Everyone knows its almost inevitable that youll gain a few pounds during the holidays.
But what about your finances?
Whether youre treating yourself or someone else, all those transactions can add up to some unwanted financial weight.
Carmen Mandato/ The Penny Hoarder
Many Americans even put themselves in debt over the holidays.
And those who did in 2017 averaged debt of more than $1,000, according toMagnify Money.
That doesnt feel very merry.
How to Make the Holidays Memorable and Less Expensive
1.
Create a Holiday Giving Plan
Just like Santa, you gotta make a list and check it twice.
Put anyone you plan on giving a gift to during the holiday season on the list.
Estimate how much you plan to spend and calculate your total gift-giving budget.
If youre overspending, make necessary adjustments.
Consider inexpensive and thoughtful presents like baked goods or homemade ornaments.
And dont forget to include spending for decorations, party clothes or potlucks into your plan.
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Shop Strategically
Youve already budgeted a set gift amount for everyone in your giving plan.
Take that list with you when you go shopping.
If you do, youll be forced to take from another envelope and avoid going over your total budget.
You wont have your debit or credit cards to lean on.
Skipping the brick-and-mortar crowds and shopping experience altogether has perks, too.
Shopping online saves on gas and maybe even dine-out costs.
Youll likely face fewer impulse-purchase temptations.
you might also avoid shipping fees by bundling purchases and you might earn cash back, rewards or Ebates.
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4.
Dont Shop for Yourself
The struggle is real.
Its so much easier to shop for yourself than everyone else.
But this leads to a downward spiral of spending.
Applying a similar approach to holiday festivities can help everyone feel a little less pain in the pocket.
Switching things up might create new traditions and some pretty great memories.
Maintain Savings
Balance holiday spending with saving.
Dec. 31 is the deadline to max out your 401(k) contributions for the year.
Add any bonuses and holiday money before the deadline.
Start on your money goals for next year.
Practice Gratitude
Expressing gratitude extends well beyond Thanksgiving.
Find something to be grateful for every day.
It can be as simple as fresh air or your pet.
Write it down in a journal or jot it in the notes on your phone.
Stephanie Bolling is a staff writer at The Penny Hoarder.
Shes saving money by making DIY gifts this holiday season.
Read herfull bio hereor say hi On Twitter@StephBolling..
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