People tend to spend more money than they are supposed to during Christmas season. This is because during this time of the year, people have extra money to use like bonuses, 13th month pay, and cash gifts. Here are a few tips on how to avoid the holiday overspending:
1. SAVE. Don't spend all the extra money that you have. It is wiser to save some of it for your future goals.
2. ALLOCATE MONEY FOR GIFTS. Because it's Christmas, we feel generous to give everyone a gift. But don't just buy right away. Determine how much money you want to set aside for buying gifts. You can also start saving on a monthly basis for gift allocations next Christmas.
3. CREATE A GIFT LIST. Once you already have the budget, create a list of who you want to give presents to and indicate a price limit on each gift so you will not go overboard your budget.
4. STICK TO YOUR LIST. When you already have your list, shop for thse gifts and stick to your list.
5. PLAN YOUR MEALS. If you are married, you can save on Media Noche and Noche Buena by planning on where you are spending your Christmas and New Year. If it is with relatives, you don't have to cook everything for everyone. Ask the host on what food they want you to bring for the celebration. Or you can ask your in laws and siblings to come over and bring some food to celebrate together.
6. SLOW DOWN ON FIRECRACKERS. There are cities that do not allow firecrackers. If you are living in one, lucky for you because you will not spend money on it. But if you are living where firecrackers are allowed, don't buy everything just because you want to impress your neighbor what awesome fireworks you have. Be responsible also when using firecrackers because they can cause house fires.
7. BUY QUALITY DECORATIONS. If you plan to buy a Christmas tree, choose the tree that is easier to install and uninstall. Buy some ornaments also that you can still use in the next Christmas to come. Keep them in boxes after Christmas to preserve the quality and form.
MERRY CHRISTMAS EVERYONE!!!
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