Family and Consumer Sciences
Maryland Cooperative Extension Service

Holiday Spending Tips

The Consumer's Almanac
Consumer Credit Education Foundation
Washington, DC

$ Save in advance.

 

It sounds simple - and it is. You must discipline yourself to save a few dollars from each week's paycheck during the year. If you aren't disciplined enough to save regularly on your own, consider joining an interest-paying holiday savings club at your bank or credit union.

 

$ Moonlight.

 

Taking on a part-time job for a few months, or working overtime, is a great way to earn extra spending money in time for the holidays. Even better, work a little extra here and there throughout the year, saving most, if not all, for holiday expenses.

 

$ Draw names.

 

If your list of family and friends is long, suggest this approach to gift giving.

 

$ Take advantage of seasonal bargains.

 

Many stores begin their year-end sales during the holiday season. Be alert for bargains, especially if bad weather causes sales to be slow.

 

$ Consider shopping by catalog.

 

Many find that catalog shopping helps them stick to a budget - they're not seduced by the millions of choices available in stores. An added advantage is shopping from home and avoiding crowds. However, shipping charges will need to be included in your budget.

 

$ Allow time for planning and comparison shopping.

 

Keep your budget in mind and shop carefully to get the best selection and price.

$ Borrow wisely.

 

Credit cards and loans are frequently used to make up for a lack of holiday cash. Both allow you to repay the amount owed over a period of time, although you pay for this advantage in finance charges. Remember to budget for the credit card and/or loan payments you'll have to make.

 

$ Budget your purchases.

 

Contact the AFSA Education Foundation for a free holiday budget chart to keep track of who's on your shopping list, how much you've budgeted, gift ideas, and estimated expenses.

 

Taking control of your holiday spending helps you avoid

seasonal stress, and allows you to enjoy this time

of year with family and friends.

[ MONEY 2000 ]

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