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7 Money Saving Tips to Preparing for the Oncoming Holiday Season

7 Money Saving Tips to Preparing for the Oncoming Holiday Season

Although most people are still spending their spare time at the beach or attending barbecues, the holiday season will be here in just a few months, and it is time to start preparing financially. After all, if you do not take the proper steps now, you might end up dealing with a lot of credit card debt next year.



Seven Tips to Help You Financially Prepare for the Holiday Season

 1) Reduce Your Gift List 

It is nice to be able to give a gift to everyone in your life, but this is not realistic if you are trying to avoid debt. Therefore, you should cut your list down to reduce expenses, and give everyone else a nice holiday card instead.

 2) Set a Budget for each Person 

Although you will probably pay more for each of the people who live in your household, you can easily get away with setting a budget of $20 for every other person on your gift list. After all, there are several useful items that can be purchased for less than $20, and gift cards in that denomination are also a good choice.

3) Limit Your Purchases to Cash 

The temptation to use a credit card can be high, but if you do this, you will be much more likely to go over your budget and accumulate a lot of debt. Instead, you should stick to cash purchases to minimize your expenses.

 4) Consider a Secret Santa Party

Realistically speaking, most of the people in your life do not have enough money to get nice gifts for all of their loved ones. Therefore, you should consider taking the pressure off of everyone by hosting a Secret Santa party. This will ensure that everyone gets a nice gift without needing to spend an exorbitant amount of money.

5) Manage Your Child’s Expectations

Children tend to go overboard when they ask for holiday gifts, so it is important to teach them that they will not be able to get everything that want. Instead, you should have them stick to a specific number of gifts or dollar limit. This will help you reduce expenses, and it will also teach your child about the value of money.

6) Utilize an Online Christmas Retailer

If you want to give your recipients something unique such as a personalized photo frame, t-shirt or book, you can visit an online Christmas retailer, like ChristmasGifts(dot)com. These shops also typically feature food gift baskets and holiday decorations. For the early bird, who wants to tackle that Christmas list a lot sooner, this is an ideal way to get started early and to get additional ideas for people who might be on your shopping list. With the variety and uniqueness found on such a site, the ideas can be endless.

7) Shop Online on Black Friday and Cyber Monday

Everyone knows that some of the lowest prices of the year are available on Black Friday, but waiting in line at a store at 5 a.m. is not the best way to save money. Instead, you should visit online retailers on Black Friday and Cyber Monday to get the best prices from the comfort and convenience of your living room.

Buying holiday gifts is a nice tradition, but you should never let it compromise your financial stability. Fortunately, there are several easy steps that you can take to reduce the cost of the holiday season.

Lisa Coleman shares ideas on how a person can start planning financially for the upcoming holiday season by utilizing smart fiscal habits and an online retailer. She found that offers a great way to start the pre-planning budgeting process while obtaining great gifts for loved ones that are on their Christmas wish list.

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