Take Control of Your Holiday Budget

There are many temptations during the holiday season; temptations to grab that extra ginger cookie off the kitchen counter or splurging on that stylish holiday outfit for the office party. Stores certainly do not help us resist temptations by offering sales seemingly at every corner or fetching end caps that are far too accessible. How can we get the holiday season we want without spending more than we want? Let us help you stay on top of your holiday budget with some tips below:

Narrow Your Social Calendar

With holiday office parties, family gatherings, and expensive social excursions, your time and available finances will quickly be eaten up. It can be especially hard on your budget if you feel obligated to bring a gift, bottle of wine, or contribute to meals or party décor. While the holidays are the perfect time to spend with friends and family, limit your RSVP’s to a manageable amount. Also, consider getting together with friends after the holiday season or engaging in more low-key events to maximize time for your relationships and minimize stress and money spent.

Put Together an Honest Gift List

Be a smart shopper and plan an honest gift list that does not rely on credit cards to fill the gap. This will be important if you want to start out the new year free of debt. Set a spending limit for each person on your list and stick to it. The forethought that you put into planning and the dedication that you put into sticking your budget will help you start the new year on a financially strong foot.

Shop Smart

Picking up smart shopping habits this holiday season will help you get into the practice of shopping smart all year round. To begin, learn how to comparison shop and use shopping apps to compare prices and save you time and money. Compare deals across multiple stores and online. This can ensure that you get the best deals. Keep your list with you and begin shopping as early as you can to reduce the stress of last-minute shopping. Another tip to remember? There’s no shame in thrift shopping if you can find one-of-a-kind gifts that are in great shape. There’s also no shame in regifting as long as the item can bring greater happiness to someone else.

Planning a budget for your holiday spending does not have to mean skimping out on the best of the season. Think ahead, have a strong financial plan, and have the dedication to stick to the budget. You will find yourself feeling thankful for it in the new year.

For more advice on becoming financially savvy in 2017, visit Schlenner Wenner & Company today.