Everybody loves saving money, so this year, set a budget when it comes to shopping for Christmas.Follow these steps to make sure you stay on track with your finances this Christmas. This guide will tell you how to do it.
But It Was So Cheap
Try not to get caught up in all of the sales you see. Just because an item is a possible good deal, it does not mean it will be a good deal for you. Think about who might need the item, and if it will be a good gift for someone you know. Do not buy an item just because it is on sale. It is an easy trap to fall into.
The Extras Add Up
Try to think about all the extras that are needed at Christmas time and work them into your budget. You are going to need extra batteries, Christmas cards, and gift wrap. All of these items can add up to a pretty penny and could eat up your budget.
Do Not Rely On Credit
On average, a consumer who shops with a credit card will spend roughly, 35% more than a shopper with cash. When you have cash, you are more aware of how much money you have. If you do purchase on a credit card, make sure you can pay it off at the end of the month, or the price of that cheap gift will keep on rising.
Only Spend What You Can Afford
Always try to spend within your means. It is very easy to spend a huge chunk of change on a gift when you are trying to impress someone. Remember your budget, and stick to it. Just because a gift for a loved one might be cheaper than you might have purchased in the past, that does not make it a bad gift. Remember it is the thought that counts.
Always Shop Around
Always do research before heading out the door. The internet is a great place to read about products. Find out if the item you want to purchase is good, then before you head out, look online to see if you can find a better price. You might be surprised.
Keep a List – Check It Twice
On a piece of paper, or in a spreadsheet, write down everyone you want to buy a gift for. Next to their name, write down the gift ideas you have and what your spending limit is. When you have a gift purchased for someone, cross them off of the list. This is a great way to keep track of, who you have purchased for, and how much money you have spent.
Staying within your budget can be done. Set it, and don’t forget it. Follow the steps above and you will be off to a good start. Happy holidays.