Keep On A Budget This Holiday Season

Did you survive Black Friday? Small Business Saturday? Cyber Monday? Pre- and post-Christmas and holiday gift-buying days? Or perhaps buying those gifts all year round? As Laura Hendrix of University of Arkansas Extension observes. 

“Holiday gift gifting can be a major stressor that time of year,” she pointed out.  “I think people put a lot of pressure on themselves.” 

So even if you have done your fair share of holiday shopping already this season, take a moment and consider. 

“Really thinking through what your budget is and the smartest way to use the money that you have,” Hendrix said. 

Don't Let Your Enthusiasm Get The Best Of You

After all, it is easy for many of us to get caught up in the holiday spirit. 

“Wanting to make the holidays special for our friends and family, and that can lead to overspending,” Hendrix said.  “So that kind of enthusiasm around the holidays could end up with debt problems or even more financial stress if you're having trouble making regular ends meet because you overspent during the holidays.” 

So having a spending goal up front, even now if you are already in the middle of holiday gift shopping, can help. 

“As consumers, in addition to already knowing what our spending limits are,” she pointed out.  “If we're shopping for holiday gifts, it's a good idea to kind of have in mind beforehand what you're looking for and who you need to buy gifts for.” 

And if your shopping consists of bargain hunting, Hendrix says doing homework will help you understand if that deal is truly a bargain. 

Is It Really That Good Of A Price?

“What is advertised as a discount price may not really be that great of a discount. So, knowing what the regular price is and doing a little shopping around in price comparison, especially on the ticket items before you even go to the store, is a great thing to do.” 

Doing on-line holiday shopping?  Make sure you use a reputable retailer that offers secure payment methods. 

“We always recommend that people who are shopping online that you log out of accounts and close browsers when you're through with the transactions,” Hendrix stressed. 

And what if you are shopping at a particular store, brick or mortar or on-line, where an item is only available while supplies last? 

“So if you're not there in time to get that item, can you get a voucher? Or if you find the item on a across somewhere else, will that place price match?” 

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