Holiday Shopping and Money

December 9, 2011

By Katie Savant, Government Relations Deputy Director, National Military Family Association


holiday treeWhen families think about holiday shopping, a budget may go out the window. Take some time to do a bit of pre-planning before you venture out to the mall, or you may be left with retail regret! Here are some tips to help keep you on track.

  • Create a budget and stick to it. Sit down with your family and discuss your holiday festivities and gift giving wishes. Try using a holiday checklist, such as a free online template, to help you track your expenditures.
  • Plan for holiday parties. Is there a gift exchange? Will you bring a dish to share? Think ahead of time about costs associated with holiday parties and include these in your budget.
  • Watch for hidden costs. Do you need to ship gifts? Are you mailing holiday cards? Will you purchase household decorations or wrapping supplies? Will you make any special meals?
  • Little gifts add up. Many people like to remember co-workers, teachers, service personnel, and others during their end-of-year gift giving. Handwritten thank you notes and homemade gifts are appreciated. Don't feel pressured to buy gifts you cannot afford.

Related Articles:

More Consumers Feeling Worse About Their Finances
Don't Increase Debt During the Holidays
Keeping Track of What you Spend and Budgeting
The Hardest Part About Getting Our of Debt

Tip of the Day

  • Written by Annie Cromwell | March 7, 2014

    #Saving for a house, car or tuition? Apply your #tax refund toward these goals. http://ow.ly/rrBJe

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