll all the coins you've saved and exchange for cash. You'll be surprised what a big dent it can make in your holiday spending!
Start early
Waiting until the last minute could mean items you need are sold out or you've missed the big sale. Starting your holiday shopping early also eliminates the temptation to buy the first (and possibly most expensive) item you see.
Make your own gifts
Everyone loves homemade treats and decorations around the holidays. Whether you're a baker or crafter, a homemade gift can sometimes mean a lot more than a store-bought one.
Shop around
Don't get sucked in by every sale sign you see. Sometimes retailers will increase the price and slap a 10% off sticker so shoppers think they are getting a deal. Shop around, both in stores and online, to find the best deals.
Cash in rewards
Many credit cards or store cards offer cash back, and the holidays are the perfect time to cash in on any rewards you earned throughout the year. If you have several credit cards with rewards programs, figure out which card offers the best cash back bonus or holiday bonus rewards and consider making your holiday purchases, or paying off the remaining expenses, with that card.
The holidays don't have to be associated with a time of stress and financial strain. By planning early and sticking to your budget, you won't have to face the post-holiday financial debt blues.
More like this
How to Start Planning for This Year's Holiday Spending
The holidays may have just ended, but it’s never too early to start planning for the next holiday season shopping expenses! We’ve compiled a few tactics you can use to start planning, saving, and working toward a stress-free holiday season, followed by a debt-free January next year.
In Debt Over Your Head? 5 Steps to Help You Rise Above
If debt is a constant and worrying presence in your life, what measures are you taking to change your current financial situation? If nothing is your answer, you might want to consider these five easy steps to start alleviating the stress that debt can create in your life.
Is Debt Holding Up Your Mortgage Pre-Approval?
Ready to buy a house? Congratulations! That is a big, exciting step, especially if it's your first home. However, before you can choose the perfect property and start packing your bags, you need to secure a mortgage loan, and there is a lot you need to know about that process.
Last Minute Holiday Shopping: What Not To Do
f you’re like the majority of Americans, you probably haven’t finished your holiday shopping yet – maybe you haven’t even started. If that’s the case, we’ve got a few last-minute holiday shopping ‘don’ts’ to keep in mind as you wrap things up... no pun intended.
Need help getting out of debt?
Why wait and save to buy something when you can borrow money today and pay it back later? That's the question many consumers contemplate when making purchases. Combine this attitude with easily-accessible borrowing options and it's no wonder why many find themselves spending their way into debt.
Non-Traditional Holiday Gift Ideas
While giving presents and making someone smile can feel great, the pressure to get the perfect gift can be overwhelming, costly and time-consuming. Many people are difficult to shop for or prefer to buy items they need themselves, which means some gifts go unused.
Oprah's Debt Diet: What It Is & How You Can Benefit
Over a decade ago, talk show host Oprah Winfrey presented her viewers and fans with an 8-step program for debt management. It was designed to get people thinking about their debt, taking control of it, and eventually eliminating their debt altogether.
Planning for the Unexpected: Finding a New Job in the Age of COVID
Planning for the Unexpected: Finding a New Job in the Age of COVID It goes without saying that the last few months have brought unprecedented changes for all of us. Shutdowns, quarantine, job loss or loss of income, have given every working man and woman in America a lot to figure out.
Save Today to Build Tomorrow's Future
Saving money can be compared to a New Year's resolution. It's easy to say but harder to do.
Saving for a Rainy Day
During tough economic times, saving money is even more important, although it can seem difficult. Here are some ideas to help you and your family curb spending and save for a rainy day.
Say “No” to Out of Control Summer Spending
Summer is traditionally a time to let loose and enjoy carefree evenings and fun-filled weekends. Unfortunately, the nicer weather can be hard on finances. Between family vacations and weekly fun, summer expenses tend to add up quickly and create a dent in your hard-earned savings.
Say “No” to Out of Control Summer Spending
Summer is traditionally a time to let loose and enjoy carefree evenings and fun-filled weekends. Unfortunately, the nicer weather can be hard on finances. Between family vacations and weekly fun, summer expenses tend to add up quickly and create a dent in your hard-earned savings.