Having troubles in keeping within your budget when shopping? Here are the top ten tips for the Holiday Shopping:
1. Pay cash. Paying in cash when you shop enable you to know where your money is going to. Also, you won’t find it difficult to overspend when you see how much you really have for your shopping. If you’re out of money, then you’re out of money. Credit card payments can make you lax on your spending and prevents you from keeping on your budget.
2. Know the enemy. If and when you’re going to pay using your credit card, use the one with the most favorable terms. hat may sound obvious, but many people carry as many as five bank cards in their wallets and don't always know what the interest rate is on each card.
3. Keep a running tally of your credit-card spending. Always check the account balance of your credit card after a day of shopping. Subtract all that you purchased from your credit limit to see your total spending. This ensures you still have enough money to pay the bill when it arrives.
4. Have a plan for paying off your bills. If you got loose on your spending last year, now is the time to cut back. To avoid frustrations, come up with a more realistic goal.
5. Get easy gifts out of the way early. It’s a good practice to set aside money for the different gifts you want to give on Christmas. That way, your budget won’t be overwhelmed during December shopping.
6. Make a list. Simple as it seems but this tip definitely helps a lot. You may write down the people you want to give gifts and the stores you’ll visit for shopping. It’s a more systematic way to get things done.
7. Think outside the box. Don’t just go for what you used to buy. Try to scout for less expensive things and you might be surprised what you can see. There are lots of alternatives and more fun.
8. Be creative with the kids. When your family is up for a trip or vacation, let your kids plan their excursion or itinerary. Let them help you plan for the trip. This is really exciting for them and you’ll be surprised what they will come up.
9. Look ahead to next year. f you came up short on cash this year, start an old-fashioned holiday-club account with a modern twist: an online savings account with a bank such as HSBC Direct or ING Direct.. You can easily set up an automatic transfer from your checking account each month, earn a competitive rate of interest, and have a tidy sum when next holiday season rolls around.
10. Count your pennies. We may overlook this practice after we pay something. But sometimes, there are errors in change. So count every penny as possible. Remember, every penny adds up to a dollar and 100$.
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