Saving for the Holidays!

Oh, the holidays! It’s a time for giving, joy, and spending time with the ones that you love. Sometimes, the giving part can be a little more difficult that people would suspect. What do you do if your wallet is wearing thin, but you want to get everyone a great gift? We’ve got the answer for you!

1. Start your shopping months in advance. Many times we don’t think about the holiday season in the warmer months of the year. We’re more worried about getting those last summer projects done and having fun in the sun. However, if you start shopping earlier, you will be spreading out your holiday spending so your bank account isn’t taking the hit all at once.
2. Who do you really need to shop for? If you’re anything like me, you may want to shop for anyone and everyone in your life. If you simply can’t afford this, don’t feel obligated to! Write down the most important people in your life like your significant other, your parents, siblings, etc. Then, think about those who really make an impact on your life. Is it your best friend or that neighbor who mows your lawn in the summer? This will help you realistically decide who you want to get a gift for.
3. How much do I spend on who? After determining who you’re buying for, now decide how much you are going to spend on them. You may spend $100 on your spouse, and $50 on your parents. You certainly don’t have to spend the same amount on each person!
4. Give yourself a budget. If you don’t give yourself a limit, you could spend more than you can afford. Approximately 13.6 million American’s are still in debt because of last year’s Christmas spending! Don’t let that be you. Determine how much you have to spend on your loved ones, and stick to that budget limit. If your limit is very small, DIY gifts are great too! Some people appreciate handmade gifts more because they come from the heart.
5. Write it down! Get a list of everyone you’re buying for and put down what you plan on getting them. This will help you see what you need to get and if the items are realistic for your budget. If not, reconsider.

Holiday shopping can be stressful, but with these tips you’ll be on your way to have a smooth and debt free holiday this year. Remember that Christmas isn’t all about giving gifts! Enjoy time with your family, be kind to others, and celebrate the holiday season!