The holidays are right around the corner and many people are going to spend more than they can afford. Credit cards could be maxed out and savings accounts cleared – all so that people can have the best Christmas yet.
But does spending more money make the holidays better? No. In fact, it makes the holidays more stressful. Let’s take a closer look at how to keep your finances on track during the holidays.
Set a Budget
You need to sit down and create a holiday budget that makes sense for your income. This means a budget that will not require touching credit cards. If you have a savings account set up specifically for the holidays, it’s okay to dip into that account. However, it is not okay to dip into your emergency fund. Set an overall budget and then set amounts for different things, such as food, entertainment, gifts, decorations, cards and wrapping papers, etc.
Start Shopping Early
Don’t wait until the last minute to start shopping. You can find great deals before Black Friday and Cyber Monday roll around. Don’t forget the value of the clearance section. You can usually find some amazing deals. Also keep your eyes on sales papers. You never know when a store is going to have a great price on something that would make a great Christmas gift.
Use What You Have
It’s true that each year brings new and pretty holiday decorations. However, there’s a good chance you have more decorations than you know what to do with. Use what you have on hand to decorate your home. If you want a new color scheme, consider using spray paint to update your current decorations. If you want to purchase something new, make sure to only purchase items you absolutely love.
Purchase Cards and Gift Bags at the Dollar Tree
Did you know that the Dollar Tree has amazing deals on holidays cards and gift bags? You can find amazing gift bags that would cost $5 and up at other stores for only a dollar. You want to make sure to hit the store as soon as they start putting out the Christmas stuff to find the best selection. You can even find giant gift bags that cost $10 or more at other stores still for only $1.
Shop the Grocery Sales
You can save so much money by shopping the grocery sales starting in November. You’ll be able to find all the baking and holiday cooking ingredients you’ll need at great prices. You’ll even be able to get your turkey, ham, or standing rib roast on sale. If you use coupons, you can save even more money.
You don’t have to go broke to celebrate the holidays. There are so many easy things you can do to keep your finances on track during the holidays.
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