This post
was sponsored by Regions Bank. All opinions are my own.
The holiday season is here and whether you are shopping online
or in-store, there is a big temptation to spend too much on gifts. This can
lead to a case of buyer’s remorse come January. Even if you haven’t been saving
throughout the year for the holidays, there are still ways you can prepare
yourself financially for the holiday season and beyond, into 2016!
There are 4 ways to help you prepare for the holiday season.
These four steps have helped me and many others get ready for all the holiday
shopping coming our way!
1.
Start a holiday savings account. We have a separate
savings account that we deposit money into monthly throughout the year. We set
a rate, $75 or $100 a month that goes straight into this account.
2.
Set a budget. Take into account what has been spent in
previous years as an average of what you should be spending on holiday gifting.
In this budget, I also include any and all holiday travel and parties I plan on
hosting.
3.
Know when to buy. The holidays are the best time of
year to take advantage of sales. Retailers are constantly competing against
each other and will offer amazing prices on items throughout the season.
Compare weekly ads, sign up for email savings and check online for coupons.
4.
Buy what you can afford. Just because something is on
sale doesn’t mean you have to buy it. Buy what you actually need or know the
recipient will like. Don’t buy “just because”, that will just make you spend
extra money on things you do not need.
The holiday season can be a very stressful time financially for
many Americans. The National Retail Federation predicts a 3.7 increase in sales
this year, with the average American spending about $786. I think that if you
have children, especially tweens and teens, you might even spend more. By
following the tips above, you can stick within a budget and actually enjoy the
holiday season. Remember, the holidays are meant to be spent with loved ones,
not wandering aimlessly around the mall in search of “perfect gift.”
For more advice on how to prepare financially for the holiday
season and beyond, be sure to check out Insights byRegions, where you’ll find financial guidance to move your life
forward.
These are such simple tips, but great reminders. I feel like people go crazy spending money and getting into debt this time of year. Doesn't seem worth it.
ReplyDeleteThat is such a great family pic! Saving for Christmas and setting a budget early is a great idea!! I've actually found the most savings by shopping thrift stores and garage sales and picked up brand new items for a tiny fraction of the cost. Hope you all have a very happy holiday!
ReplyDeleteIt really is SO tempting to over spend at the holidays. I have a 5 year old, and being a total Star Wars fan myself, it is very hard not to buy ALL the Star Wars things for him.
ReplyDeleteSavings wise, like Roxanne, we shop a lot at second hand stores, and I've found some awesome Mommy groups on Facebook that swap clothes, toys, all sorts of stuff. We've sold a bunch of things there, too, which has been great.
We tend to overspend during the holidays, so planning, making a list and setting aside a budget are very important. These are great tips.
ReplyDeleteGreat tips! That family photo is lovely too. I always try to set my budget for Christmas early and then although I wait until the last minute to usually get it all done, I tend to stick to the budget pretty well. - Jeanine
ReplyDeleteI definitely need to start a holidays saving account I am terrible with my money. At least this way I can establish that this is money to be spent only on Christmas presents.
ReplyDeleteSuch a great idea to have a holiday saving account. That way you can't go over budget. Love the picture!
ReplyDeleteIn an effort to avoid that buyer's remorse in January I'm making most of my gifts this year, or at least giving from what I already have. I'm hoping my small gifts will have more impact than the mass-produced one, but I wish every year we could forgo presents for my family's Christmas and just spend time together.
ReplyDeleteIt is so important to avoid the buyer's remorse that comes around after the holidays. I love the thought of a holiday savings account and would do so much better if I had one. My goal this year is to make a list and stick with it!
ReplyDeleteThat's a great idea to start a holiday savings account. I'm so bad and usually wait until the last minute to shop. I'm sure I could be smarter about my holiday strategy. Haha!
ReplyDeleteThis year I thought we would be doing better with planning for Christmas, but unfortunately we had several big house expenses come up. My biggest help is the list - stick to the dang list! It is hard, but I am doing much better. Of course I went out with my list yesterday and couldn't find anything remotely close to what I wanted...
ReplyDeleteI have had a few moments where I've felt buyer's remorse. I need to start a holiday savings account – that is a great idea.
ReplyDeleteA holiday savings account is so important! That's the only way we're able to do it!
ReplyDeleteYour family is SO cute! I just love the PJS :) Happy Holidays!
ReplyDelete