For many, the holiday seasons is the largest spending season of the year. It is when many spend beyond their income and often utilize or max out our credit cards. Here’s how to make it through the holidays without breaking the bank.
Make A List And Stick To It
First up, make a list of who you are going to shop for. This list should not be centered around who you expect to receive gifts from. Instead, focus on who you sincerely want to give to. If your family is large, consider only shopping for the kids—or drawing names. Once the list is complete, stick to it.
Set Your Budget
Too few people actually set holiday budgets. This lack of accountability almost always results in increased spending. Once you set your budget you can set a spending range for each person on your list.
I’m a big fan of all-year gift shopping and after-Christmas sale shopping. By shopping all year round for gifts I am able to spend less and buy better gifts. This includes shopping when items are on sale, shopping clearance racks, utilizing my frequent shopper coupon codes, store closing sales, and always shopping for gems at stores like Marshalls.
Last but not least, don’t count out making your own gifts or giving gifts of time—that cost little to no money.