4 tips to avoid going into debt this holiday season
The average American planned to spend almost $900 last year on holiday gifts, and that number didn’t even take into account the money spent on entertaining or going out.
You can prepare for this holiday season and assure that you end up with zero debt, just by using cash you’ve wisely stashed:
Have a plan. Listing exactly who you need to buy for and how much you want to spend on each person will help you create a budget ahead of time. Start by deciding how much you can afford to put aside each week from now until the holiday season, and use the total amount as your guideline.
Add to your pool of money. Working any overtime between now and the holiday season? Increase your holiday savings by adding extra cash you earn or receive from an unexpected source—also think eBay selling or a garage sale.
Stretch your gift-giving dollars. Have a ton of friends and family to buy for? Think about asking your various gifting groups to institute a “Secret Santa” so everyone in, say, your immediate family needs to buy only one nice gift for one other person. If you’re worried about going over budget, odds are that others are as well. Also, shopping close to home can mean scoring bargains, helping your local economy, and saving on gas.
Take advantage of technology. Visiting sites like Google Shopping, NexTag, and PriceGrabber® to compare prices before heading out to shop can also help you score big savings. And if you shop online during Free Shipping Day (December 16, 2016), you’ll save even more at participating sites.
* Independent Bank is not recommending any specific website, and the customer is responsible for researching the privacy and security policies of the website to determine if they would like to proceed with use of their services.
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