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Controlling your holiday spending is an essential aspect of a healthy financial life. However, holiday spending doesn’t have to take a huge toll on your budget! Most times, the joy that come with times of holiday celebrations often leads to non-budgeted expenses later. Perhaps, more than ever before, it could be a time to focus on what matters most: your health, including your financial health. Here are a few tips to keep in mind as you plan your Easter shopping:
# Make a List & Cover Your Essentials:
It should be a priority first that you cover your basics, transportation, healthcare, rent, and food, before spending money on anything else. Making a list of the stuffs you intend to buy with your money during celebrations will not only help you keep track of your spending, but it will also help you save so much time because you’re already coming in ready! All you have to do is to stick to your list and move on. And by doing so, you’re allowing yourself to conserve time, money and energy.
# Be Realistic About Your Budget:
Budgeting is one of the most important step to smartly manage spending during the festive season or in general. Once you’ve got your lists and your budget down, it’s time to shop! But before hitting the shopping malls, you may want to consider buying your gifts or groceries this time from local merchants. This helps you save as much as you can and if you have any extra money left over after covering your basics, determine a set amount you feel comfortable depositing into your emergency and personal savings every month.
# Track Your Spending
keeping a record of your spending is the second most important move you need to make during holiday festivals. Your budget does no good if you don’t get to track your spending effectively. Try to build up a separate holiday fund. This will make it easier to separate festive spending from your day-to-day expenses.
# Buy & Give Gifts Creatively:
You do not necessarily need so much money to celebrate the holidays in style with your family and friends. Some of the best gifts you could give are inexpensive, yet thoughtful, and meaningful. You can set a price limit on the gifts you plan to get and give out. Before you go shopping online, perform a quick web search and check through your mailbox for coupon codes for your favorite online stores or local stores. That way, you limit the number and cost of gifts you buy.
Good Luck!!!
