Tips to Avoid Overspending During the Holidays

It’s that time of the year again when Christmas is fast approaching, commercials for gift buying ideas are at an all time high, and sale signs are popping up everywhere, including your inbox.

Here are some tips to help you stay on track with your holiday spending so you don’t start the new year off with stress and panic over those dreadful credit card and bank statements:

1. Set a budget and stick to it. Don’t spend beyond your means

2. Use cash only. It’s easier to overspend when you use debit and credit cards because you lose track of your spending. Put a set amount in your wallet and spend accordingly. Once it’s gone, it’s gone!

3. Don’t let the flashy sale signs drag you down the rabbit hole. Just because it’s on sale doesn’t mean it’s a good deal

4. Avoid the places you know you will be tempted to spend more.

5. Limit the parties you will attend. Pick your favourites and skip the rest. All those finger foods, bottles of wine, new party dresses can get costly.

6. Forget about outdoing the “Joneses”. Who cares if your sister-in-law is getting a great designer bag, your co-worker has the latest techno gadget on the market, or your neighbour is raving about that new gym equipment Santa is bringing for her. Let them wrack up their credit cards and you keep your head in the “staying out of debt” game. Refer to next tip….

7. Remember, it’s just STUFF. If you don’t need it, don’t buy it.

8. The most important thing….remember the REAL reason for the holidays. Spend time with your family members and friends without commercializing the occasion. JESUS IS THE REASON FOR THE SEASON

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