Shopping during the holidays doesn’t have to be stressful. With these four tips, you can purchase a gift for everyone on your list while staying on budget.
1. Assess your finances: Take a look at your annual budget and determine the maximum amount you have to spend on holiday gifts this year.
2. Set a spending limit for each person on your list: By making a list of everyone you need to buy a gift for and allocating a spending limit for each person, you’ll know exactly how much you can spend on each gift. Just remember to stick to the limit!
3. Open a holiday savings account: Setting up a savings account with a competitive interest rate and automatic monthly deposits can help you grow your savings and keep you from using the money on other purchases.
4. Take advantage of holiday sales: Holiday sales like Black Friday, Small Business Saturday and Cyber Monday are great opportunities to snag deals on gifts for everyone on your list. The key is sticking within your spending limits and not getting carried away with enticing opportunities to overspend on deals.