How to Avoid Overspending This Season

The holiday season is a time for giving and celebrating with loved ones. However, it can also be a time for overspending. With so many sales and temptations, it can be easy to go overboard. If you’re not careful, you could end up starting the new year in debt.

Here are some tips on how to avoid overspending this season:

Create a budget and stick to it

This is the most important step. Before you start any holiday shopping, figure out how much money you can afford to spend. Then, create a budget for each category of spending, such as gifts, travel, food, and entertainment. Once you have a budget, stick to it as closely as possible.

Make List

Start by making a list of everyone you need to buy gifts for and set a spending limit per person. This will help you stay focused and avoid overspending. When you’re shopping, only buy gifts for the people on your list and stick to your budget.

Shop Around and Compare Prices

Be sure not just to buy the first gift you see. Take the time to shop around and compare prices at different stores. You can also use online shopping apps to compare prices and find the best deals.

Avoid Impulse Purchases

It’s easy to make impulse purchases when you’re holiday shopping. But before you buy something on impulse, ask yourself if you really need it. If you can wait, it’s often better to do so.

Consider Homemade Gifts

Homemade gifts and experiences can be just as meaningful as material gifts, and they’re often cheaper. For example, you could bake cookies for your friends and neighbors, give tickets to a concert or sporting event, or offer to babysit or walk your loved ones’ pets.

Limit Spending

It’s okay to set limits on your holiday spending. If you can’t afford to buy gifts for everyone, talk to your friends and family and explain the situation. They’re likely to understand.

All in all, the holiday season is about more than just spending money. It’s about spending time with loved ones and creating memories. There are many free or low-cost activities you can do to enjoy the season that can be more meaningful than any gift you can give. In the end, by following these tips, you can avoid overspending this season and still have a happy and fulfilling holiday season.

Additional Holiday Money-Saving Tips

Here are some additional tips that may help:

• Use cash instead of credit cards when shopping. This can help you stay more mindful of your spending and avoid impulse purchases.
• Don’t go shopping when you’re hungry or tired. You’re more likely to make impulse purchases when you’re not in a clear state of mind.
• Take breaks when you’re shopping. Get up and move around every 20-30 minutes to avoid shopping fatigue.
• Don’t be afraid to say no to sales and promotions. If you don’t need something, don’t buy it just because it’s on sale.

Remember, the holiday season is about more than just spending money. It’s about spending time with loved ones and creating memories. Focus on the things that are truly important, and don’t let overspending ruin your holiday season.

Need Extra Cash This Season?

If you are in need of a little extra cash this holiday season, we’ve got you covered. Now, you can get a line of credit from Advance Financial as soon as the same day you apply!* Get the cash you need without having to wait on long lines or long approval times. At Advance Financial, we understand that life can throw a lot at you. That’s why we want to make it as easy as possible to get the cash you need. Make the holiday season great this year and apply online or in any of our Advance Financial Tennessee store locations!

*Bank Participation Required.