AVOID HOLIDAY SHOPPING HANGOVERS

If you know you always overspend for holidays, better planning can keep costs under control.

1. Set a budget: Write a list of all the people you want to buy for and set a dollar amount for each person.

2. Shop throughout the year to take advantage of sales and coupons. Keep track of where you store these gifts so you can easily find them when you need them.

3. Resist the urge to buy more: Add to gifts you’ve already planned for and purchased because it feels like there are not enough is not a good shopping strategy. 

4. Pay with cash: Leave the credit cards at home and only spend as much cash as you’ve allotted in your budget.

5. Consider alternatives: There may be a less expensive gift you can give, such as:

• Making something special for the recipient.

• Instead of giving gifts to friends, arrange a potluck dinner or dessert gathering. You’ll be surprised by how many people will appreciate the money savings and the time together.

• Secret Santa: Ask the adult relatives in your family to participate. Each person chooses a name out of a hat and buys a gift only for that person.

When changing your holiday spending traditions, start the conversation early with your family and friends so they can support your new, cost-saving plan.