Financial tips for women this holiday season
THE holidays will come with additional expenses even when you promise yourself that you won’t spend a thing, and especially for women who generally ten d to get caught in the holiday fever as they prepare their homes for the festive season, overspending to achieve this is a common occurrence. But a financial hangover is avoidable if women consider some other options.
Think you can’t survive the holidays without spending a fortune? Below, we share tips on how you can get through the holidays with your account still intact.
Write a budget and stick to it
The first mistake that many women make with holiday spending is not making a budget in the first place. This is the main reason overspending occurs. Make sure that your budget is rock solid and commit to it.
Don’t buy new things if you don’t need to
We have a tendency to buy new curtains, runners and other décor such as ornaments and do other unnecessary things such as change furniture and appliances in the name of having a “fresh” look for Christmas.
You don’t need new outfits for every occasion
The holiday has many parties — from work, to casual and family entertainment, and naturally women will want to look good. Unfortunately, many women translate this to mean a need for a ‘holiday wardrobe’ even though they may already have several pieces that have never been worn. There is no crime in buying one outfit, but don’t go overboard.
Plan ahead
Don’t wait until the last minute to put things together, whether its tickets for travelling, gift buying or purchasing necessary home supplies including seasonal foods. These things get more expensive the closer it gets to the holidays.
Recycle
Being creative is much easier these days with the help of the Internet. Hundreds of tutorial videos are posted online showing step by step instructions for turning what we would have otherwise thrown out into beautiful pieces of craft and decorative items. So instead of throwing out those old champagne bottles or mis-matched glasses, boxes and pans, use your free time for DIYs. You will have fun while saving.
Be thoughtful
At the soul of gift giving is being thoughtful. Gift giving is nice, but you simply cannot get gifts for everyone. You’re not Santa Claus and you need to remember that. Additionally, gifts don’t have to be expensive – you just need to give something you know they will like. And even when getting the kids gifts, one quality gift is enough. Don’t go overboard buying expensive things. Just get something you know the person needs or likes because half the time gifts end up being unused.
Shop with cash
One way to make sure you don’t overspend is to shop with cash. This way you won’t overspend and if you don’t trust yourself to be disciplined enough, then leave your cards in a safe place at home, that way you won’t be tempted to go over budget.
Write a shopping list
When you write a shopping list you will know exactly what you need. This will reduce the need to wander around the shopping mall or supermarket aimlessly, and the possibility of spending on things that you don’t need or didn’t budget for.
Resist the urge to spend more than you have
Your credit card isn’t an easy way out, it’s debt that you will need to pay back. Don’t feel pressured to give big because that is not what the holidays are about. Again, it should be the thought that counts.
Shop around
Call or message businesses for their prices instead of going in store. Find out if they give discounts or if they will be giving discounts. Also, brand names aren’t always necessary; explore cheaper brands with quality goods.
