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Smart Christmas Shopping Tips That Keep You Debt Free

Smart Christmas Shopping Tips That Keep You Debt Free

It’s a stressful time of the year for many people, with money being tight or having a lot of people who are relying on you for some cash and gifts to help them enjoy the festivities. To avoid being very broke in January, having a shopping plan and a spending budget is necessary. Know how much you’ll spend on each person, what you’re going to buy them, and pay in cash.

Here are some tips that can help you manage your money this Christmas period:

1. Make a shopping list

Write down the list of people you plan on buying gifts for. Critically consider who should be on your gift list and don’t be afraid to trim it. Start with your immediate family and close friends, and selectively add to your list from there.

2. Set a spending limit

Many people overspend on Christmas gifts by letting their emotions get the best of them. It’s easy to feel guilty when it comes to holiday spending, but don’t fall for this. Figure out the total amount of money you want to spend on presents, and divide it up among each person on your list.

It’s the thought that counts, not the price tag.

3. Pay in cash

The easiest way to not go into debt is to use cash instead of buying things on credit. That way, you’ll be forced to stick to your budget. If you cannot afford it, it’s better to avoid buying it in the first place. You’ll thank yourself in January when you don’t have any Christmas debts to pay.

4. Shop by yourself

If you shop alone, you’ll likely spend less money, especially if you have friends with poor money habits. A shopping partner in crime can distract you from your plan by convincing you to buy something unplanned and unnecessary.

5. Shop for sales at discount stores

To get the most out of your holiday budget check out the discount stores where you can find discounted items and great deals.

Give yourself the gift of starting the New Year with less debt and more money in your pocket.

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