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Plan Now to Avoid Holiday
Overspending
by Nancy Twigg
Do you often overspend your budget when it comes to holiday gift giving?
If so, you are not alone. According to a recent nationwide survey
conducted by InCharge Institute of America, holiday gift buying is the
number one category in which Americans overspend each year.
Planning is the key to avoiding holiday overspending. Deal with the
problem before it even starts by developing a plan of action now to keep
the cost of the holidays under control. Here are some of strategies to
help you avoid the after-Christmas I-spent-too-much blues in January:
1. Set a budget. - Before you start your holiday shopping, decide what
you can comfortably afford to spend this year on gifts. Then mentally
divvy that amount up among the names on your gift list. That will give
you an approximate price limit when buying for each person.
2. Trim down your gift list. - If the amount you can afford looks a lot
smaller than your gift list, look for ways to scale back. Consider
sending only Christmas cards or handwritten letters of appreciation to
those outside your immediate family and circle of friends.
3. Practice low-cost and no-cost gift giving. - Look for ways to give
meaningfully instead of materially. Rather than exchanging gifts with
extended family members and friends, plan a special evening together
with each individual or family during the holiday season. Another option
is to give gifts of time or service such as free babysitting,
housecleaning, cooking, etc., to those on your gift list.
4. Cut back in other areas - Maybe scrimping on gift giving is something
you feel you can't do. For some people, Christmas is just not Christmas
if they don't have something under the tree for everyone on their list.
If that is true for you, scale back on other holiday expenses --
decorations, greeting cards, Christmas trees, holiday parties -- to free
up money to add to your gift budget.
About the author
These and other ideas for simplifying the holidays can be found in Nancy
Twigg's new book, Celebrate Simply: Your Guide to Simpler, More
Meaningful Holidays and Special Occasions. Endorsed by financial guru
Dave Ramsey, this book is must-read for anyone who wants to increase the
enjoyment of holidays while decreasing spending and stress. Learn more
at
www.celebratesimply.com
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