Budget
I’ve said it many times before, but it’s worth repeating: make a budget for the holidays taking into account everything (food, gifts, decorations, and postage) and stick to it. Be realistic on how much you can afford to spend and prioritize your purchases.
Pay with cash
Paying with cash forces you to think twice before making that purchase. It is harder to hand over cash than to hand over a credit card, and this can help keep you on track with your spending budget. When the cash is gone, your shopping should be done!
Layaway Plans
Layaway is once again popular this holiday season. It’s an easy way to pay a little over a few weeks until the items are paid for. Be sure to read each store’s layaway policy before shopping and ask questions if you don’t understand something.
Christmas Club Accounts (for next year)
It may be too late for 2011 but it’s not too soon to start thinking about next year. Open a Christmas Club bank account and contribute to it monthly. By contributing as little as $25 per month, you can save $300 in a year to spend on next Christmas.
Happy Holidays & Happy Saving!
~ Savvy Saver
