Tips for Keeping Holiday Spending Under Control

The holidays can turn into a very expensive time of year! But it doesn’t have to be that way. By following these tips, you can make sure you aren’t drowning in debt by New Years.

Set A Budget Now

Figure out who you have to buy for and set a maximum amount per gift. Stick to your budget!

Give Homemade Gifts

If you are crafty, consider making some of your holiday gifts. Handmade gifts are often seen as more thoughtful than store bought ones. For those that you receive unexpected gifts from, consider giving homebaked goods, rather than a gift.

Avoid Charging On Credit Cards

Not only will you end up paying a lot more if it’s not paid off right away, you generally will spend more as well. Only spend what you have. No one wants you to go into debt just so they can have a really nice Christmas present.

Draw Name For Gifts

Rather than buying for every person in your extended family or your group of friends or coworkers, suggest drawing names. Most people will be relieved to only have to buy one gift. For extended family, the adults can also make the decision to only buy for the children.

Start Saving Early

Many banks have Christmas Club accounts. It is a savings account that you have a certain amount deposited into each month or each payday. Then when Christmas rolls around, all of your money for gifts is waiting for you and you don’t have to put a huge dent in your monthly budget.

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Stacey Abler
Stacey's husband joined the Army in 2003 and was medically retired after four deployments. She enjoys sharing her experiences and expertise around Army life while continuing to support Army spouses and families in their military journey.

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