Holiday season is almost upon us, which means a little extra stress, and a lot of extra planning. The good news? We’ve compiled a few easy-to-follow tips to help keep you in stride with your financial goals this season, so you can focus on all the feel-good moments the holidays have to offer.
Decide on a budget early.
It’s important to make a plan and stick to it. All of those seemingly insignificant purchases like ingredients for holiday cookies, little gifts for co-workers and a holiday haircut, all add up.
Cash > Card
What is it about swiping your card that makes it so easy to spend? When you use the cash system, there’s no denying that once your budget is gone, it’s gone. That means more incentive to save for what matters most.
Tally it up.
Use a budgeting app to keep a daily log of what you’ve bought, what you have left to buy and how much you have left in your budget. Having a live journal will help keep you accountable and keep your budget on track.
Make a plan.
When you can add presents to your cart in one click, it’s hard to not go overboard in online shopping land. Before you hit the shops (virtual or otherwise), make sure to make a game plan of exactly what you plan to buy – and stick to it.
Harness your creativity.
Are you a decoupage master, a needle-point savant? Put those crafting skills to good use by creating a one-of-a-kind gift that will mean so much more than another shirt (Unless you’re knitting them a shirt, then – by all means).
Get back to basics.
Packed lunches, travel-mug coffee and carpooling are all great ways to save a few extra dollars that definitely add up. Once you get in the habit, you won’t even miss that $5 cup of coffee. Promise.With these simple tips, you can get back to all the good happening this season. And if you’re looking for more ways to grow your financial literacy, check out MoneySKILL® - our program offering free classes on the best ways to invest, grow your credit and so much more