'Tis the season for holiday
shopping! Presents, family meals and decorations all put a
strain on your wallet. Creating a holiday budget and
sticking to it can help keep you on track. Here are some
budgeting tips for the busiest shopping season of the
year:
Don't just budget; track your
spending, too!
While setting a budget is a good
first step, it won't help you save money in the long run
if you don't track your spending to see if you stuck
with the original budget. List your spending
categories, such as gifts (be sure to list them), decorations,
holiday cards, gift wrapping supplies, etc. Set
practical spending goals for each of these categories, and then
be sure to track how much you actually spend.
Get the inside track for sales.
You can get access to special deals
and sales by following retailers on social media.
Whether you use Facebook, Twitter or simply
subscribe to an email newsletter, many retailers will
thank you for your loyalty with discounts and coupons
that are not offered to the general public.
DIY (Handmade gifts)
If you are a crafty person or enjoy making things, it doesn't mean your gift won't be as meaningful! People love getting personalized, handcrafted gifts. Think about your talents and how you can utilize them. Are you into photography? Find one of you best photos (maybe a flower or scenery shot) and create wall decor with it. Do you love woodworking? Try creating decor by painting a quote on a board or create a bird house or shelf or stool. Enjoy sewing? A personalized bag or apron or throw pillows are great gifts. Baking or cooking? Brownie mix, cookie mix, and soup mix are especially good for those who might live on their own or don't enjoy cooking. Layer them in a decorated mason jar for a festive look!
Avoid impulse buys.
Holiday sales can be especially
tempting (Black Friday and Cyber Monday for
example), but the fantastic deals on these days can
also lead to impulse buys. If an item isn't on the list
of planned purchases from your budget, wait at least 24
hours. After you've slept on it, if you still want the
unplanned item, see if you can work it into the budget
without straining your other financial obligations.
Save your budget for next year.
After the holidays, don't throw away
this year's holiday budget. Save it and use it
as a model for next year's shopping. Make notes of where
you deviated from the original budget, so that
next year's is more accurate. You can also use the gift
lists from year to year. If you know well in advance
what items you want to buy, you can shop for
them during the season when they're
cheapest, rather than during the holidays.
BONUS TIPS!
If you are stuck trying to think of the right gift to buy someone, here are two ideas to try.
Think of any hobbies that person has or what he/she enjoys doing. Then, just think about the hobbies one at a time and write down anything that would accompany the hobby. For example, if your friend loves hiking, your list might include water bottle, Nike socks, fit bit, backpack, cliff bars, homemade protein bars, headbands, and workout clothing. If you can't think of anything, try searching the Internet for ideas. For example, type 'hiking accessories' in your search bar and see what comes up!
If you have Pinterest, find your friends on there and see what they have pinned. It's like a personalized wish list right there for you to choose from!
