5 ways to tackle the holidays without wrecking your budget
Between holiday gift-giving, entertaining, going out, and other unexpected expenses, the holiday season can send your finances into a tailspin, especially if you have a fixed income.
But you can control holiday spending with just a few simple tricks and still have the most joyous of seasons.
Start early. Decide now who you need to buy for and how much you’ll spend. That way you’ll have plenty of time to search for the best deal, and more time to put away some money for shopping.
Don’t forget hidden expenses. You may budget for gift-giving, but have you set aside a specific amount for things like tips to service people, gift wrap and other supplies, and even the gas you’ll spend if you’re making frequent shopping trips? These costs all add to the bottom line for your holiday season and need to be accounted for.
Shop with cash. Studies have shown that we’re more likely to go overboard with spending when using credit cards. Hitting the stores with a list in your hand and cash in your pocket will help you stay on track.
Get your name—or email address—out there. Many retailers now send coupons primarily through email or text message, so sign up for notifications with your favorite retailers to take advantage of offers.
Give of yourself. If you have a skill, consider using it to make gifts. You can also promise services to friends and family in lieu of presents. And if you’re thinking of throwing a big holiday bash, why not consider getting together with friends to volunteer instead? You’ll have fun and help others too.
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