There may be nothing that diminishes the cheerful spirit of the holiday season than getting a huge credit card bill or spending way more money than you intended. It doesn’t seem like a fair fight sometimes with all the special deals and advertising thrown at you from every angle.
It’s easy to get caught up in the craze of the holidays and overspend.
However, with a little preparation and some creativity you can make it through the holidays without busting your bank account. Here are five tips from Northeast Security Bank to manage your holiday spending this year.
Set limits for total spending- there’s no easier way to ensure you don’t overspend than by setting an overall spending limit. Figure out who all you have to shop for and then set your spending limit.
Make your own “naughty” and “nice” lists- there’s no need for you to buy presents for the whole world. If you have more than five people outside your immediate family on your shopping list, you need to cut it down. You can always bake some cookies for those who got cut.
Budget based on your finances- sure, it would be nice to buy all the best gifts for everyone on your list. However, it’s not worth going into debt just to buy gifts.
Go for personal gifts over expensive ones- those trendy department starts are enticing, but do the people on your list really need what they’re offering? Personal gifts can be just as satisfying as a big ticket item.
Hunt for coupons and coupon codes- sales aren’t the only way to get deals when you’re out shopping. Keep your eyes peeled for coupons and coupon codes for discounts.
What strategies do you use to keep your shopping expenses down? Whichever strategy you use, Northeast Security Bank hopes both your holiday shopping and the holidays in general go smoothly. Good luck with your shopping, and we’ll see you soon! Tags: financial management, holiday finances, holiday shopping, holiday shopping tips