Gearing Down For the Holidays

If you glanced at the title, you might be wondering why we didn’t say ‘gearing up’ instead. Well, the economy might be roaring, but that doesn’t necessarily mean your wallet is. With holiday season coming up, you have a lot to do and also a lot to buy. There’s food and parties to go to. There are decorations to update, and cards to send out, and that doesn’t even count everyone on your shopping list.

So as this holiday season kicks into high gear, it may be time for you to gear down. Here are some ways to do it:

• Plan out your holiday budget ahead of time and make sure you stick to it. It’s sort of like making a list and checking it twice.
• Take advantage of early bird and off-season sales. No, you probably don’t need a Christmas tree in July, but you’re likely to find a great deal on it.
• Try making instead of buying. Sure, creating a new tablet or a high-definition TV may be beyond your skill, but there’s no reason you can’t make festive decorations or holiday treats from cheap raw ingredients.
• Use a prepaid debit card when you go shopping. It has a set limit and when it runs out, so do you. The set limit means you can’t go over budget even if you want to, and it also cuts down on those impulse buys that can break your bank account.

The holidays can take a pretty good bite out of your finances. So if you don’t want to have a sad face when the January bills come due, try a little gearing down for the holidays.