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Wednesday, November 4, 2015

How to Stick to Your Holiday Shopping Budget

How to Stick to Your Holiday Shopping Budget  via  www.productreviewmom.com


Setting a budget is easy. However, sticking to it is another thing, which is why so many people find themselves in holiday debt. Today, I am sharing some tips with you that will help you stick to your holiday shopping budget this year. 



Know What You Can Afford
The first thing you have to do is analyze your budget. Make sure that you can afford to spend the amount of money that you have in your budget. When analyzing your budget make sure that you have factored in money for holiday emergencies, so you don’t spend your cushion money while shopping.



Check Your List Twice
Before going to the store, I highly suggest you write a list and check it twice. Go online and put down the amounts that the item should cost in the store and make sure that you have included everything that you “need”. When you get to the store, go solely off the list and check the price tags to ensure that the prices are not more than what you have written down.



Give Lightly at Work
If you do secret Santa swaps at work, do not feel as though you have to purchase the most expensive gift you can find. Your co-workers work the same job as you, so they know that you are not rich. They will be happy with what they receive, as Christmas is about giving and not receiving, so purchase whatever it is that you can afford. However, if you are a boss, you may want to give a little more to keep your employees happy.



Talk to Your Spouse and Relatives
Did you know that holiday shopping not only affects you? How about the fact that many people open new credit cards during the holiday season to afford expensive purchases?


Therefore, before shopping, talk to your spouse (if married) and your relatives. The reason for this is if you are known for getting shockingly big gifts, but cannot do that this year, they need to know. They may be preparing to give you a huge gift because they are expecting to receive one from you. By letting them know upfront, they can be aware that you won’t be spending a ton of cash on their gift. If they still spend a load on you that's fine, but at least they won’t be disappointed when present opening time occurs.


Talking to your spouse is necessary to ensure that you both have the same mindset about finances.



Don’t Use Credit Cards
The worst thing to do is use credit cards to shop for the holidays. While you may have the available balance on your card to purchase gifts, it does not mean that you will not have to pay the money back. Therefore, when holiday time rolls around put your credit cards away. If you cannot afford to get something without a credit card, you don’t need to purchase it.



How do you stick to your holiday shopping budget?

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4 comments

  1. I buy cash or layaway for the holiday I think I m the only person left who does layaway too lol. I knocked out both kids tax free weekend since I had the money at that time so we are actually done with them.

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    1. That was smart Kita you shopped for gifts during tax free weekend. I have never done layaway, but I have spent on my credit card for Christmas gifts, worst thing I ever did. Took me close to a year to pay off my debt, not worth it. I think layaway is a much better option.

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  2. My christmas savings plan was derailed this year because we are going to Disney for Pookah's birthday. Do you know yesterday that little boy handed me a list for christmas gifts! And I couldn't say anything because Disney is a surprise for his birthday! LOL

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    Replies
    1. LMAO!!!!! But hey girl, when he finds out about where he is going for his birthday I bet you he won't even think about Christmas. Well until Christmas is a couple of weeks away.

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