Holiday Shopping on a Budget

Here are some tips to help you reduce your debt—or avoid it altogether—during the holidays:

• Can’t afford it now, can you afford it later? Only buy things with cash or your debit card. It’s easier to stick to a budget (no matter how small or large) if you are using money that is in your wallet.
• Make a list and check it twice! Impulse buys are a major contributor to overspending so keep to a plan for each person on your list to stay within your budget.
• Let family traditions decide your spending. Most of us can’t remember the gifts we received last year, let alone as a kid. It’s the family traditions and time with loved ones that make memories and really stand out. Start spending with your traditions in mind first, then all the rest can take a back seat.
• Shhhh…it’s a secret! Do you have a large family or network of friends that exchanges gifts? Try doing a secret gift exchange where everyone draws one name and buys only for that person. It’s a lot more fun guessing who might have pulled your name, and you only spend money on one gift!

Stressed from all the holiday hustle and bustle? Our Employee Assistance Program (EAP) can help with stress-reducing strategies - click here for details.