Success Tips for $tre$$-Le$$ Holidays

Written by David Dixon – 11/13/2023

The holiday season, meant to be joyful, often comes with financial stress. The key to a smoother experience of this festive time is budgeting. Let's explore some updated tips and ways to spread more joy for much less financial stress.

1. Plan Early for Success
Starting early is the key to success. Create a comprehensive budget that includes spending categories such as:

1. • Gifts
   • Holiday travel
   • Food and entertainment
   • Holiday decor and attire
   • Charitable contributions

Save and revisit this year’s plan each year to align with evolving needs/wants.

2. Set Limits and Priorities
List everyone you plan to buy gifts for and assign a specific budget to each one. These limits keep your overall holiday budget in check.

3. Monitor Your Holiday Spending
Leverage online banking for easy monitoring of your accounts. Review your statements to stay on top of your spending trends. Timely bill payments also prevent unnecessary fees.

4. Smart Credit Card Usage
Opt for credit card(s) that offer cashback and other rewards. Since you'll likely spend the money anyway, why not get something in return, such as cashback, discounts, or travel deals?

5. Comparison Shop
Check prices to find the best value/offers from retailers. Online tools and apps assist in comparing prices, locating the best deals, and stretching your money to go further.

6. Personalized Gifts and DIY
Consider making gifts yourself. Personalized and homemade gifts carry more sentimental value and are a budget-friendly alternative.

7. Savings Plan for Expensive Gifts
For pricier items, start a savings plan early in the year. This proactive approach ensures you have the funds set aside for special gifts, alleviating financial strain during the holidays.

“Never worry about the size of your Christmas tree.
In the eyes of children, they are all 30 feet tall.” – Larry Wilde

Remember, the true joy of the holiday lies in the moments shared with loved ones. By budgeting wisely, you can focus on creating lasting memories.

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