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3 Tips for Holiday Finances

3 Tips for Holiday Finances

| November 02, 2016

As we start to approach the Holiday season, it’s easy to get excited about great food, gathering with friends and family, and celebrating the ending of another year. However, it’s also easy to let all that Holiday cheer steer us away from our financial goals. While the following tips aren’t ground-breaking, it’s good to keep them in mind when doing our shopping for the season.

Set a realistic budget.

As simple as this sounds, it’s amazing how many people skip this very important step. Setting a budget is key for keeping your wallet happy during the Holidays. Whether you set a total budget and divide it by the number of people on your list, or you set a budget per individual, is up to you, but just remember to stick to it!

When setting your budget, make sure to keep in mind that your energy bill is probably going to go up, and that all of your other bills aren’t going to disappear! This might mean you need to cut back on your morning latté, or carpool with colleagues to save extra money where you can.

Get creative & make some gifts.

This is especially helpful if you have a large list like employees, teachers, or coworkers. Instead of purchasing expensive gift baskets, you can easily make everyone on your list a meaningful gift.

Even if you’re not a generally “crafty” person, Pinterest is a great way to look up easy, inexpensive gifts that you can make for anyone. Mason jar crafts tend to be easy, and you can buy the supplies in bulk – saving you money!

After this season, start saving for next year!

Now that you know about how much you spend for the Holidays, start saving for next year. It may seem like you have all the time in the world to save up for your Holiday shopping, but just think about how fast this past year went! All it takes is setting aside $10 extra out of every paycheck. You could also make a change jar that you don’t break into until you’re ready to start shopping! These tiny changes can make a huge dent in your Holiday spending!

Good luck on checking off all the items on your list, and have a wonderful Holiday season!

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