Holiday Spending Tips - Ten Ways To Keep From Having A Holiday Spending Hangover

Ah the holidays. a time for parties, over eating, and over spending.
Americans routinely overspend during the holidays, often resulting in
increasing credit card debt to go along with that increasing waistline from
too much pumpkin pie.

The holidays are stressful enough. Don't add to that stress by overspending
your holiday budget. Here are ten tips to help you save time, money and
stress this shopping season:

1. Make a list. Decide how much you can afford to spend this year and write
it down. Decide who you want to buy for, and how much you want to spend on
each person. Take this list with you when you go shopping to ensure that you
don't buy on impulse or exceed your spending limit. Also, don't forget to
include wrapping paper, decorations and shipping costs. These can add up
fast!

2. Pay cash for your holiday gifts. It's much harder to spend cash than
credit, so this tip alone could save you hundreds of dollars this holiday
season. Also, avoid credit card offers or store charge card offers that
offer you a discount if you sign up. These cards usually have high interest
rates, and could end up costing much more in the long run than the discount
you receive when you sign up for the card.

3. Do your shopping online this year. Buying online could result in
discounts not available in stores. Just remember to include the shipping
cost when buying online. Even if you don't actually buy online, the time you
can save by doing comparison shopping before you go to the malls could be
invaluable.

4. Have a Secret Santa gift exchange, where you put names in a hat and each
person draws one name to purchase for. If you have a large family, this
could mean tremendous savings! You should set a dollar limit so each person
knows how much to spend. That way no one overspends and relatives with
smaller budgets won't feel bad about not spending a fortune on a gift.

5. Another alternative for those with large families is to do a group gift.
Have several relatives go in on one big gift instead of each person buying a
separate gift. You will probably all save money and you can buy the
recipient one big, cool gift that they really want.

6. Start early! Shopping early allows you to comparison shop and to catch
pre-holiday sales, which could mean huge savings.
This also curbs impulse shopping, which can be very expensive.
Another benefit to shopping early is lower shipping costs if you need to
mail a gift. Waiting til the last minute can be expensive because you're
more likely to pay full price for the gift, and you may have to pay extra to
ship it if you want to guarantee it arrives in time.

7. Make your holiday gifts. If you have creative talents, such as cooking,
crafts, etc., making your own gifts can be very special. If you're not very
creative, consider giving your time. Offers to baby-sit or to do something
special for someone can be very personal and appreciated gifts. How many
parents do you know who wouldn't love to have free babysitting?

8. Purchase wrapping paper, holiday cards and other decorations right after
the holidays. Seasonal items are usually offered at deep discounts after the
holiday, and they never go out of style. Stock up on clearance-priced items
for next year, this year!

9. If you'll be traveling this holiday season, book your travel plans early.
Airline flights, train tickets and bus tickets usually go up significantly
during the holidays, so booking your travel plans early can save you money
and stress.

10. Start a Christmas fund in January for next year's shopping.
Many credit unions and banks offer special accounts just for this purpose. A
CD is another great way to save for next year's holiday expenses. It never
hurts to sock away a little money every month between now and the next
holiday season. You'll earn a little interest and you'll have cash to spend
on your holiday gifts and other expenses when the holidays roll around.

About The Author: Kristine A McKinley, CPA, and Certified Financial
PlannerR, offers fee-only financial planning. Learn how improving your
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