Debt burden is an increasing problem for many people today. And no wonder, we’re constantly being bombarded with advertising and with the holidays coming even more so.
So let’s look at bulletproofing your mind from all the temptations to spend big over the holidays. Here are a few tips –
1) Always work from an affordable budget and put a reasonable limit on the amount to spend on gifts and holiday entertainment.
2) Shop small – consider small but unique gifts for family and friends. There are many local merchants and crafters selling affordable and one of a kind items. They would certainly appreciate your support this holiday season.
3) Shop later – many merchants start their markdowns, and some aggressively, as Christmas eve approaches. They are afraid of being saddled with inventory after the holidays. So if you can, refrain from buying the first two weeks of December. Instead wait. Chances are the closer to December 24th, the lower the prices. Of course, this doesn’t apply if the item is a hot seller this season and it is something you definitely must buy.
4) Give gift cards – not only are these appropriate gifts to give, they are also convenient and can be easy on the pocket book. Today, you can virtually buy gift cards in any denomination from almost all retailers. There are even discounted gift cards for entertainment and dining that can be bought from merchants like Costco, Groupon and Living Social.
Remember, holidays and good times will come and be gone too soon. But bills and debt can be a real stress after, adding to the gloom of the dreary winter months ahead. So be mindful not to lighten your pocketbook too much this holiday season, and you’ll be thankful that you did this coming January.