Christmas is just around the corner, and it’s easy to overspend or rack up credit card debt if you don’t watch your budget.
If you’re prone to overspending, here are 5 tips to help you trim your expenses and still enjoy the holidays like there’s no tomorrow!
If you haven’t already started, set aside some time today and work out how much money you plan to spend between now and Christmas.
Next, list out everything you want to buy and don’t forget to include special family dinners and travel plans.
Most importantly, stick to your plan!
As you search for that perfect gift, try to find the best deals on that item. And if you come across a gift shop that promotes holiday “deals”, you might be tempted to buy more items than you need just because they’re available at discounted rates.
Be mindful of your budget and decide if that something extra is necessary and worthy of your purchase.
People are always touched when we put in time and effort to do something nice for them. Instead of exceeding your budget on expensive gifts, why not be creative and give your friends something handmade?
You could design bookmarks, bake cookies or simply invite them over for a delicious homemade dinner.
At the height of the shopping season, many of us tend to be carried away easily with our purchases, especially for credit card owners. Wherever possible, pay for everything by cash instead of credit card.
This will help you avoid all the fees and interests that are charged to your card – and avoid the surprise of finding out that you actually spent more than you should when your credit statement comes in.
Instead of buying everyone dinner, suggest a potluck meal where everyone is encouraged to bring a dish.
Not only will it be an enjoyable time that everyone can remember, it will also save you from having to cover the expenses of a multi-course meal all by yourself!
And remember, the most valuable gift you can give is time together!
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