How To Maintain Financial Responsibility during the Holidays

Have you ever wished you could genuinely enjoy the holidays without the worry that you don’t have enough money for all of the gifts and get togethers that will inevitably pop up?  Or that you won’t leverage the holiday season with credit cards that you could spend most of next year trying to pay off?  Let’s discuss some of the best things you can do to keep this holiday season under control while enjoying it at the same time for what it truly is.

black friday sale text on black background
Photo by Max Fischer on
  1. Set Your Limits:

The biggest stressor over the holidays is over spending, which is why you need to figure out how much you can spend before you make your first purchase.  In an ideal world, you wouldn’t be putting any money on credit cards to make it through the holiday.  If you can’t find a way to make that happen, you should only charge what you feel you can pay off completely by the end of February.

2. Make a list of your expected spending:

This includes who you will buy gifts for, what events and get-togethers you already have planned and an expected amount you plan on spending.  When in doubt, over estimate the amount you think each one of them will cost as most people tend to underestimate spending this time of year.  Don’t forget the extra expenses such as wrapping paper, cards, parking etc. these expenses add up quickly!

3. Do not get caught up in the sales:

There are sales everywhere you look around the holiday season – these are budget killers because if you buy something on sale that is not on your list, you will now be going over budget.  You should FOR SURE be on the lookout for sales for the items ON YOUR LIST as this can help save money.  Do not become a victim to the sale this holiday season!

4. Do not wait for the last minute!!

The earlier you can get your list created the earlier you can keep your eyes out for sales.  Another thing that can sometimes happen to people who wait until the last minute is that sometimes things are not available, or they are hard to find.  When this happens it is easy to overspend to compensate for the failure to find what you were looking for.

The one thing to always remember is that the holidays are supposed to be a time for caring, giving, joy and happiness.  Stay within your means, have a plan and stick to it – if you are able to do this you will be able to enjoy the true meaning of the season and you won’t feel exhausted when it’s over.  Best of luck this year and Happy Holidays!!

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