The holidays are a time of year to be festive and give gifts to loved ones, but they can also be an event that leads us to overspend. Did you know 7 in 10 Americans say they overspend during the holiday season? According to a survey, 70% of Americans overspend during this season.
If you’re planning to spend less this holiday, here are 11 tips to help you do so.
Write it down
Write down your plans for the holiday season! Seriously, please write it down!
If you plan to spend any money on gifts, you must write it down. Likewise, if you are planning on traveling, write it down.
Write down a list and check it twice! 🙂 Write down your plans and any ideas you may have, anything that will help you stay focused and on budget.
When you write things down, it makes them more real and keeps you organized. In the middle of Christmas, shopping chaos goes back to what you have written down to remind you of what you are doing and bring you back on track.
What are the goals for this holiday season? What is the plan!
Budget for the Holidays
If you do not want to overspend money this holiday season, create a budget and follow it.
Does this word sound familiar?
You have to make sure that you budget your Christmas shopping spending. December is the biggest shopping season in this country. People shop!
That’s why we add money to a Christmas account to help us save money for this time of the year.
Having a budget will allow you to view where your hard-earned money is going and keep you from overspending cash on things you don’t need.
Budgeting is key to a successful financial goal. Need help with your budget? Check out these posts:
Look at the sales ads
Black Friday is not going to be the same. As you already know, people will buy online and avoid the chaos of shopping in-store.
Since 2020 changed the way we shop during the holiday, sales have started earlier than Thanksgiving. As a result, shopping will begin early, and finding the best deals will reduce your overspending.
We are seeing an early start to the holiday shopping season in mid-October. A survey found that 2 in 10 people will start to shop early.
Customers will avoid crowds and long lines, and the store will benefit from dealing with large last-minute crowds.
A result in large crowds results in a bigger expense for stores. However, during the Christmas shopping season, the payroll budget alone is very high. Reducing the number of customers and starting holiday sales earlier and online will keep this low cost.
Since deals are starting earlier this year, you can expect to continue to see deals after deals since retailers’ holiday shopping sales have expanded from the typical Black Friday, end of November, to mid-October.
Can you believe that retailers make more money during this time of the year than the rest of the year combined?
Sorry about that, the former retail manager in me came out.
Yes, you will find great deals during this time of the year, thanks to early online shopping giants Amazon. And you will get a feel on how much you need to save for the following holiday season.
Shop with a list
Yes, a shopping list to go with you every time you go shopping, even online shopping!
Now that you have seen the sales from looking at ads, make your list, create your budget, and head to the store.
Only shop the items that are on your list.
This will prevent you from making an impulse buy. What happens when you purchase something that is not on your list? You overspend. THANK YOU!
Avoid looking at deal websites
Looking at bargain sites will cause you to overspend your money during this Christmas season.
Just avoid them as much as possible.
Remember that though helpful, bargain sites are there to sell bargains.
If you feel tempted every time you see a deal pop up, skip looking at deal sites. This includes any bargain Facebook groups too!!!!
Delete all advertising emails
This might sound harsh to some of us, but you must hit the unsubscribe button on your favorite deal emails today.
Don’t open them and give in to temptation.
Around this time of the year, several emails that say they have crazy “Doorbuster Deals” will be sent just about every hour from all retailers. Either unsubscribe or delete them from your inbox.
Remember, this is the time of the year when everyone is selling just about everything because we consumers are in shopping mode.
Shop when there’s a crowd
Well, this was such a good tip, but with everything going on, I will say avoid the crowds! But if you can’t and want to deal with people during the holiday season, then all mean shop when it’s busy.
You think this is insane, but if you think about it, when the stores are busy, you will get irritated enough just to grab what you need and get out.
If you shop when the store is less crowded, you will take the time just to look around and give to temptation.
Remember when I mentioned that shopping online would be big this year? Well, take advantage of it.
Shopping online is the best way to stick to your budget and shopping list. It’s simple to shop around and find what you are looking for.
You don’t need to deal with traffic, the crowd, or the item not being stocked after driving all the way there.
That being said, DON’T GIVE TO TEMPTATION.
Online sites can easily be distracting with their ads and sales. So please stick to your list; it’s what I suggest you do.
Cut your Christmas list down
Instead of giving everyone on your list gifts, try and cut your list down.
Do you have to buy everyone’s gifts this year?
Be open about your financial situation and come up with an alternative.
Don’t feel guilty about how much you spend on others. Remember, buying material things is not what the season is really about.
Shop items that are off-season
To save money, look for popular items that are on clearance.
You will find tons of items on clearance, and sometimes promo codes will work with clearance items.
Swimsuits and sandals as Christmas gifts?
Summer will be coming soon, whether we like it or not.
Remember that tis the season to give!
With everything happening in today’s world, the best thing you can do is give.
Let’s be honest this year has affected many families financially, and many have lost loved ones.
Let’s help! Let’s give!
Why stress over buying gifts when this is the season to give.
Spend it with your family and make memories. Gifts are just material things.
Give the gift of love this season by donating your time and helping others. This gift is so rewarding and good for the soul.
I hope these helpful tips will prevent you from overspending your money this Christmas season.
Remember that only you can control your spending, and it’s not about material things but about spending time with family and creating memories.