Believe it or not, the holiday shopping season is upon us, and most Americans are planning for a more expensive gift-giving season this year. Here are four ways to make this expensive time of year a financially successful one, while enjoying the magic of the holidays to the fullest.
1: Use up your old gift cards. 43% of Americans have at least one unused gift card, averaging $244 per person.* This is free money! Use those gift cards to pay for gifts or other holiday expenses.
2: Plan, plan, plan! Early budgeting prevents last-minute spending. Write down everything you plan to buy and stick to your plan.
3: Avoid credit cards. It’s easy to get into the mindset of “I’ll pay it back later.” This is a painful “later.” Instead, try to spend cash and use money from your checking account.
4: Prioritize experiences. Remember, most people have too much stuff. Instead of buying someone a gift, take them out to dinner or to see the lights, and enjoy hot chocolate together. Time is our greatest gift!
These approaches will help you see the true meaning of the season as you enjoy time with loved ones, reduce impulse-driven overspending, and connect with loved ones.
Bankrate, 23 Sept. 2024, https://www.bankrate.com/credit-cards/news/gift-cards-survey/
