With the happiness of the holidays, tends to come some stress with our financial situations. You may have had previous problems with overspending and debt when it comes to Christmas. This is understandable knowing that we have so many things we are responsible for buying. There are many ways to prevent overspending when the holidays roll around. Here are some tips on how to stay within budget this Christmas and not put yourself further into debt.
A surefire way to make sure you don’t overdo it this year is by setting a limit. Create a budget for your shopping. Write down each person that you are going to buy for and how much you would like to spend. When shopping, always keep this list with you to check and make sure you aren't overspending. You can even write down your budget in the notes app on your cell phone so that you know you'll always have your list on you.
Don’t forget, there is no holiday for bills. They will still be due each month and must be paid on time. When you're writing your budget, you need to keep in mind how much money you have coming in. It is also important to keep track of how much you have to pay in bills, and when they are due. Try to figure out an appropriate amount to spend each paycheck. This amount should be thought of while keeping your expenses in mind as well.
Couponing has become a big trend in the past few years. And it's simpler than it sounds. There are hundreds of websites that offer coupons and promo codes for both in-store and online purchases. Using coupons, even if they are only a small percentage off of your total, can really save you big money altogether. There are even sites, like RetailMeNot that have a search bar where you can type in any store to look for available coupons. These coupons can be both in-store and online. You'll be glad you used these when you check your bank account after your Christmas shopping is done!
Believe it or not, family and friends appreciate thoughtful gifts more than anything else. Buying presents for Christmas isn't about how much money you spend, but rather how much thought goes into the present. If you have many people to buy for this year and just can't afford it all, you may want to make some presents yourself. This shows thought, effort, and appreciation. One thing that people always love is desserts. You can make holiday cookies and pastry trays to bring over friends and families homes as a present. It’s a great way to show the people you love that even though you are strapped for cash, you are still thinking of them!
If you have already overspent and are having trouble paying your bills on time, you may want to look into another option. A payday loan can help you with this situation. It's basically an advance on your paycheck that will only give you money that you know you have coming in with your next check. This will allow you to pay your bills on time without putting yourself further into debt. Happy saving and happy holidays!