Only 10 shopping days left until Christmas! It's not too late to make your list and check it twice. But if you are planning to credit cards to buy your gifts this year, you will pay a lot more than you bargained for.
Sometimes, using your credit cards is a necessary evil. If this is the case for you, a good rule of thumb is to not put more on the cards than you can pay off in ONE MONTH! According to ecomerce-guide.com 52% of Americans plan to spend $500 or more this Holiday season. I don't know about you, but I'd have a hard time coming up with that much to spend out of my budget for one month.
Use these tips to ensure that you keep your spending under control and have a DEBT-FREE HOLIDAY!
Tip #1: SET A HOLIDAY BUDGET
Before you head out to the mall, decide exactly how much you can afford to spend. Try to allow a small buffer just in case. Make a list of each person you need to buy for and allocate a set amount of your Holiday Budget for each person.
Tip #2: Make a List
Just like Santa, you need to make a list! Write down each person you need to buy for and allocate a set amount of your Holiday Budget for each person on your list. Don't forget gifts for teachers and office party gift exchanges.
Tip #3: Don't Sign Up for a Store Credit Card
The discounts offered for signing up for a store credit card often sound like a good idea. However, these store credit cards often come with unreasonably high interest rates. If you can't pay off the balance in full, the interest will cost you far more than what you saved by opening the card in the first place!
Tip #4: Shop Online
Shopping online allows you to easily compare prices from many different companies from the comfort of your own home. There are no pushy sales people there to talk you into spending more than you planned, so it is much easier to stick to your budget. Also, always remember to search for a coupon code or promo code before you make any online purchase. You can almost always find some sort of additional discount when you shop online.
If you do shop online, shipping costs can really add up. Keep an eye out for free shipping promo codes or check out freeshippingday.com where a huge list of online stores offer free shipping on December 16th!
Tip #5: Re-Evaluate
Since Christmas is right around the corner, you may have already purchased most of your gifts. If you have already overspent, don't hesitate to re-evaluate your purchases. You can return any excess gifts or exchange them for more budget friendly items. Also, keep an eye out for last minute Christmas sales. Stores often discount items right before Christmas. If an item you have already purchased has gone on sale, consider taking it back to the store for a price adjustment.
If you follow these 5 Last Minute Shopping Tips, you will have a less stressful Holiday celebration. When you stick to your budget, you can relax and celebrate with your family and friends in peach without worrying about the bills to come in January!
Happy Holidays Everyone!
