4 tips to avoid overspending this season
According to a recent survey, about half of us feel pressure to overspend for gift-giving during the holiday season.
But you can be merry and avoid busting your budget with just a few smart moves:
Set limits. Think about how much you can afford to spend, and set a realistic budget for your holiday gift shopping. Make your shopping list by prioritizing those you need to buy for, and then allocate the cash you have budgeted.
Start early. Getting started with your gift shopping now allows you to spread out the costs over a number of weeks. Otherwise, you risk overspending when shopping for everyone at once.
Take advantage of technology. Sites like PriceGrabber.com and Google Shopping can help you find deals on items you’re considering. And Offers.com and DealNews.com show specials for literally thousands of products. Before you head out to stores to shop, go online to search for the product and see what kinds of pricing you find. Then you can use those numbers to inform your in-store buying. Can’t find a better deal at a brick-and-mortar shop? Head back to the internet to make your purchase.
Don’t give in to impulse buying. As many as five out of six Americans admit to making an impulse purchase of an unplanned item while out shopping. And doing so during the holiday season, when we have so many other things we need to spend money on, can be disastrous for our bottom lines. Avoid the temptation by having your specific goals for each shopping trip, outlined on a list, and leave your credit cards at home, since they make it easier to make large purchases.
* Independent Bank is not recommending any specific website, and the customer is responsible for researching the privacy and security policies of the website to determine if they would like to proceed with use of their services.
Equal Housing Lender