The holiday season is not only full of tempting sweet treats, but deals, discounts, and sales that scream savings.
But don’t be fooled, just as the holiday’s tasty treats can wreak havoc on your post-holiday waistline, so too can the season’s spending on your bank account or credit card bill come January. Can you say post-holiday blues? Not to worry! We’ve got some tips to keep your holiday spending under control so you can celebrate even after the holidays have ended – your finances, too!
How to Not Overspend During the Holidays
Set A Budget
If you haven’t already, it’s time to set a budget for all of that holiday spending. That doesn’t just mean the gift-giving part, but the parties, travel and all ‘trimmings.’ Set your budget and stick to it.
Set Limits on Number of Purchases
To avoid temptation when holiday shopping does finally roll around, strive to set limits for the gifts you’re buying. Try communicating these spending limits to family and friends, or even setting up Secret Santa or Yankee Gift Swaps.
Another option for gifts? Do-it-yourself! With so many online tutorials available today, a quick search will reveal numerous DIY methods for creating foods, crafts, art and everything in between. Plus, everyone is always impressed when a gift is homemade!
Use Cash for Everything
One easy trick to avoid overspending is as simple as leaving the plastic at home. Use cash instead of credit cards for most of your holiday purchases and you’ll find you won’t be as tempted to go over budget as you might be with a card.
Keeping your holiday shopping to a minimum is all about resisting temptation, but we’re confident that if you implement these tips, you’ll make the Nice List this holiday season! For more money management tips you can use around the holidays, stop by your local branch and check out our other Holiday Savings related posts below.