Worried about spending too much on the holidays? Check out these tips for sticking to a holiday budget (McWilliams, Pigott-Dillard, and Gutter 2014):

• Based on your usual income and expenses, figure out how much you are comfortable spending on the holidays. Spending within this amount will ensure that you’ll have enough money to pay your regular bills and that you’re not taking on any unplanned debt. (Tip: Quick to put purchases on the credit card? Shopping with cash can help you stay within your budget.)
• Make a list of what you plan to buy. This will help prevent impulse purchases, which can lead to overspending.
• Shop early. The stress of last-minute shopping will make you less likely to stick to your plan.
• Get creative. DIY gifts often show more thought and care than the latest expensive gadget.

Further Reading and Resources

• Cutting Costs to Live Within Your Income
• YOU and YOUR CREDIT Series
• Debt Recovery Tips
• Raising Healthy Children: Frugal Shopping Tips for Families
• Healthy Eating on a Budget

References

McWilliams, R., J. Pigott-Dillard, and M. Gutter. 2014. Five Steps to Seasonal Savings. FCS5267. Gainesville: University of Florida Institute of Food and Agricultural Sciences. Accessed November 16, 2015. https://edis.ifas.ufl.edu/fy1405

Photo credit: Jarin13/Thinkstock

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