How To Reduce Holiday Spending

…And Make Christmas More Nice Than Naughty.

More than 174 million Americans have a holiday spending of $335.47 in average, and “according to the National Retail Federation, Americans reported that they spent on average $1,047.83 during the holiday season. (investopedia.com)

If Santa was going to put you on the financial habits list; where would you be at?  the Nice or the Naughty?

Use these 2 simple ideas to help you reduce your spending at this time of year, and keep the rest of your holiday parties more nice than naughty.

1. Plan Your Holiday Season.

Start by deciding where you will spend the holidays.  If you will have any holiday travel you will need to prepare for travel costs. 
"With the cost of travel tickets, hotels, and rental cars, holiday travel can quickly become a serious expense. "(moneycrashers.com)

If you are staying home, make sure you create a decorating plan before you even spend money on decorations costs. Also research gift ideas ahead of shopping the perfect gift.

When it comes to your present list; it’s a great idea to make your own “nice and naughty” list to limit the number of friends and relatives who will receive a present.  Focus on getting a more “thoughtful gift” instead of the most Expensive Gift.  Santa Klaus needs presents for the whole world no matter how much it costs, but you don’t.  Consider a Gift Exchange between your list, or playing Secret Santa.  It can be fun and inexpensive.

The fact is that proper planning will provide you and your family a merry, happy, and “Nice” holiday season.

2. Set Holiday Spending Limits

In 2019, Americans budgeted, on average, $8461 for presents. That can be a tough bill to face in the new year. (bettermoneyhabits.bankofamerica.com)

To avoid this tough bill; decide in advance how much you will spend on gifts. Yes, you must stick to a budget. At this time of year, it is especially important to be disciplined with your shopping list.  Holiday expenses can leave a bittersweet feeling coming to January credit card bill.  Have a firm plan on what you can spend before you visit any stores to purchase your holiday gifts. A holiday budget will help you avoid impulse purchases that can deplete your cash. 

How to keep your holiday spending on budget?

Make sure you don’t over spend, take a look sales offers, and comparison shop between stores.  This will also help you avoid impulse buys, and debt headache.  Holiday shopping should not make your finances naughty.

Money savings doesn’t have to make your holiday spirit “naughty”, and proper planning will definitely make your hooliday cheer more “nice” than naughty!

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