We could always use a few holiday budgeting tips, as people tend to overspend in all areas. The kids want certain things, we want to provide nice gifts, food, and we sometimes spend with guilt.
But there are ways to not go into debt every year doing it. You shouldn’t still be paying for Christmas in the middle of summer, but unfortunately, many people find themselves in that predicament.
It’s so easy to get into debt around the holidays, especially with younger kids in the house. Here are some helpful budgeting tips.
Take a look at your finances and decide how much you are going to spend. Factor in everything from food to travel and don’t forget about all the monthly bills, as well.
Make a realistic budget and stick to it. Prioritize everything that you will need to spend on and decide what is most important. You can also cut back on certain expenses you have every day, like expensive coffee and bagels.
Once you have your list of gifts you want to buy, check all the prices. It may be more convenient to get everything at the closest department store, but it is not always the best bargain.
Comparing prices is a helpful holiday budgeting tip, as some stores charge more for items they advertise during the holidays. You should check the prices of everything and then plan your route to finding them all.
Kids all want electronics, and you can still give them those if they don’t have to have the latest and greatest. Many people trade in their laptops, phones, and games as soon as the newest version is released.
A good electronics store that sells second-hand items will make sure they all work, and they often still come with a warranty. Your younger kids likely won’t even know, and they will be just as happy.
A great holiday budgeting tip is to cut your list down. You don’t need to buy something for everyone in your life. Distant cousins and workmates shouldn’t require much from your budget.
A thoughtful card might be nice for the secondary people on your list. Just because your aunt is coming for Christmas doesn’t mean she expects a gift.
You don’t need to be very crafty to make a nice gift for someone. Get some nice decorative boxes, tin or sturdy cardboard and buy bulk sweets. You can make up a bunch of boxes of mixed candy and chocolate.
These are perfect for the kid’s teachers, the mail carrier, those surprise guests who show up just in case. Put colourful tissue paper inside and they make a nice gift but will also stay fresh for a long time if you don’t use them.
If you start thinking about the items you need to buy, you can avoid last-minute price-hikes. It also saves a lot of stress. Every time you are out shopping, grab a few items you will need for the holidays, clothes, gifts, food, etc.
If you can get a lot of the shopping done well before the due date, you can actually save a little money. Some things get more expensive closer to the big day and may even not be available.
It’s never as easy as we want it to be. If you find yourself stuck and need some fast cash, you can get a fast, short-term loan from Lending Bear. We understand that emergencies happen.