Most of the money spent on the holidays is done just a few days before. As people get their bonuses and final paychecks for the year, they rush to the stores to spend them. But is this a wise idea?
Probably not. Although many people wait for their bonuses because they don't have any other cash for the holidays, it causes impulse spending. Even if you have to wait for that final paycheck to go holiday shopping, keep these tips in mind to save along the way so you have money left for the New Year:
- Review local ads before you go shopping to find the best deals and don't get sidetracked;
- Create a budget and stick to it;
- Don't be lured by impulse purchases on end caps and by cash registers - the stores count on getting your cash in these places;
- Don't buy something "just to have a gift" - buy thoughtfully and frugally; and
- Keep the amount you want to spend in a separate account so when you run out of budgeting cash, the shopping ends.
Even if you have to shop last minute, a few minutes of planning can save you serious cash. Happy Holidays All!
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