by Dee Cain

Created on: November 08, 2010   Last Updated: November 09, 2010

The holiday rush is about to envelop us again. Now is the time to make a plan before finding ourselves in the middle of the holiday rush and buying on emotion instead of with our heads. Many of us find ourselves over spending, only to regret it after the glow of the moment wears off. Being prepared will not only take the stress off of the holidays, but also not create a crisis after the first of the new year.

Planning

Many of us have had life changing experiences recently. We've encountered financial situations which will make us reconsider our spending habits. One way to curb our urges to spend is to plan. Planning involves making lists, budgeting and adhering to those tasks. While we would love to give the newest, greatest item to a loved one, that may not be feasible in today's economy.

Make a list of those people you have felt the need to buy for every year. Scale down this list to the immediate family members. While it is nice to give each coworker a present, this year perhaps carrying in a treat of homemade cookies could save on the spending crunch.

Budgeting

Referring to the list of people you have to buy for, decide how much to spend on each person. Going overboard is easy when your caught up in the seasonal spin. We all want our children to be happy and get them the items they wish for, but not at the cost of going deep in debt.

Be honest with yourself on what you can afford. Don't feel guilty if you have to draw the line on what you can spend. There is no shame in limited gifts.

Use Cash

Using cash to make your purchases sounds obvious. If you leave the credit cards at home there is less chance of impulse buying, which is a massive budget blower. If we budget ourselves just so much for each person and carry just that amount, we are less likely to overspend. If you use a credit card be sure to factor in the fees and interest associated with the purchase. Those may send your budget in a tailspin. Paying with cash may save you money in the long run.

Comparison Shop and Shop Early

Once you have decided on what you would like to get someone, compare the prices at a variety of stores. Watch advertisements in the local newspapers. Don't wait until Black Friday to do your shopping. A great deal may present itself before the day after Thanksgiving. Local retailers may be having sales early on clothing, toys and appliances to boost their holiday sales. Consider doing your holiday shopping before the season's rush.

Gift Cards

If your considering gift cards,make sure the card is from a store frequented by the recipient. Many people receive gift cards but never use them. Often times they may shop in the store with the card and end up spending extra money just to use the card or not use the whole amount on the gift card on their purchase, thus the rest is usually wasted.

The main thing is to enjoy the holidays without the stress of the mad rush. Be flexible if you can't find that perfect gift, that's okay. Whatever you pick out will be fine. You'll feel so much better if you don't get caught up in the holiday rush. Consider it a gift to yourself.

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