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Budgeting Tips for Your Holiday Shopping

12.19.22

Don’t want to go overboard while last minute holiday shopping this year?

Arm yourself with these budgeting tips so you don’t fall prey to holiday overspending!

What Is the Key to Managing Holiday Spending?

Smart gift shopping around the holidays is key. It can be especially easy to overspend when you are in a rush to finish up your holiday gift buying. Having a plan of action is one of the best ways to prepare yourself especially with budgeting.

  • Make a list of the things you want to spend the money on during the holidays. That includes decorations, drinks, food, gifts, and charitable giving.
  • Set a portion of your paycheck aside. You should have some money on the side in case of an emergency or unexpected holiday expense.
  • Prioritize your spending. Not all gifts have to be luxurious and expensive. Remember, it is the thought that counts.

1.    Shop Around

There are a few ways you can save money by shopping around. Setting up alerts for prices, adding items to your cart and checking back, and also signing up for promo codes and new member discounts are always an option (remember to unsubscribe after you use the code to avoid being lured into post-holiday sales).  Do your homework to score the best prices on all your holiday essentials.

2.    Make Some DIY Gifts

If you want to make your gift memorable on a tight budget, then it’s time to get creative. Some great DIY presents include: Handmade Jewelry, baked goods, acts of service, DIY family photo collages.

3.    Get a Group Gift

When you shop for the holidays, you can save a lot if you get other people involved. If you are planning to get a present for a coworker or family member, there is no need to spend on a larger gift. You can break down the cost among others.

Budgeting for the holiday season is not always easy and certainly not the most fun. But by having plan in place, you can enjoy the festivities without dipping into your savings.

Happy holidays!