Best 5 Tips To Control Your Holiday Spending :
Holidays are usually the time when everyone seems to spend money on things they probably shouldn’t guilt-free. Its almost as if the holidays give everyone a free pass for doing so! But have you ever given any thought to trying to keep your holiday spending in control? If you haven’t, then you surely will now.
In this article, we are giving you 5 awesome tips to control your holiday spending while still being able to keep it enjoyable! Here they are:
1. Have A Holiday Budget Set In Stone!
This is one of the most important and primary tips to control holiday spending. Prepare a budget for your upcoming holidays and make sure you stick to it. This will help give your mind and bank statements a holiday too!
Now, preparing a holiday budget will obviously be way different than preparing one for your household every month. So, you need to do a couple of things differently. In your holiday budget, you need to add in factors such as how much extra money have you saved up, how much are you willing to spend on gifts, and so on. Just remember you need to be brutally realistic about the money you are willing to sacrifice for holidays! Your holiday budget needs to just the right amount or else it is very easy to cave in and then rack up a lot of credit.
2. Optimize Your Shopping List
Another great way of controlling your holiday spending is by optimizing your holiday shopping list. As a thumb rule, remember if your shopping list includes more than 5 people outside your immediate family, you need to cut down on some of them. This doesn’t necessarily mean that you do not give them gifts. You can always bake some homemade cookies for them or do something which is more personal. You can always optimize your holiday shopping list to save additional money without looking like a Scrooge!
3. Keep In Mind Your Financial Position
Holidays can often become a battle of egos for families over who spends the most money! You might have someone in your family who always gets everyone expensive gifts and has a high paying job. Do not let that rope you into spending extra money on gifts. Especially if you are not at a great financial standpoint in life, you have to avoid following suit. Your family will always support you and appreciate you no matter how expensive or cheap your gifts are. Always keep this in mind,
4. Start Collecting Discount Coupons and Code
Collecting discount coupons and codes are one of the easiest ways to save on your holiday spending. Before you checkout on online e-commerce platforms, look for the availability of coupon codes. If you are able to find some, apply them and viola! You have saved $10 on $100 worth of a purchase. This amount might seem small but if you keep doing the same multiple times, you will easily end up saving $100-300 on your holiday shopping! This is an amazing hack that you must try out.
5. Get Rid Of Useless Spending
You can easily create a system for your holiday spending which will help you stay off of spending money uselessly. For example, for every gift that you purchase for the holidays, save a dollar or more from your regular spendings that you can do without. This way, in addition to keeping your holiday spending under control, you will also learn how to get rid of useless expenses.
This brings us to the end of the 5 awesome tips we had to help you control your holiday spending. Also, let us know how you plan your holiday spending and if you put a budget in place for it beforehand.