Plan For Christmas So You Don’t Overspend

Christmas is only a few weeks away. If you haven’t done any planning yet, you better get a move on soon! Otherwise, you’re likely to fall into the trap of overspending. Keep in mind, we’re not just talking about money here. When you don’t plan and organize, you not only spend more money than you intend to, you also end up spending more time and effort.

It’s not that we don’t think that Christmas is supposed to be a time of giving. It’s simply that the Christmas season should be a haven of happy memories, and not a cause of stress, anxiety, an empty wallet, and a lean bank account.

To make sure that this Christmas will be the joyous occasion that it ought to be, your accountant in Billings, MT offers a few tips to help with your gift-giving plans.

Save on money this Christmas

Make a list – Before doing any shopping, make a gift list, as well as a card list. This will ensure that you do not overlook anybody, risk hurting someone’s feelings, or go on a last-minute (usually over-budget) shopping rush.

Set a budget – One of the most logical ways to avoid overspending is to come up with a budget, and stick to it no matter what.

Come Up with a Theme – Especially for those you are unsure of what to get for Christmas this year. Having a theme might make gift-picking a little bit easier and likely more cost-effective too because of the possibility of buying in bulk or volume.

Bring out your Creativity – With so many DIY tutorials, finding a gift that you can do yourself is no longer a daunting task. More than just saving on cost, sometimes a personalized gift can turn out to be the most special because it speaks volumes about how important the recipient is to you that you were willing to spend extra time to make the gift, instead of simply buying it.

Make the most of Black Friday and Cyber Monday – Black Friday and Cyber Monday are undoubtedly the best sales events of the year (The time between Black Friday and Christmas makes up over 30% of some store’s annual revenue). Maximize your savings by buying at least half of your gifts during these events. While you’re at it, why not treat yourself to great deals as well?

Save on time and effort

Embrace e-Commerce – Gone are the days when shopping requires a trip to the mall. With the advent of online shopping, life has become made so much easier. No need to dress up, drive through traffic, fight over parking space, and face the overwhelming holiday shopping crowd. Instead of physically going from store to store, try browsing through different online stores instead, and shop from the comfort of your living room.

Go out on Weekdays; Stay Home on Weekends – Spare yourself from the usual weekend rush. Do your mall shopping during the weekdays, and use the weekend for what it is made for rest and relaxation.

Wrap Gifts Immediately – Instead of completing your gift list before wrapping, why not wrap immediately after buying? Try it and you’ll soon realize that it’s actually faster, easier, and less tiring compared to marathon gift wrapping.

Plan Now to Save on Christmas Shopping

Start with your Christmas planning now, while there’s still plenty of time. And remember, as cliché as it may sound, when it comes to giving, it’s still the thought that counts, and not the price. So let the Christmas season bring out the best in you, without having to overspend on anything.

If you do get in over your head, don’t worry, you’re not alone. Millions of Americans will overspend this year. Just make a plan to get out of that holiday debt. One way is to maximize your refund. Practical Taxes can help you get that refund.