Ever cringe when looking at your bank account after doing your Holiday shopping? You’re not alone. Overspending during the holiday shopping season is an all too common habit. But this year, that doesn’t have to be the case. Professor John Petosa has shared his insights on how to best avoid overspending this year.
1. Just like Santa, create a list, check it twice and set a budget for each person on the list based on whether they have been naughty or nice.
2. Avoid impulse buying.
3. Plan to go shopping well ahead of the last few days when you may have to spend more because the cheaper nice items are gone and only the more expensive items are left.
4. Try to identify gifts for each person on your list before going to the store.
5. Shop online to avoid the Christmas frenzy and holiday spirit of spending more.
6. Use a credit card with a limit that you can afford and when you reach the limit, stop shopping.
7. Take out a certain sum of cash and use it to shop. When it ends, so does shopping.
This holiday season could be the year your overspending habit changes. Happy shopping and good luck!
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