How to Stay In Control When Holiday Shopping

Holiday gift-giving and chaotic shopping can easily lead to overspending. Most holiday shopping advice over the years has focused on frugality but this year is particularly difficult due to the shaky economy, the high rate of unemployment, and much higher cost of living. Many consumers just don’t have the means to spend like they used to spend on gifts, dinners, and holiday entertainment.

The good news is there are ways to prevent overspending during the holidays. It does take some effort and some willpower to stay within the boundaries but here are some tips to help make it easier:

Get Straight with Your Budget

The only way to know how much you can afford to spend is by figuring it out. Calculate how much money you have to spend for the holidays. If you find you only have $100 then that is all you have to spend unless you work some overtime or find a quick way to add to your income before Christmas. Once you know how much you have to spend, get comfortable with that number no matter how you have shopped and entertained in the past. You are likely not the only one who have to cut back this year.

Get Creative

Rather than hit the mall with your hundred bucks, consider what other ways you can utilize your hundred dollars. If you are particularly good at crafts, baking, or making other items people love, stick with that kind of theme rather than go out shopping for other gifts. Spend the money you have on ingredients, supplies, and take time to really create something nice.

Create Your List

If you have a bit of financial flexibility, you still need to rein it in within your spending limits. Create a list of people you need to buy gifts for and set a spending limit next to each name. Look for ideas of gift items you’d like to buy by browsing sales fliers, catalogs and online stores that fit within that budget. The more time you give to planning, the less likely you are to overspend on impulse buys. Be sure to add people you may forget to the list like teachers, co-workers, and neighbors.

Don’t Shop Alone

Bring along your spouse or friend who will help keep you from getting a wandering eye for other items not on your list. They can help you keep track of what you need to buy and how much you are spending if you are susceptible to convincing yourself it’s okay to splurge here and there.

Shop Strategically

In addition to your list of gifts to buy, you should also create a list of which stores you need to visit. This will prevent you from driving around aimless, desperate to buy anything. Plan your visits in line with the sales dates to ensure you get what you need at the best price. You can also price compare online or visit stores that guarantee price matching. Keep copies of all the sales fliers to prove pricing.