Overspending at Christmas is probably one of the easiest things you’ll ever do. In fact, millions of dollars are spent by retailers every year to encourage you to do just that. So, with all of this pressure to spend more than you intend to, do you stand a chance at sticking to your budget?
You bet you do! Now, don’t make the mistake of thinking that it will be easy. You will have to withstand a lot of temptation. But, by following tips like these, you can bet that you’ll proudly be able to say you stuck to your holiday budget this year.
Use cash. I know it doesn’t sound convenient to have to carry around a bunch of cash while you’re Christmas shopping. Heck, it might even sound dangerous. The truth of the matter is, though, that it just hurts more to hand over cash than it does to write a check or use a credit/debit card. Promise yourself that you won’t spend more than you have in your Christmas fund. Then, put the fund into one envelope. As you can physically see the amount of cash in your envelope decrease, you’ll know that it’s time to stop spending.
Shop with a buddy. Ideally, your husband or significant other will come shopping with you. If that doesn’t work for you, though, choose a shopping buddy. My best friend is great about playfully reminding me when I’m spending more than I told her I was going to. If you have to justify your shopping habits to someone else, you may find yourself much more likely to stick to the rules you set for yourself.
Make a plan. For many folks, overspending at Christmas comes from what I call “panic spending.” Basically, this happens when you realize that you’re out of time and you have to get “something” for the people remaining on your list. Suddenly, all thoughts of budget go out the window, and you’re frantically looking for the nearest appropriate gift. Instead of enduring this panic, write out a list of people you have to buy gifts for ahead of time. Look through holiday ads, reflect on things you’ve noticed they might like, and write up a shopping list. You might even note where you’ve seen that gift and its approximate price. Now you have a shopping plan!
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6 responses so far ↓
1 MissLady // Nov 26, 2008 at 6:14 pm
These are very handy tips. I used these tips this year and I avoided spending half of what I normally do and did my shopping in half the time as well. I avoided major stress and headaches. Thanks.
2 Coupon shipping // Nov 27, 2008 at 9:14 pm
Great tips! I do most of my shopping online now!
I don’t like shopping when there is too much people around!
Pascale
3 jerry // Nov 28, 2008 at 4:57 am
Yes, you can certainly stay within your budget for Christmas. With so many other bills to pay (mortgage, insurance, utilities) you’ve GOT to have a plan for the holidays if you’re going to stay on track with your goals. For us, we use ebay for a lot of gifts. You can find great deals on there. Another is that we shop all year long for deals. You’ve really got to know what the person wants but when you find a good deal, grab it. Then, it doesn’t feel like holiday shopping will lead to breaking the bank when December comes around.
Jerry
http://www.leads4insurance.com
4 Hot Christmas Online » Blog Archive » How to Stop Overspending at Christmas // Nov 28, 2008 at 7:18 am
[...] Dana Joseph wrote an interesting post today onHow to Stop Overspending at ChristmasHere’s a quick excerptNow you have a shopping plan! — Related Articles at Not Made Of Money:. Carnival of Personal Finance #75; Stop Buying Crap; Christmas Traditions – Easy and Inexpensive; Christmas Clearance Starting At Target; Target Christmas Clearance. [...]
5 FBN Roundup-Three Thanksgivings Edition : Tight Fisted Miser // Nov 30, 2008 at 8:46 pm
[...] Not Made of Money shares how to stop overspending at Christmas. [...]
6 AJ McCreary // Dec 1, 2008 at 8:38 pm
Great tip with the shopping buddy. I have decided to cut way back this year, becasue though giving is nice its not needed. We are planning a bake day and will share our holiday cheer with a few homemade baked treats, and buying small gifts or books for all the kids in our lives. I think we as a society have gotten so wrapped up in the stuff that we have forgotten the true meaning of the holidays and spending time with our loved ones. Its refreshing to hear others stepping back, starting traditions and being sensible!
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