If you are like most Americans, you spend more than you'd like during the holidays. With family gifts and work office parties, the debt just seems to continuously rack up. Consumer Credit Counseling Services of Mobile has some tips for you to find ways to save this year.
1. Budget your spending
If you develop a budget of how much you would like to spend on each person or event, you can have a guideline to stick to before making purchases.
2. Keep track of what you spend.
Write down what is spent for each person so you can see how close you are sticking to your budget or if you are going overboard with each gift.
3. Don't buy any extra items, not on your list.
If something new arises you hadn't planned on spending, just say no you can't or sit one out.
4. Have your family draw names, Secret Santa style.
Instead of buying each person a gift, secretly draw names and then you only have to purchase one gift.
5. Cut back on the holiday travel.
It can become a yearly tradition to go see a certain family member or go to a certain spot. Maybe this year skip and try something new to cut down on travel costs.
6. Be wary of holiday sales.
Just because an advertisement boasts a great deal, doesn't mean it is one. Price shop and compare before purchasing, especially on big-ticket items.
7. Be ready to say enough
Know your limit on purchasing and be prepared to stop when you've reached your spending limit.
8. Start purchasing earlier in the year
Accumulating gifts all at one time can be taxing on anyone. Shop throughout the year so you can spread out the purchases.
We hope these tips can help you this year and years to come. If you need help setting a budget or with credit card debt, give our certified credit counselors a call at 251-602-0011.