It’s difficult to enjoy the holiday season when you’re pinching pennies and worried about money. However, it is possible to control your spending urges by being organized and going into holiday shopping with a set plan. Here is our compiled list of 3 budgeting tips to take some of the stress out of the holiday season.
1.Plan Ahead & Develop A Realistic Budget
Before you hit the stores, make a set list of who you will be shopping for this holiday season. Keep your gift list limited to close friends and family. Heartfelt season’s greetings for coworkers and acquaintances will suffice. Furthermore, figuring out how much you want to spend on each person before you start shopping is critical.
2. Monitor Other Costs
We often focus on gift-giving and forget about the other holiday-related costs that put a significant dent in your wallet. Costs beyond gifts that should be included in your budget include: postage, gift wrap, decorations, greeting cards, food/drinks, travel expenses, holiday donation, shopping costs like gas and parking, ect.
3. Shop early, Shop Smart
The holiday season is not the time for you to relinquish your spectacular procrastination skills. Start looking for possible gift ideas ahead of time. Make sure you browse what is available online first, as well as download shopping apps that allow you to compare prices before buying. Moreover, pay cash for gifts, rather than a credit card to avoid spending twice as much as you intended. However, if you must use your credit card, make sure to think twice about what you can afford to pay back in January.
Ultimately, you don’t have to go into debt to have a cheerful and memorable holiday season. Keeping your finances under control will allow you to focus you attention on family and friends. William Wolske, CPA wants to be sure you are making good money decisions. Schedule your free consultation today to receive assistance when it comes to handling your finances and money saving goals. Contact our offices at 843.706.9644 or visit https://blufftoncpa.net/contact-us/. We’ll go through your financial situation together, so you can have a financially happy new year!