Shawn Weera is combining his financial and consulting experience to help shoppers and consumers save some extra money this holiday season.
How To Curb Holiday Overspend
No one will argue that the holidays can be a pretty stressful time for all, financially speaking. There are decorations, expensive meals, gift demands, travel expenses and outfits for every social occasion ranging from family dinners to work functions to holiday sweater parties. All these obligations can have us all stretching the budget to its very limit or leave us spending completely beyond our means. As a financial professional and consultant, Shawn Weera would like to help individuals discover some small and easy ways to save a few dollars this holiday season to put towards their other financial needs with the start of the new year.
Take your credit card or cards and place them in a box. Wrap the box and only open it again after the holidays. Think of it as a gift to yourself. Make a concerted effort to work with cash only over the holidays. This might sound extreme or even a bit childish, however, it forces you to budget and strictly adhere to it while having a little fun. Work with what you have until the next paycheck.
Using your credit card to pay for gifts or your morning mocha, means you are spending money you do not essentially have. When you decide to work with cash only, it will curb you from frivolous spending. Set a budget and realistic limits so you will not be tempted to rack up credit bills. You will thank yourself later.
You don’t have to be a Super Santa
There is no reason you should buy gifts for everyone you’ve ever met. If you have 5 people on your gift list that are outside of your family circle, it may be too much and can add up quickly. Make your own version of the naughty and nice list. For example, you can look at the people on your gift list and cross off anyone that you have not had any contact with over the last six months or more.
In keeping with gift giving, your budget will certainly not allow for you to buy every item on people’s wishlists. However, you can keep an eye out for special holiday deals or sales. Buying gifts then is a great way to save a few bucks. Also, instead of buying everyone a gift that will be there for the family dinner, suggest a secret-Santa. That way you are only responsible for buying one gift for a family member.
Become a coupon collector and deal hunter
There is more than one way to save on gift buying. Sales are not the only way. Great deals and discounts can be found with coupons. The internet is littered with sites offering coupons and discounts. Also, online stores offer many direct discounts. You can save loads by just keeping your eyes open for great deals, such as two-for-one discounts and free offers.
There is always great financial and saving advice around. However, the best way to save over the holidays is to establish good spending habits. You can use this holiday time to create a budget and strictly adhere to the limitations you have set for yourself. Holidays are undoubtedly the hardest time of the year to stick to a budget. But, if you can accomplish it over this holiday period, the rest of the year will be a breeze.
Creating good and healthy spending habits, and not living beyond your means are great methods for ensuring a financially stress-free holiday.