Has the holiday season caught up with faster than your wallet can keep up with? Sometimes the season of giving can over-extend our budgets and end up breaking the bank, so to speak. It’s never too late to get some tips to help keep you from overspending. So, let’s take a look at four helpful tips that will help keep your wallet…and sanity…intact during the holiday season.
Always Track Your Spending
When you’re on a budget, it’s imperative that you’re always keeping track of how much you’re spending with each purchase you make. And don’t forget to budget for unforeseen surprises like a party you’ve been invited to that’s having a secret Santa gift exchange or a niece or nephew you may have forgotten about getting a gift for. You can choose how you keep track of your spending, whether it’s old school with pen and paper or an app on your phone that helps you keep track of your purchases. The bottom line here is to be sure to stay on top of your purchases and your budget, that way you can catch yourself if you’re spending looks like it may be getting out of control.
Don’t Just Make a Plan…Stick to It
It’s always a good idea to go into your holiday shopping with a plan. And that also mean sticking to that plan. If you go into stores without a plan, you’ll be much more inclined to overspend, which mean blowing your intended budget. So, have a plan ready as to what exactly you intend to but for each person on your list and how much you’ll be spending. Be confident of your plan before you head out to shop. That way, you’ll be inclined to stick with the plan and not veer away from it.
Reuse and Recycle When it Comes to Wrapping
Yes, fancy bows, wrapping, and other gift decorations can be a beautiful addition to any gift. But they can also be pretty wasteful, especially when you’re on a tight budget. So, don’t be afraid to be creative and think of some do-it-yourself ways to package and wrap your gifts. You can use newspaper and magazine pages as colorful and unique gift-wrapping options. Or perhaps you can look for reusable canvas totes to put your gifts in, doubling as gift wrap as well as an added gift bonus that can be used again by the recipient.
Skip the Frills and Extras
There are plenty of add-ons and frilly looking extras that can tempt us into overspendings during the holiday season. The trick is…don’t give into the temptations. This also means not spending extra on little treats here and there for yourself, like food and drink specialties that are typically overpriced and ready to take a bite out of your budget. Keep it short and simple when shopping for your holiday gifts. That way you’ll be less tempted to give into the extras.
Holiday shopping doesn’t have to be hard on your wallet. With a plan, a strict budget, and following through on that budget, you should have plenty of success shopping without overspending.