The holiday season is a time for giving, and giving, and giving. That being said, it is incredibly easy to get into debt during the holidays. There are so many great products that are geared for the people in your life and often times it is difficult to reign in your spending if the items are great and you have a lot of people to buy for. There are several ways to avoid the after the holiday shock when you get your bank or credit card statement though. Many of the ways to avoid debt involve directly the actual presents that you buy.
First, if you want to avoid spending lots of money avoid paying full price. There are tons of sales and coupons out there that are geared specifically toward lowering the costs of holiday presents and make the holidays affordable. By searching the internet for the best prices or finding sales you can make your bills considerably less. With many online sites it is possible to find coupon codes and special sales to help and reduce your spending.
Second, avoid holiday financing options. There is little to be gained from holiday financing options. The most that you gain from this type of financing that is highly prevalent during the holidays is accumulate debt that you will have to pay off later in the year. By avoiding this type of financing to begin with you will reduce the likelihood that you will have this type of debt later. There are plenty of opportunities to finance things during the year, by building up your financing all in one season you are setting yourself up for failure.
Third, budget; this is the most important part of holiday spending. By allotting yourself a certain amount of money at the beginning of the season you force yourself to look closely at what you are buying in regards to how much money you have. If you do not give yourself the option of financing and credit you make it less likely that you will be able to build up debt. If you create a rigid budget when you first start your holidays you can dole out presents according to the type of friend of family member that you are buying for making it easier to buy presents without spending lots of money.
Lastly, another solution is to offer alternatives to buying expensive presents for everyone. Try asking a bunch of friends to come together and buy one present for one person whose name they have drawn from a hat. Another solution is to set a limit for each gift for each person. If you get together with the person that you are buying presents for you can come to a consensus on how much money the both of you want to spend which will likely make for less after the holiday debt. You can also make presents or offer presents that are small for everyone so that you do not have lots of large presents. Do not feel bound to buy someone a large present just because they have bought you one in the past, by only spending what you have you can greatly limit your after the holiday debt.