Managing money during this time of year can be stressful for a lot of people and with the Christmas and New Year coming close by, the money is obviously overspent.
Parents with children under age 18, feel pushed to spend more than they can afford. Without making good financial decisions from the beginning of the season can overtake many people’s wallets.
Here is how you can manage your account during the December holidays;
Have a chat- Talk to your family and friends before about holiday traditions. You can decide to do the party before or post pone it to after Christmas. Maybe even they’ll be relieved that the obligatory gift-giving can end.
Set budget limit-An overall budget is helpful, but a budget for each person on your list will be helpful in managing the amount you spend for the family as parents.
Don’t over give- The spirit of generosity during the holidays can be contagious, but you really don’t have to purchase presents for everyone you know instead, consider creating homemade gifts for those close to you or asking a large group of friends or family members
Set your own expectations- Give what you can afford. Do not give what you believe what one deserves, gift equal, not whatever unrealistic measure might push you toward overspending.
Be strategic about what you buy and when- Some shoppers like to check everything off their list on high-profile shopping days like Black Friday you’ll get even better prices on items like toys and outerwear if you wait until later in December.
Leave the token presents- If you want to appreciate someone, write a heartfelt note. It will reduce your budget and help you avoid overspending for mere things.