The holidays are a time for joy, family, and giving. But for many people, the holiday season is also a time of stress—specifically regarding their finances. It’s easy to overspend during this time of year, but sticking to a budget is not impossible. Here are a few tips to help you avoid overspending this holiday season.
Set A Budget And Stick To It
One of the best ways to avoid overspending during the holidays is to set a budget—and stick to it. Sit down and list all the people you need to buy gifts for and what you can reasonably afford to spend on each person. Once you have your list and budget, could you do your best to stick to it? It’s okay if you go over a bit, but try not to exceed your budget by more than 10-15%. If you are already in a financial bind, you can get IVA Help, and you can be sure that this removes any financial stress this holiday season.
Take Advantage Of Black Friday Deals—But Don’t Go Overboard
Black Friday is one of the best times of year to snag deals on gifts, but it’s also easy to go overboard and spend more than you intended. To avoid overspending, list the items you need to buy ahead and only purchase them when you see them on sale. It’s also important to remember that not everything is a good deal just because it’s on sale—only buy genuinely discounted items that you know the people on your list will love.
Shop Online To Avoid Impulse Purchases
If you find yourself quickly succumbing to impulse purchases, it might be best to do your holiday shopping online. Shopping online allows you to avoid the temptations of in-store sales and discounts, and you can take your time to find the best deals. Plus, many online retailers offer free shipping during the holidays so that you can save even more money.
Give Experiences, Not Things
One of the best ways to avoid overspending during the holidays is to give experiences, not things. Instead of buying your loved ones material items that will end up collecting dust, opt for an experience they can enjoy and remember. Tickets to a show or a gift certificate for a day at the spa are always appreciated, and they won’t break the bank.
Know What It’s All About
Finally, try not to get caught up in the “holiday spirit” of giving. Getting caught up in the feeling that you need to buy expensive gifts for everyone on your list is easy, but that’s not necessarily true. Sometimes, the best skills are personal and thoughtful—not necessarily ones that cost a lot of money. Keep this in mind when you’re shopping for gifts this holiday season.
The holidays are a wonderful time of year, but they can also be stressful, especially concerning finances. By following these tips, you can prevent overspending and stick to your holiday budget. And remember, sometimes the best gifts are personal and thoughtful—not necessarily ones that cost a lot of money—wishing you a happy (and stress-free) holiday season!
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*This is a collaborative article