How To Avoid Overspending During The Holidays

 

Are you in a holiday rush right now? Still trying to go down that what seems to be a never ending shopping list of gifts, things to do, food to buy, presents to wrap, parties to attend- you get the picture! And if this is you I’m glad you found me and this post! I’m glad you’re taking some time off (you need it!) to take a few seconds or minutes of breathing time. 😊

After Thanksgiving it seems like the Holiday frenzy never stops. First comes Black Friday, (you have not even digested your turkey😩)then December rolls in and boy oh boy it seems like days are coming and going by so fast, sadly the same applies to your money.

In this post I’m sharing some easy tips on how to avoid overspending and going overboard your budget while still making the most of your holidays.

 

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Plan ahead of time. If you are hosting a Christmas Party or two this year, or going to one, buying presents etc, give yourself ample time to do all these. Make notes and get organized. Most impulse purchases are made from those things that were not planned for so just think and plan ahead.

Make a list and a set budget. How many gifts are you going to buy? How much food are you going to make? What places are you traveling to? A good old list always works. I like writing it on a piece of paper and sometimes taking a photo of it on my phone so I won’t forget. I also use my Notes app on my Iphone to save tasks I need to do and make changes as I go along. A realistic budget is a great way to see exactly how much you are spending throughout this season.

 

 

Delegate, delegate and delegate more. Family party? Make sure everyone’s invited and more importantly, assign tasks and things/food to bring so everybody participates and so that the hostess doesn’t get overwhelmed. If this is you, be frank and tell them what you will need and what you already have. A potluck is a great idea for the holidays, assign each person/family a meal/dish and that way you will not need to worry about much else. Just remind people a few days before so no one forgets. 😉

Give presents to those who matter most. I used to go overboard each year with presents, mainly because I always gave everyone an expensive gift. Don’t get me wrong I love my family and friends but in reality hardly anyone was spending the way I was. What I do now is really find the ones whom I want to buy for and stick to that list. Kids check. Aunt and uncle yes. Friend of an uncle who I see once a year, hellz no. You get the idea.

 

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Find deals in-store and online. I start my Christmas shopping during the Black Friday sales and that’s usually when the best deals start. Stores know our buying habits and offer amazing sales! If you were prepared with your list by this time, you can accomplish your tasks even before December rolls around as most places have bargains! 😊The early bird gets the worm indeed.

Think about future plans. Now deals can also be a plenty this time or the year and it’s so easy to overspend and wreck that budget. Is a cruise worth almost a thousand dollars gonna fit in your next year’s budget? While it seems logical considering deals left and right, also think about paying for all them in the coming year. You don’t want to set the new year on a bad foot right? So I would say if the purchase is more expensive and is a luxury item, sleep on it (maybe awhile!) and see if you still want it the next day. Chances are you rationalized and maybe want to pass on it. If you really want it, just make sure to account it on your next year’s payment plans, or you can also go the debit card route so you’re only spending the money you have now.

 

There you have it, some of my tips on how to avoid overspending during the Holidays. These tips have worked for me, I’d like to know if you guys are sticking to a budget too this year and some other tips you may have! 😉After all the true meaning of this season is not overspending on presents and things but it really is the time to spend with family and loved ones. And that my friends, is priceless. 😍

Happy Holidays!

 

 

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