Christmas is fast approaching and the holiday season is a time when many people overextend themselves. They may purchase things on credit cards or just spend too much money in general. It is important to plan now so that you do not end up overspending this holiday season. Here are five tips to help you stay in budget over the holidays.
1) Begin with a list and stick to it. You may want to add two or three miscellaneous presents for those unexpected occasions or gifts. You should set a limit on how much you can spend on each person.
2) Begin shopping early. You have more time to find the perfect gift and to stay within your price range. Many people begin shopping for next year the day after Christmas. A well thought out present means more than something that is bought last minute, no matter what the price. You can add personalized touches when you buy it early.
3) Pay cash for everything that you buy. This will help you to stick to your budget. It really helps to be handling the paper money versus spending on plastic or with a credit card. This will also ensure that you are not paying for your Christmas purchases in July.
4) Just because it has been marked on sale, does not mean that you are getting the lowest price on the item. Pay attention sales and other stores’ prices. You may find that one store marks up their prices so that when they run a sale, the price is comparable to another item found at a different store at normal price.
5) Start saving for next Christmas in January. This will make next Christmas much more enjoyable. You can spread the cost of Christmas out over the next year. You can also purchase items throughout the year with that money and you will likely spend less then you have in the past.
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