It’s that time of year again!
It’s the season where budgets go out the window and the line between wants and needs become blurred. Before you join this spending frenzy, here are a few tips to keep you on track with your financial goals:
- Have a plan: know what you want to buy for each person on your Christmas list (including yourself!) Don’t get seduced by the seemingly amazing deals you see in advertisements. Their sole purpose is to separate you from your money…however, before you purchase anything on your list it is essential that you flip through all the advertisements you can find to get the best deal!
- Pace yourself: Start shopping early and spread your purchases out over several weeks. Buying everything at once may leave you stressed and feeling broke, whereas spreading your purchases minimizes the impact to your budget (and sanity). Also, waiting until the last minute creates an unnecessary rush, which may lead to making poor financial decisions or buying items that you don’t truly love.
- Never pay full price: Between Black Friday, Cyber Monday, and weekly “Door Buster” sales, there is no reason to pay full price. On anything. At all.
- Repurpose what you can: Everyone has old gift bags, boxes, and tissue paper around the house, so there’s no need to buy those things. Likewise, everyone remembers being in elementary school art class making holiday ornaments and decorations out of everyday materials. Why not relive those days and make something unique and meaningful this holiday season? (This works especially well with kids!)
When do you get most of your holiday shopping done? Do you prefer the rush of in-store shopping or the comfort of online? What are your best budget-friendly gift or decoration ideas? Let me know!