This may be the most wonderful time of the year, but a holiday hangover will hit many households hard when Christmas debts come due. Fortunately, it's not too late to prepare for a January that's a little more jolly with these nine smart ways to enjoy the season.
It's The Thought That Counts
During the holidays, many of us spend time with family members we rarely see. Sadly, there's sometimes a reason we don't see them more frequently. Perhaps we want to compete with or impress them, so we buy them a high-end gift for all the wrong reasons.
Instead of an overly pricey present, try putting in the time to find a less expensive but genuinely thoughtful or appropriate gift. That can be just as impressive.
Think Before You Buy
The pressure to parent perfectly is there year-round. Still, during the holiday season, you'll be exposed to even more perfect parents with their adorable families, smiling down from billboards or out of TV commercials.
Whether you have a toddler who wants every toy in the store or a teenager who needs the latest gadget, think before you buy. If you know your small child will spend more time playing with the wrapping than the toy, reign in your spending.
Suggest to your teenagers that they ask for cash or appropriate gift cards to put towards their desired gadget. Remind them the holiday season is a great time to get some part-time work in retail or pick up some extra babysitting jobs to help towards their new purchases. Then remind them a few more times – they have very selective hearing.
Avoid Online Overindulgence
The convenience of online shopping is a tremendous advantage for Americans interested in avoiding shopping mall madness. After all, how else could we shop late at night in our pajamas?
This ease of access also causes us to overspend, especially as we're using credit cards or PayPal, which feels like something other than real money.
If you shop online, use technology to help you stick to your budget. Many sites will let you search by price range or filter search results, starting with the lowest price.
Shop Sober
A small but significant issue with online holiday shopping is that it may occur late at night during the holiday season. If you're like me, you've occasionally overspent simply because you mixed holiday shopping with a glass of wine or two. Try to avoid shopping under the influence if you want to save this holiday season.
Be Mindful of Mind Games
Stores know a lot about using psychological tricks to encourage customers to overspend. During the holiday season, they go into overdrive.
Everything from the pricing schemes to the colors in the holiday-themed display encourages you to spend more. Resist their sneaky sales triggers with all your might.
Don't Gorge on Groceries
If we waste food at other times of the year, it gets worse over the holiday season. An oversized turkey with all the trimmings and extra side dishes makes for a picture-perfect Instagram post.
But unless you're an influencer paid to promote your culinary Christmas creations, right-size your helpings for the size of your guest list, or at least have a plan in place to freeze or reuse the leftovers.
Tune Out Party Season Propaganda
You've probably noticed magazine articles this time of year suggesting we all need new outfits, fresh make-up, and full-body makeovers. Nearby beauty salons and spas encourage us to shop locally and pay them a visit, insisting we need to prep up to bare all this holiday season.
On the contrary, many of us live in a four-season climate. It's cold outside, and I don't plan on baring anything. I have more than enough outfits for the few parties I'll be attending. My existing make-up products will suffice.
Consume Responsibly
It's easy to overspend when it seems like the whole of humanity is setting a bad example. Purchases extravagant enough to make us feel guilty at any other time slip by because everybody's doing it.
We even justify our spending by telling ourselves we might as well all be broke by the New Year because none of our friends will have any money to go out in January anyway. Focus on what the holidays really mean to you and distance yourself from extravagant consumerism.
Set a Charitable Giving Budget
With many of us overspending on ourselves and our families, it's not surprising that every charity in the world uses the holidays to remind us of those less fortunate. While giving to charity is great, it should be part of your planned budget like anything else. Give what you can afford during the holiday season, just as you would any other time.
Start The New Year With No Financial Fear
Holiday spending leaves many of us feeling more stressed. We tell ourselves it's inevitable, but it's not really.
Knowing why we overspend can be the first step towards sticking to a sensible seasonal budget. These nine tips will ensure your holidays are merry and bright, with enough left in your wallet to enjoy the new year without credit card fright.
This article was produced by Wealthtender and syndicated by Wealth of Geeks.
source https://wealthofgeeks.com/holiday-spending-tips/
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