Ready to start your holiday spending? Determine your expenses then follow a few simple tips to stay on track:
- Start with a list. Make a list of the people you need to buy a gift for. Then make a second list of the other planned holiday expenses – gas, hotel stays, meals out, gift wrapping and decorations.
- Set a spending budget and stick to it. Set a dollar limit per gift and avoid the temptation of spending more than you plan. Also set a budget for those additional expenses. As you shop and celebrate, make sure you keep your budget in mind.
- Shop around for the best price. Watch for sales – both online and in stores – including special deals on hotel stays if that’s part of your planned expenses. If you find an item on sale, ask other stores if they will price match.
- Avoid impulse purchases. It’s often easier said than done, but if something isn’t on your list, resist the urge to pick it up.
- Share expenses. If you can go in on a gift with someone else or split travel costs with family members, consider it a small inconvenience to staying on budget.
At times, you may find the holiday spirit running deep and wanting to go above and beyond to treat your family and friends. But don’t let that temporary feeling of goodwill derail your financial plans. Before spending this holiday season, be sure you think through your purchases and are comfortable with your decisions.
Learn more about our Holiday Loans.