Managing Holiday Spending

Managing Holiday Spending

By Gradia A. McKinney
Large Employer Relationship Manager & Marketing Manager

Holidays are a great reason to relax and spend time with family and friends. However, overspending during the holidays can make your favorite year-end gatherings stressful. Use these tips to help you manage spending so that you can focus more on enjoying the holiday season and less time stressing about your credit card balance.

    Make a gift list
  • Include family, friends, teachers, and those who provide service throughout the year. Be flexible and willing to cut the list to fit your established budget.
    • Make a budget and commit to sticking to it
    • List all the gifts and decorations you plan to buy, the parties you will attend and the travel expenses you anticipate. Set a limit and stick to that limit.
      • Compare prices
      • Compare online prices with brick and mortar store prices. (Don’t forget to include shipping prices from online stores)
        • Use coupons/coupon codes
        • Check sales flyers and search the web for coupon codes. Sites such as this one will search for coupons for you.
          • Give a thoughtful, personalized gift instead of an expensive store-bought one
          • Home baked goodies or custom, well-made arts and crafts make great gifts.
            • Use cash instead of your credit cards
            • Use credit cards wisely, if you must use them.
            • Make an online payment to your credit card company immediately after you make a purchase with a credit card. Subtract that amount from your established budget.
              • Start saving early
              • You will likely incur holiday expenses each year. Next year, start budgeting/saving earlier in the year.