What is a budget’s worst enemy?
The Holiday Season!
Hopefully you are prepared with extra funds set aside for this time of year because from now on until the end of the year, everywhere you look, there will be some kind of a sale.
Some kind of advertisement that lures you in to thinking that you absolutely must have it.
Marketing experts are sneaky sneaky. They know how to push through to your weakness.
But whatever you do, don’t give in to it!
If you know you tend to overspend AND you know that you can’t afford to, this information is…
FOR YOU!
I get it. I love sales. I love getting a bargain. I love deals! And with online shopping so readily available, it makes it impossible to not be tempted to buy something all in the convenience of your own home.
And if you don’t stay disciplined, you will find yourself putting a way bigger dent on your bank account than you can really afford to.
Let me help you with some ways to do that.
Follow these tips to make sure you stay on track and prevent yourself from going on a shopping frenzy only to wake up one morning after the holidays are over and see how much money you overspent.
- Make a list. Write down all the people you would like to purchase gifts for and as you come across sales, buy with them in mind only. I know how tempting it is to want to purchase things for yourself but YOU MUST RESIST the urge to do this.
- Be realistic. You know exactly how much money you are capable of spending. Take that amount and drill it into your head and don’t spend more than that. If it helps, keep a note on your phone with that amount and deduct from it any amount you buy in gifts. That way, you have a real time running total.
- Find an accountability partner. Once you determine this amount, tell someone who you can trust to keep you accountable to stick to your number. Someone you can call to talk you out of it when you are tempted to purchase something you shouldn’t.
- Be clear. It’s super easy to get distracted from our shopping list when we come across something that we would like for ourselves. But let’s be clear and honest with yourself and before you decide to buy something, ask yourself the question, “Is this a need or a want?” “Am I going to die if I don’t purchase this thing right now?” If the answer is “no”, then you don’t need it. You have to remember that you have a whole list of people to buy for so if it’s a want, it can wait until after the holidays when you have accumulated some extra funds to spend
- Stick to the plan. Resist temptation. Fight the urge. Quickly buy the presents as soon as you can and stay away from the stores or online shopping. There will always be sales on stuff. And hey, if you end up with extra money after buying everyone their gifts, then treat yourself to something with the remaining amount.
If you know you always spend too much money during this season and end up resenting yourself for it later, then do yourself a favor and be in control of it this year.
It’s awesome to be the person that has tons of gifts to share. But guess what, it’s not so awesome when you’re the person that had to rack up a huge bill because of it.
It just is not worth it.
So remember, know your limits and stick to it!
You will thank me for it after the holidays are over and you still have money in the bank to pay the bills.