5 Tips To Survive The Holidays 






5 Tips for Surviving the Holiday Season



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Its that time of the year again- The Holidays are upon us. It's easy to completely get consumed with the holidays. One thing that most people tend to get in trouble with year after year is not properly preparing financially for the holidays. Even though we all know they are coming, it seems to creep up on us out of nowhere always. Before you know it its Thanksgiving and then only a matter of time before Christmas, Hanukkah, and Kwanza.  Here are a few tips to help us all get through the Holiday season without the fear of severely going into debt that takes many months for you to get out.



1. Make a Budget





There are a couple different ways to set a holiday budget. You might want to establish a general spending cap, or try allocating a specific amount to each person on your gift list. Be aware, though, that while making a holiday budget is great, it can go sour in one of two ways:


    

  • Setting a Budget That’s Too Tight. While setting a tight budget always starts with good intentions, an unrealistic one can do more harm than good. Without a little wiggle room for last-minute purchases or enough cash allocated for your mom’s gift, you can end up very frustrated. In fact, you might get so frustrated that you just toss your budget out the window. To prevent this from happening, look over your numbers. Do you really need to spend $50 on wine, or can you cut back in order to allocate more money to gifts instead? Don’t just pick numbers out of thin air – really think things over to ensure that you make the right decisions.
    • 

  • Forgetting the Little Things. Gift giving is a huge expense during the holidays, but don’t forget the other costs you incur throughout the season. Parties, travel expenses, charitable donations, and holiday-themed activities can all add up to destroy a budget. If possible, add some money into your budget for unexpected costs so you’re not left scratching your head.
    • 




The way you create your budget is up to you, but one thing’s for sure: you need one. Create yours before the season hits full steam, and revisit it often to make sure you’re spending within your means.







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2. Give something homemade and from the heart



Showing up to a holiday party with a terrific, but costly, bottle of wine might seem like the perfect hostess gift. But, giving something homemade can still show your gratitude and enable you to save money during the holidays. Cookies, cakes and other baked goods can be a fantastic option. If you’re a crafty person and all about DIY, putting in a little elbow grease to make jewelry, pottery or festive ornaments is also a good bet and can contribute to your holiday savings. Giving something homemade also sends a warm friendly vibe to a holiday party. Almost anyone can go to the store the day of and buy a bottle of wine or great gift. It takes some effort and pre-planning to actually make something.



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3. Track Your Spending



Your budget does no good if you don’t effectively track your spending. Personally, I keep a separate Christmas fund in a dedicated bank account. This makes it easier for me to separate holiday spending from regular, day-to-day expenses. I also have my bank’s app on my phone, which allows me to check my balance and track my spending anytime, anywhere – even in line for the cashier.



Spreadsheets are also an excellent and accurate way to track your holiday expenditures. By establishing a budget and entering your real expenses, you can easily keep yourself on track. Just be sure to remain diligent. I find that if I can track my expenses in real-time. Be very careful here with maxing out of  credit cards. This i often where people get into trouble. It happens very quickly. Make sure you are aware of your budget and for whom you are shopping. That way you don't get totally consumed when in the store. Remember the holidays are a joyous time when you need to try to buy within your means and giving a gift from the heart really goes a long way. It does no one any good if you're completely in debt and can barely afford any of the gifts that you seemed adamant about buying. 



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4. Get to know your old friend “cash” again



In a fast-paced, digital society, one of the biggest things to get lost in the shuffle is cold, hard cash. For some, a plastic spending spree could bring on  holiday financial stress once the bills come in. One easy suggestion to track your spending, and save money during the holidays, is to use actual cash instead of plastic. It’s often known as the  envelope budget . The trick is to withdraw only the amount of cash for which you have budgeted. Once that amount is gone, resist the temptation to spend money you don’t have and call it a day. This means you may only be able to buy one new tacky sweater for this holiday season, but your holiday savings will thank you.



Spending cash allows you to keep within the allocated budget you set forth for the holidays. If this is the first time you're using cash only to buy gifts, it may come with some ups and downs. Understand that you may have forgotten some things or people on your list. Remember to learn from your mistakes next holiday season. Make your list early, check it twice and save throughout the year so that you're not withdrawing a large amount of cash that you ca n't afford right  before the holidays.



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5. Save for the Holidays all year long. 



Make sure you set realistic goals for your holiday shopping. Save accordingly throughout the year so that it;s not a huge financial burden at the end of the year. There are many apps  that allow you to save, Christmas clubs etc that help get you on track so that the holidays are not too overwhelming. Just when you think you have all under control there often seems to be a loophole that you just couldn't have planned for carefully enough. Make sure to start to save early and don't let your finances get out of control like some have. This only leads to outrageous finances charges on credit cards and paying twice and even triple the cost of what an item costs . Remember the holidays are a time for family, togetherness and making lasting memories- not only about shopping.



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