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The holidays can be stressful, but if you make a plan, they don’t have to stress your finances. These tips can help you avoid busting your budget during the holiday season.
Develop a budget for holiday spending and make sure to include not only gifts, but other expenses such as travel, entertaining, decorations, cards, paper, shipping, and even higher utility bills for lighting and other decorations.
- Make a list and compare prices. Take advantage of sales on items you already plan to purchase to avoid impulse buys.
- Use credit wisely. Credit cards are convenient and offer purchase protection, but they may also encourage overspending.
- Beware of holiday shopping scams. Fraudsters are especially active during the holiday season.
- Be creative. Sometimes the best gifts don’t come from a store.
- Pandemic-related shortages and shipping delays persist. Shop early to make sure purchases arrive on time, and be aware of ordering and shipping deadlines, which may be earlier this year.