Spend Less for a Jollier Holiday

It doesn’t take much to overspend when the holidays roll around. But, after the presents are opened and the wrapping paper disposed of, your own “gifts” could be a pile of bills and buyer’s remorse. With a little planning and a dose of self-discipline, you can enjoy the holidays debt free.

Set Limits —and Stick to Them!

Don’t spend a single cent until you have a budget in place. Whether you set aside an amount of money to spend on all gifts or assign a per-person spending limit decide on your budget before you hit the mall or the computer.

Cash is King

It’s easy to forget about your budget when you’re carrying credit cards, especially if your favorite stores are having holiday sales. Leave your cards at home, and make it cash or debit card only when you’re shopping at retail stores. And, before you shop, come up with gift ideas for every person on your list so you’ll be less tempted to buy items on impulse.

Curb Your Enthusiasm

Shopping for specific items online allows you to easily compare prices at different websites and reduces the temptation to buy extras that aren’t on your list. If you pay online with a credit card, subtract the amount from your budget, and remember to pay off the balance when you get the bill.

Give Up Small Things

Want to generate more cash? Several months ahead of the holiday, try eliminating small expenses, such as picking up coffee on your way to work or buying lunch. Then add that money to your holiday savings account.