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Tips for Controlling Holiday Spending

November 15th, 2006 at 07:27 am

I was thinking about ways to keep holiday spending in check this morning. Here's what I've come up with so far:

1. Set spending limits, including a total limit for all holiday gifts, and limits for individuals you will be buying for

2. Make a list of each person you want to buy for and gift ideas. Carry list with you as early as Fall to take advantage of any sales, etc.

3. Start a Christmas fund in January for next year. Many banks offer these. A CD (if interest rates are good) might be another good idea.

4. Make your own gifts (if you have creative talents). I like to cook, so I will sometimes bake goodies and give as gifts.

5. Pay cash. Or, if you are disciplined enough, use your credit cards, but pay the balance in full as soon as you get the bill.

Any other suggestions?

4 Responses to “Tips for Controlling Holiday Spending”

  1. Broken Arrow Says:

    I got the perfect plan: No money.

    That's right, with my "No money" plan, I feel assured that I will not overspend! Big Grin

    Seriously though, I agree with your points. In particular, I have a small holiday fund (for Christmas and birthdays combined) that's a regular part of my budget. That money is being funded every time I get paid.

  2. janH Says:

    Wow, I did those this year! Except for making a list and carrying it to find what I needed during the year. I wait for their lists. It would be nice to write down each person and carry the list.....

  3. fairy74 Says:

    Last year was a last minute, overspend nightmare---I put all these tips into effect this year and not only did I save money but I am much more relaxed as well! Smile Thanks for posting the tips!

  4. PRICEPLUS Says:

    I think the pay cash part is the most important. You can't spend more cash than you have so you have to plan ahead!Smile

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