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Please note that your credit card will always play an important role during holidays.
So, to help you out this holiday season, we have prepared a list to keep your spending under check.
Before you start splurging on your holiday gifts, set a budget on how much you are going to spend. The budget is important to keep your spending under control. Hence, it should be friendly to your pocket.
You must know by now that an increase in the budget doesn’t equal an increase in income. In fact, spending more than you earn will only lead you to credit card debt.
Being selective is a plus when it comes to holiday spending. Stick to the list. Be headstrong and avoid straying from the list.
When you are in a festive mood, it becomes quite difficult to stop yourself from splurging on things that catch your eye. But that is exactly what you should do. Resist any and every temptation. Avoid impulse shopping and say ‘NO’ to binge.
Today, you can look for anything online and that is what you should do before you start with the list. Looks for the items, that are on the list, online and compare their prices.
Save some money wherever possible by comparing the prices online. You can also call the local retailers and check the prices with them and save gas money by doing so.
Gone are the days when coupons used to be available through newspapers or direct mails. Now, customers are offered coupons via emails and during checkouts, etc.
Make use of those coupons. The more coupons you have, the better are the chances of saving some money through discounts.
If you want to stick to the budget that you have set, leave your credit cards at home. Make your payments with cash.
Paying with cash will let you stick to the budget. Meanwhile, nothing will stop you from splurging when you have your travel credit cards with you.
Carrying cash rather than a credit card is a good way of sticking to the budget when going on holiday shopping.
This list is especially important if you want to cut down on your spending. Gifting should be a joy, not a chore. Therefore, keep the people important to you on the list and remove the names of mere acquaintances.
Make the list as narrow as possible. Spend for those you are thankful for having in your life.
Getting started on the budget for the following year is a good idea. Make notes of things that your family and friends wish to own and save money for it.
Start saving for the gifts you are planning to buy for the next holiday in advance. Or since you might have no idea what to buy, start saving for it at least. This way you won’t have to rely on your credit cards and shop without a worry.
If you are one to splurge during holidays, then you better close your fist this holiday season. Today’s spending will have an effect on your bill tomorrow.
Keeping a track on your finances will help you put a tab on your spending too.
Set a goal for the future. Meet with financial advisors if you have to. Discuss your income, options and budgets. Know that spending on a financial advisor is never a waste. In fact, they will help you save and give you ideas on how to stop draining your finances.
We get that financial situation is a major concern but don’t let that ruin your holidays. Buy gifts that are of sentimental values, rather than monetary. Enjoy your time with your family and let this holiday be a holiday.
So, follow the tips listed above and you won’t have a reason to cry when you get the bill at the end of the cycle.