Tuesday, December 27, 2016

6 Ways To Avoid Christmas Shopping Stress And Overspending

1. The key is in budgeting.

Have you really set aside money for you gift-giving this Christmas? Did you know that even without a Christmas bonus, you can (and you must) create a Christmas Fund which you can add to your holiday gift-giving budget? It can start at as small as 5% of your income per month.

Sometimes, the Christmas bonus gets short due to some unexpected expenditures in December that is why creating a separate Christmas Fund is advisable. Know more about my Personal Money Management System by clicking here.

2. Make a list of all the people you need to buy gifts to.

To save time, energy and money, first, decide who are going to receive gifts from you this Christmas. Some people respond better to wrapped gifts such as kids while some others prefer cash or gift certificates. Deciding who are the ones to receive wrapped gifts and who are the ones to receive cash and gift certificates allows you to focus more on shopping for the wrapped gifts since the latter is faster and easier.

3. Allocate a maximum amount for each person.

Since we are working on a budget, obviously, each person should be assigned a maximum amount too. The goal is to get the best gift for the person at a price not exceeding the budget.

4. Brainstorm gift ideas within the maximum amount. Or better yet, find a way to know their wish lists.

It’s the thought that counts! You may be working on a limited budget per person but that doesn’t mean you will just simply settle for “cheap” items. Sometimes, the person’s preferred item may fall within your budget. Find out what they like.

5. Plan where you will be buying the gifts.

Before you go to the mall, make sure that you already know the items you will be buying and where to best find them. By keeping a list handy, it will save you a lot of time and energy roaming around looking for the gifts. Also, it will lessen the possibilities of being tempted to spend on things that aren’t on your planned list – which happens a lot of times during shopping, Christmas or not.

6. Maximize the online stores.

There are online stores offering free shipping and discounts during the holiday season. Some of them may even wrap the gifts for you. This will surely save you time, money and energy. Maximize their presence.

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