10 Tips to Not Go Broke During the Holidays

I once did a holiday survey and responses indicated the biggest pain point when it came to the holidays was budgeting. It can be hard to budget when it feels like there's so much vying your wallet! Here are some tips to help with budgeting throughout the holidays.

1. LIST OUT EXPENSE CATEGORIES Your line items.  Things like: 🎄 Gifts 🎄 Stocking Stuffers 🎄 Home Decor 🎄 Meals

2. START WITH THE CURRENT STATE OF YOUR CHECKING. This sounds basic, but you need to take a look at your finances to see what you have to spend on the season. Make sure your other bills and financial obligations are covered.

3. CONSIDER A NO-SPEND CHALLENGE. It might help to implement a no-spend challenge in the months leading up to the holidays or, during the holiday season, a no-spend challenge on items that might get a higher percentage of your discretionary income in different seasons. For tips on completing a no-spend month, see the blog post below.

4. SET A SPENDING LIMIT FOR GIFTS If you're someone who tends to go overboard with spending on gifts, set a limit per person to stay under to keep your holiday spending in check.

5. FIND EXTRA CASH WHERE YOU CAN Coupons, gift cards, online activities, or credit repair. These aren't large sources of money but little amounts can be helpful.

6. PLAN YOUR SHOPPING AROUND SALES. 'Tis the season for every sale around the Christmas Tree, so plan your shopping around them!

7. DON'T USE LAYAWAY. Don't use payment plans on gifts. Read the linked article for more information about why.

8. SHOP FINANCIALLY-CONSCIOUSLY Be aware of what you're spending so that you're spending more money on things you love and less on things you don't love.

9. PAUSE RECURRING SUBSCRIPTIONS. If you’re willing/able to forego your extra TV subscriptions or pause gaming apps, etc, those all add up!

10. SLEEP ON BIGGER PURCHASE DECISIONS BEFORE PULLING THE TRIGGER. This could help avoid any buyers’ remorse and keep you focused on your bigger holiday budgeting goals!

For more lifestyle inspiration, go to: