Bad Habits, Bad Budget

Shopping habits to avoid this holiday season

Tis’ the season to spend too much money. The holidays are upon us, and that means your bank account is likely bracing for the impact. Luckily for you, it doesn’t have to be this way. If you want to get through this holiday shopping season without going broke, try avoiding the common shopping pitfalls we’ve listed below.

Going in without a plan

Holiday shopping without a plan is a recipe for disaster. The holidays are all about the joy of giving, so there’s no doubt you could find “a little something” for every member of your family, neighbors, teacher, dog, etc. That’s why it’s a mistake to go shopping without a concrete strategy. You walk into a store just to see what they have and you’re likely to walk out of the store having spent way too much. Before you start holiday shopping, make a (short) list of the people you want to buy gifts for and — if possible — ideas for each. The more detailed your list, the less likely you’ll overspend.

Spending on yourself

As Us News reports, one quick way to go broke this holiday season is to spend on yourself. If you’re already shelling out cash on gifts for others, you don’t need the additional bills that come with gifts for yourself. Wait until after the holidays — and after the bills are paid — to buy something for yourself. Then, preferably, do it with gift cards you’ve received!

Failing to Shop Around

As a smart consumer, you typically shop around for the best price on products, right? Well, why would the holidays be any different? The problem is that the holidays can be hectic, so it’s easy to bypass comparison shopping. You want the shopping done, even if it means spending more. Don’t fall into this trap. Do your due diligence and shop for the best prices. When the holidays are over, you’ll be glad you put in the extra time.

Chris O'Shea

Powered by: SavvyMoney