12 Tips to Help Your Holiday Budgeting

28
Nov

12 Tips to Help Your Holiday Budgeting

Holiday spending and holiday budgeting go hand-in-hand. Holiday spending doesn’t just include gifts. Holiday spending on food, decorations, travel and more during the holiday season may often increase your monthly spending.

Don’t let the holiday season take a toll on your wallet and avoid a New Year’s Day debt hangover by using these twelve tips when you begin your holiday budgeting:

Tip #1

Determine an amount you feel comfortable spending this holiday season, then stick to it!

Tip #2

Make a list of everyone you’d like to buy gifts for and assign a dollar amount to each. Use your list to keep your spending on track with your budget.

Tip #3

Make gifts to save money and show the recipient what they mean to you by giving them something unique

Tip #4

On tip for holiday budgeting starts way before the holidays. Save ahead of the holiday season and utilize your bank’s automatic transfers to set up a holiday savings account.

Tip #5

If you plan to use credit, consider using a credit card that offers cash back or rewards. You may gain additional benefits or rewards to help lower the cost of spending.

Tip #6

Don’t settle for the first price tag you see when shopping for specific items. Research other local stores or search online to see if you can find a lower price.

Tip #7

Watch for sales or price cuts instead of waiting for Black Friday or Cyber Monday. Many retailers offer discounted items ahead of these one-day sales events.

Tip #8

Buying last year’s edition of a big-ticket item may save you money since retailers discount big-ticket items at the end of the year to make room for newer models.

Tip #9

Watch for travel specials on airlines or trains, or determine the cost of driving to your destination. Purchase tickets early, book hotels early, and set aside money ahead of the holiday travel season.

Tip #10

Shop for groceries that can be frozen or dry stored when they are on sale versus last minute. Consider using off-brand versus name-brand products if they will save you money.

Tip #11

Reuse decorations, extra cards, mismatched paper goods, and gift wraps to create a unique look and save. You can also check thrift stores for holiday items at a reduced cost or consider swapping these items with a friend to save even more.

Tip #12

The final holiday budgeting tip is. Don’t wait until the last minute, as rushing may lead to overspending.

SWG 2444322-0922a The sources used to prepare this material are believed to be true, accurate and reliable, but are not guaranteed. This information is provided as general information and is not intended to be specific financial or tax guidance. When you access a link you are leaving our website and assume total responsibility for your use of the website you are linking to. We make no representation as to the completeness or accuracy of information provided at this website. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, websites, information and programs made available through this website.

At Samander Financial we are very hopeful for an opportunity to discuss your retirement strategy. Then you can learn firsthand how we can be of benefit. We look forward to working with you. We will help you lower your stress over your retirement years. Contact us today to schedule your first appointment.