Carving a Holiday Budget
The holidays are a time for giving, but often people can be a little overgenerous during this time of year and later find themselves in financial trouble. According to a survey by Country Financial 32 percent are feeling the greatest stress around holiday finances.
Here are our top tips for saving money during the holiday season:
- Create a Holiday Budget
- Monthly Income – Monthly Expenses = Your Holiday Budget
- Make a list of everyone you will buy for and how much you will spend on each person, then stick to it!
- Also, consider setting a gift budget for the entire year to better anticipate costs and save for additional holiday spending monthly. This will allow for smoother month-to-month budget tracking.
- Pay with Cash
- When you pay with cash, you can get a better handle on how much you are spending. You are forced to stick to your budget because you can’t spend cash you don’t have!
- Pay with Gift Cards
- There are websites and stores where you can purchase gift cards at a discounted price. Shop with them and you are automatically saving money. Shop for items on sale or at a discount store and save even more money!
