Tips for Shopping This Holiday Season and How to Save Money
The holidays are a wonderful time of year, but they can also be costly. Between buying gifts, traveling to visit family and friends, and all the other associated expenses, it's easy to let your spending get out of control. But there are some simple steps to help offset the higher costs and keep your finances in check. By following these tips, you can enjoy a stress-free holiday season and start the new year debt-free.
Don't Wait Until the Last Minute To Start Your Shopping
As the holidays get closer, it becomes more expensive to travel and shop in stores. Procrastinating will only lead to more stress and less time to find the best deals. By starting early, you can take your time to find the perfect gifts at the best prices. You'll also be less likely to use your credit card, which can add to unnecessary debt.
Develop a Budget and Stick to It
One of the best ways to stay on track with your spending is to develop a budget and stick to it. Determine how much you can realistically afford to spend on gifts and other holiday expenses, and then stick to that number. It will help you avoid overspending and going into debt.
Save First, Then Spend
Instead of using your credit card to finance your holiday shopping, plan to save up in advance. You can start putting aside money each month leading up to the holidays or set aside a certain amount from each paycheck. Doing this gives you the cash on hand to pay for your holiday purchases without worrying about where to get the extra money.
Take Advantage of Sales and Discounts
During the holidays, plenty of sales and discounts can be found. Take advantage of these by doing your research and comparison shopping. You can also use coupons and promo codes to save even more money on your holiday purchases. You can find great deals on gifts and other holiday items by being strategic about your shopping.
Use a Side Business to Pay for Your Gifts
If you have a side business, now is a great time to put it to use. Use the extra income to pay for your holiday shopping and avoid debt. It is a great way to stay within your budget and get the gifts you want.
If you don't have a side business, here are a few techniques you can use to make money for the holidays and buy gifts for your loved ones:
Rent out rooms you're not using in your house through Airbnb.
Freelancing using skills such as writing or graphic design.
Student tutoring.
Selling items you make or design yourself.
Dog walking, pet sitting, or pet grooming.
By following these simple tips, you can stay debt-free this holiday season and enjoy all the festivities stress-free. So start your shopping early, develop a budget and stick to it, take advantage of sales and discounts, and put it to use if you have a side business to help finance your holiday shopping. Reach out to National FCG to learn more about what we can do for you.