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Controlling Your Holiday Spending

 It’s easy to go overboard when shopping for holiday gifts, but the fallout from seasonal overspending can last all year. Follow this helpful advice to get control of your holiday spending, before it begins to control you:

  • Develop a budget and stick to it. Create a list of people you plan on buying gifts for and calculate how much you’d like to spend on each person.
  • Set guidelines with friends and family. If you’re unable to purchase gifts this holiday season, discuss it with your peers and family members. There’s often pressure to buy the best gifts for your loved ones or match how much others spend. So, make sure to review your budget and choose what type of gift-giving best suits you! For instance, you could suggest a Secret Santa gift exchange or a white elephant to minimize the amount of presents you purchase.
  • Shop online. It’s convenient but can also save you money! Shopping through the internet makes it easy to compare prices, and many online retailers offer free or discounted shipping during the holiday season. This can prevent impulse purchases that distracts several holiday shoppers at malls and traditional retail stores.
  • Shop early. By developing your holiday budget and shopping list early in the year, it’s easier to take advantage of sales and discounted prices before the holiday rush.
  • Get creative! It’s the thought that counts, so why sweat your budget with expensive gifts? Homemade gifts are meaningful and inexpensive. Utilize your talents and interests when thinking about creative gift ideas. Do you enjoy crocheting? Make your loved ones a blanket or a sweater! Do you enjoy baking? Make their favorite holiday treat! You could even create a photo album full of special memories; or design coupons offering your time for tasks like housecleaning or washing their car.
  • Use credit wisely. Only charge as much as you can pay off when the bill arrives if you plan to use your credit card for holiday purchases. By paying your credit card balance in full each month, you won’t have to regret holiday overspending all year long. UNCLE offers several low-rate credit cards to meet your needs – call today to learn more or to apply.

Don’t spend the holidays stressed about overspending! Plan your budget, explore your options, and you’ll be able to relax and enjoy this special time of year.

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Rates shown are current as of February 3rd, 2023

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