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Holiday Budgeting Tips

Holiday Budgeting Tips

holiday budget

It’s easy to get caught up in the season only to realize in January that you’ve destroyed your budget. Here are a few tips to help keep you on track this holiday season.

1. Let Your Experiences & Traditions Matter More than Gifts.

Most of us cannot remember gifts we received last year. Instead of focusing on the gifts, create new traditions or celebrate treasured ones.

2. Stick to A Plan.

Have a budget. Have a shopping list. Do your research to make sure you’re getting the best possible deal.

3. Communicate with friends and family.

If you’re unable to exchange gifts or if you’re paring your list down, be sure to let your friends and family know. Then you won’t feel embarrassed if they purchase a gift for you.

4. Track Your Spending

Not all holiday expenses are related to gifts. You may be hosting a party, preparing a dinner or even purchasing tickets for holiday shows. You may tip your hairdresser, your babysitter or other people who you interact with throughout the year.

5. Use Credit Cards Wisely.

Ideally, you should be able to pay for your holiday spending as you go. For most of us, this is not reality. If you use your credit cards, choose the one or two with the lowest interest rate, not the expensive store cards. Avoid opening new store cards to get a one-time discount. Unless you can pay the balance in full when the bill arrives, you’re likely to pay a lot more in interest over time.

6. Start Preparing for Next Year.

Open a holiday club account and get a jump start for next year. Saving a little each time you get paid gives you a cushion for holiday spending next year.


Cutting down on your spending doesn’t make the holidays without joy. Treasure family, friends, traditions and memories.


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