There are many holiday periods throughout the year that are times when we have fun, catch up with family and friends and generally let loose for a while. However, we have to make sure that by letting loose it just means an extra few drinks at your office party or perhaps putting on a little extra weight. What we have to make sure is that this holiday spirit doesn’t lead to us being overly reckless with our spending over these tempting periods, which is why I have come up with a list of mistakes you should be avoiding:
It seems that each and every year retailers are shoving bargains in to our faces earlier and earlier, literally dragging us out of our Halloween costume and straight into a Santa one or vice versa. However, don’t let yourself get sucked in by all of the supposed reductions that retailers advertise.
Many of us start off with good intentions by trying to keep to a budget at these holiday periods, however it is amazing how many of us forget about all of the extras such as presents, decorations, travel expenses and of course increased gas and electricity bills due to the cold, extra guests and extra cooking.
If the only way you can pay for something is to put it on your card or some form of retail financing you simply cannot afford the purchase. Go for something you can afford, as even if you think you are getting an excellent deal on the item, those savings will be wiped off once you have paid off the interest rates. Millions of people will in fact be paying off for last year’s Christmas for most of this year.
Is there anything worse than seeing a gift that you have already bought elsewhere, so much cheaper a few days later in a different shop? Then you realise that you have misplaced the receipt? Well, make sure you keep all of your receipts in a safe place at home so if that scenario ever happens again, you can take the item back and then go buy it at the cheaper location.
This is one of the biggest no-no’s around a holiday season, especially amongst the younger generation who feel that they need to show off their new found independence. Do not overdo your gift giving, for the sake of trying to make a statement. You need to ask yourself whether or not the recipient will even make any use of the gift before you make that expensive purchase and wrap it up.
We all know what it is like to get caught right up in the festive spirit; however you shouldn’t let that spirit get you in financial trouble. You really are not obliged to buy absolutely everybody and his pet a gift, just stick to the most important people in your life.
Avoid letting guilt ruin your holiday budget; you really do not have to spend exactly the same amount on each kid on your list. You could just be more thoughtful about your gifts and make them a little more personal. Also, do not feel you have to compete with prices from gifts giving to you. Just because last year somebody spent three times more on their gift for you than your gift for them that you have to up your price range the next year.
A particular deal may look good, but how do you know that it is the best one on town? Why not get online and try out some price comparison sites, you can also find some reviews and see how other customers rate the product.
Last minute shopping will leave you feeling frustrated and run off your feet when you go running around looking for something suitable. This will no doubt end with you buying something that is either worthless or lacking thought. Get the shopping done as early as possible so that you have the time to make sure you get it right.
Paper weights, those electric nose hair trimmers, socks and woolly jumpers will never cut it as great birthday gifts. They show no imagination and you may find that you will receive something of the same ilk from the recipient the following year. Therefore try to be imaginative and creative with your present choosing’s.
If like Jasmin Blunt you like to try and keep a lid on your spending all year round, you will always be in a position where you should never have to go looking for any dreaded debt advice. However it is nice to know that it is always there if you need it to recover your finances.
I'm Louida from Atlanta, Georgia and I'm a mother of two daughters, blogger, and full time working mom at a Business Consulting Firm.
I love helping others learn how to start working from home on the internet free to supplement their current income.
I also blog at Productreviewmom.com
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