The thought of making merry is top priority in the holiday season with the only downside being worries about mounting expenses, and when it comes to shopping you are more than likely to bite off more than you can chew. Here are tips the experts suggest to ensure you don’t wake up with a holiday hangover in the New Year.
Decide a definite budget for this season
See what you can afford without compromising too much on basics and decide a budget that will contain expenses realistically.
The best way is to keep money aside for the essentials like mortgage, rent and utilities before zeroing in on the holiday fund. Then see if you can sacrifice something like the expenses you earmarked for travel, and divert those funds for purchasing gifts. What you need to ensure is that you do not key up other expenses by overcharging your credit card to compensate for what you sacrificed.
Reduce the gift list to the inner circle only
Unlike Santa you haven’t taken a contract to smother the whole world with gifts, this time restrict the gifts to your immediate circle and gift home baked cookies or cakes to all others so as to keep everybody happy.
Spend as per your financial status; don’t spend like a king only to live like a pauper
Set aside worries what others make think if you cut expenses on gifts, everybody has gone through the grind; people would love a greeting or a kind word if they are exchanged warmly. If you can’t keep on gifting like your parents did last Christmas, you should feel no pressure to follow suit.
Keep an eye out for coupons, coupon codes and discounts
Whether shopping online or in malls do some studious research on coupons and coupon codes as they are your gateway to really good bargains this season. Use them as often as possible and watch the dollar savings counter racking up real fast.
Paying a visit and spending time, not money on your near and dear ones.
Parents, good friends and close relatives would be less particular about gifts than your personal visits that bring cheer in their hearts. These visits count a great deal. Make up for smaller gifts with bigger hugs and warm greetings.
The dollar a day saving that makes up for purchases
If gifts are irresistible and have to be purchased promise yourself you will cut their equivalent cost from some item of budgeted expense like a dine out or the sacrifice of a daily coffee latte
Try personalizing gifts and give them a creative flair
Expensive gifts can be replaced by thoughtful creative gifts that people really appreciate. If for example your brother is an avid do-it-yourself man and loves tinkering with his bike buy him inexpensive tool accessories that will make his job easier.
Do group activities instead of spending on presents
Your friends would love it if you plan a grand get together at your place or theirs where everyone brings along some special item of food and you can splurge on the wine and cakes. When everybody contributes, the celebrations become warmer and more enjoyable.
Use the car equity loan for financing big ticket purchases you otherwise can’t afford
You can use the loan for vehicle title wisely to purchase the things you craved all year long and which are now on sale at a huge discount. Through the auto equity loan you will be able to raise an amount equal to around 60% of the commercial value of your car. The pawn car title loan will only require that you submit the collateral of your car title papers for the duration of the loan, and the loans can be availed even if you have bad credit. The pink slip loan will charge less than 25% APR interest but this is small change compared to what payday loans charge for doling our smaller loans. The auto collateral loan can be paid in lower amortized monthly payments without straining your budget. Treat the loan as a personal gift and smaller sacrifice in the short term for managing your expenses with discipline.