Holidays seasons serve not only relaxation purposes but also as moments when you can over indulge and spend your financial resources a bit more than you do. It is however important to be mindful of the fact that overspending can spoil the holiday fun and even prove burdensome after the holidays are over.Below are some tips to help you control holiday spending.
Set Limits for Total Holiday Spending – Give your credit card and your mind a holiday by limiting what you buy to what can safely come out of your bank account. Use this opportunity to create or get your budget into fighting shape,and use it to decide how much money you can afford to spend.Just remember to be realistic about what you are willing to sacrifice. You may spend your monthly clothing budget on holiday gifts and then crave a new pair of boots to go to a holiday party. You need to set a budget and limits that you will stick to – without caving in and racking up the credit.
Make Your Own Naughty or Nice Lists – If your shopping list includes more than five people outside of your immediate family,cut down on the number of people on your present list.You can also consider other less expensive gift alternatives which you can give your friends.
Budget Based on Your Own Finances – You must avoid the temptation of following other peoples financial patterns and habits.It is important to budget based on your current financial life.By living and budgeting according to your means,you will avoid debt loads.
Become a Coupon and Coupon Code Collector – Sales aren’t the only way to get great deals on the gifts you want for your friends or family.Before you shop online,perform a quick web search for coupon codes for your favourite online stores.Before you shop in local stores,comb through the coupons you received in your mailbox before hitting the mall.While you search through the flyers,make sure you do a shop comparison for the item you are interested in.
Give Yourself a Better Spending Habit – Get over the debates on how you are going to pay off your credit cards next month anxiety and give yourself a gift by developing a new and improved spending habit.For instance,for every rand you spend on gifts,you could find a way to remove that rand from your regular spending. Around the holidays,you can use those savings to buy presents.
