The holiday season is a time for giving, but some may find that they give just a little too much. Since Christmas spending can get out of hand, it is important to use a few tricks to help curb out of control spending. These tricks can ranged from creating a budget or shopping in a discount store to opening up a savings plan and holding back money each month.
Some of the best tips for controlling Christmas spending come down to how you deal with money in general. If you tend to splurge, it is important to write out a budget and stick to it. First, figure out a grand total of how much you want to spend; then write out the names of the people you will be spending it on and the role that they play in your life. For instance, if the gift is for your coworker, you may want to spend less than you would on a close friend.
Starting a savings account is another option for budgeting your Christmas spending. Again, it is important to come up with a grand total; then figure out how much you need to put away each month to meet that total. When you have purchased all of your gifts, you may then want to close that account or simply start saving again for next year. Prepaid debit cards are also a good option for saving, and can be a good alternative to using traditional credit cards, as debit cards generally do not accrue as many fees and will usually not reflect on your credit score.
Shopping in big-name stores can become costly, so you may want to shop elsewhere. In some cases, it may be difficult to find specific items outside larger stores; however, more general items such as clothing, toys, or household accessories may be found at discount or second-hand stores. Shopping online is another option; you can easily find discounted items, coupons, and save gas money on the trip.
For those you are close to, getting a handmade gift can be a heartwarming and frugal solution for excessive Christmas spending. When giving to more than one person, you can easily purchase a large amount of material that can be used to create several gifts. You may also want try making your own greeting cards by hand, or printing them from a computer.
