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?
Tips for Controlling Holiday Spending
November 15th, 2006 at 03:27 pm
November 15th, 2006 at 03:47 pm 1163605626
That's right, with my "No money" plan, I feel assured that I will not overspend!
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.
November 15th, 2006 at 05:18 pm 1163611104
November 15th, 2006 at 07:54 pm 1163620484
November 15th, 2006 at 09:05 pm 1163624704