A shopping hangover is almost as bad as a real, alcohol-induced one.
And too often, I get carried away buying presents for friends and family.
Why does my best friend need a $25 pair of socks?
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Why does my mom need a $30 candle?
Its going to melt away by the end of the month.
And its not just overspending by $10.
Were talking about an average of $263 more than expected.
That, my spending friends, is quite sobering.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
But why do 76% of those folks still overspend?
Here are some of the main bank-draining factors:
But I have to toast my fellow millennials out there.
In fact, they actually spend less during the holidays.
How to Avoid Overspending During the Holidays
Save the hangovers for New Years Day.
Create a Holiday Shopping Budget
Yeah, yeah.
Of those who make the budgets, tons of us totally blow it.
(If thats you, see all of the safety nets below.)
However, if you havent created a holiday spending budget before now, do it.
Be Wary of the Plastic
Cash is a great way to keep you accountable.
TD Banks 2016 surveyfound 61% of holiday shoppers use credit cards especially for purchases more than $20.
Another 55% use debit cards.
Although this might help youearn some rewards points, consider holding yourself accountable with that cold hard cash.
Yes, Im totally guilty.
If I come across something on sale, I cant help myself.
If you need help deciding whether something is worth the splurge, use ourshould you buy this flowchart.
Its great for holiday shopping, but I keep it saved on my phone year-round.
Dont Forget the Wrapping Paper
In my family, wrapping paper is an afterthought.
However, there are plenty of ways to get around those way-too-expensive rolls of tacky wrapping paper.
Consider, for example, printing your own.
I grew up running into our family room wide-eyed at the open gifts.
It was exciting and immediate.
So dont feel obligated, Santa.
Think about it: Do you really need anything that comes in your stocking?
Sure, it might be a tradition, but stick to the essentials instead.
Get Crafty
Your best bet might be to ditch holiday shopping entirely.
Instead, make a present.
Handmade presents always mean more to me anyway.
Check outthese 12 DIY Christmas gift ideasfor a few you might make yourself.
Remember: Its the Thought That Counts
Dont worry so much about overspending for that perfect present.
(Cough, cough: Theres 71% of you out there!)
Instead, consider this statistic: Only 48% prefer to receive purchased gifts.
Some people dont actually have cold, hard consumer hearts.
Carson Kohler (@CarsonKohler) is a staff writer at The Penny Hoarder.
Read her full biohere.
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