Well, Black Friday is here and gone and Cyber Monday too! The buying season has really just begun for Christmas. Most people overspend on buying gifts for loved ones and friends; it’s easy to do. You get caught up in the spirit of giving and lose track of your spending and then regret it after the holidays.
What to do? Follow these tips to spend wisely this Christmas Season:
Start by trying to set a budget based on how much you can really afford.
Don’t try to keep up with others; there is always someone who has more budget to spend.
One possible rule of thumb is keeping your spending to 1% of your annual income. If you make $75,000, you spend $750 for the gifts you are giving. This may not seem like enough, but it is better to be conservative than not.
Avoid big ticket items if you can as they eat into budget quickly and usually, you end up spending much more than you planned.
Try to purchase more gifts with smaller amounts; you will give more but spend less!
Try to create a budget for each person you are buying for, that way you will have a good idea if the total is way over what you were planning to spend… this is a normal outcome, so don’t panic.
Most people, especially children, grand-children, nephews, and nieces start their wish-lists with big items…. If there are no affordable items on their list, then ask for other options.
If you can start shopping early, you will often be ahead.
- Be thorough; you can find bargains on websites of the brands, Amazon, and other places that may surprise you.
Also, if you start buying earlier, it is not nearly such a big budget burden as you can adjust easier on a month-to-month basis than if you spend it all in one month like December.
If you are crafty, home-made gifts are often cherished more than anything you could buy, so make some gifts you can give that will be loved for years to come.
Know that there is no one source that is better. Thorough research can save you hundreds of dollars and make your budget go much further.
If you overspend, it could affect you for months to come, or longer, so be careful!
Why You Should Get Online Payday Loans for Holiday Spending
Piling up high-interest credit card debt can be a heavy burden for a long time, so stick to the budget you set and avoid future stress. You should also avoid getting short-term high interest or high fee loans. You should only take on online payday loans, also called instant online loans or instant cash loans if you know your next paycheck will be big enough to pay the loan back when it is due.
Generally, taking out loans for holiday spending is not a good idea. However, if you lack credit cards and have poor credit, an instant online loan may be the last resort. It is always better to budget ahead and stick to your spending limits and avoid any high-cost loans.
If you truly need an instant online loan, consider CashinaSnap, where we refer you to over 100 lenders who want your business.
Kimmy Burgess is the Manager of Cash in a Snap, which helps clients get connected to its large network of reputed lenders to get a no fax payday cash advance when they need it. Kimmy has over 20+ years’ experience in Administrative Management, with many years in the lending industry. Her expertise includes customer service, client services and other functions in the payday lending business. She has also spent time in the mortgage industry prior to her move into the payday lending field. Kimmy has a number of pets including cats, birds, and a Chinese water dragon.