3 of 14

Write now Article Tools

Spend Less, Enjoy More This Holiday Season

While Halloween kicks off the two-month season of fun, joy, and festivities, for some it can be a time of despair. Use these tips to help make your holidays merry and bright.
_________________

With consumer debt and mortgage eating up more than 100 percent of American's after-tax personal income, it's no wonder many of us fear the winter holiday season that starts in October. It's sad this once joyous time of year has become such a dismal ordeal for many of us. The time we're meant to celebrate with our families has become a year-end burden.

Like most people, I've been known to splurge on everyone and everything-including decorations, expensive food items, parties, party dresses, and, of course, gifts-this time of year, all in the name of good fun. But how much fun is it really when you start to dread the holidays?

You can still enjoy this magical season without getting depressed or bogged down with stress, credit card bills and debt, if you:

Create a budget for anticipated holiday spending. Ever heard of Christmas Clubs? These are low interest accounts that allow you to save small amounts-like $10-20 a week-in a separate account dedicated primarily to holiday spending. It's really the best way to keep your sticky fingers off the cash and for a few dollars a week you can build a substantial holiday fund. Starting in January with just $10 a week, you could save about $450 by Thanksgiving. Or $15 a week would net about $700 and so on. And if you don't spend all the money you can keep the balance in the account until next year.

Make a gift list (and stick to it). It's easy to get caught up in the spirit of giving and go overboard when you're around all the holiday sights, sounds and smells that shop owners use to tempt us. By making a gift list, you can plan your gift giving by name and dollar amount. One catch: you must follow the list.

Shop early and strategically. I know, last-minute shopping can be fun, there are a lot of good deals and holiday excitement abounds, but invariably it will cost you more (ever heard of impulse buying?). Pick your shopping dates right now and circle them on the calendar. When you've bought everything on your list, put your treasures away and wait until you're in a festive mood to wrap them. It will be more fun and, besides, after all that wrapping, you won't want to buy anything else.

Use the "two-day plan." If you see something you might want, put it on hold for two days, then consider whether

• 1
• 2
• next page >>

Add your voice

Know something about Tips to avoid spending too much during the holiday season?
We want to hear your view. Write now!