It may not quite be Halloween yet, but retailers are already gearing up for the holidays. Personally, Christmas stuff in stores before Halloween drives me insane!
Like it or not, Christmas is quickly creeping up on us. Instead of getting irritated, take this time to help prepare yourself and your wallet for the cost of the holidays. Taking a few steps to help curb holiday overspending now can help ease some of the sticker shock later.
1. Make your list and check it twice.
Overspending during the holidays isn’t difficult when your Christmas list is as long as your tree is tall. Before the holidays get here, take a few moments to decide who you’ll be buying gifts for. Children should obviously be at the top of the list, but you can probably drop a few names this year. Unless you’re particularly close with an adult, I suggest skipping the gifts this year in lieu of a thoughtful card. To avoid any awkward situations, suggest a no gift exchange policy for adults. Chances are others may welcome the chance to cut down on their own holiday spending.
2. Start your holiday savings.
If you haven’t started saving for holiday gifts, now’s the time! Start putting away money in a dedicated savings account or even an envelope. Don’t spend the money on anything but holiday gifts.
3. Take an inventory of your holiday decor.
You really don’t need to run out and buy all new holiday decor. Take a look at what you already have from previous years. If your decor is looking a little sparse, consider some DIY holiday decor with cheap or free items. Think cranberries strung together and natural holiday decor, like cinnamon scented pine cones and evergreen boughs.
4. Get a jump on your holiday shopping ASAP.
Leaving all of your holiday shopping for the last couple of weeks is a recipe for disaster! By that time, you’re likely to be running low on both money and time. Start making purchases for the upcoming holidays now – yes, before Halloween! – so you’ll have a good portion of your gifts already purchased. Making purchases slowly throughout the next couple of months can also help you avoid overspending in a frantic rush to add to your gift stash in the days before the holidays. You might also consider starting a holiday layaway.
5. Plan some homemade gifts.
Tap into your crafty DIY self and plan on giving some homemade gifts this year. Homemade gift baskets, knitted or crocheted items, framed photographs, and baked goodies are always more personal and usually much less expensive than their mass-produced counterparts.
Are you already planning for the holidays? How do you avoid overspending during the holidays?
