Nursevillage.com - Your Personal Side : Your Finances : Don't Let the Ghost of Christmas Presents Haunt You All Year.

Tis’ the season to be…broke? For many of us, this is just a sad and unfortunate reality. It’s really easy to get wrapped up in the hoopla of the holidays and then one day you open your wallet and realize it’s empty. All of the frenzied shopping, lunches with friends, and other December activities have shot your budget right out the proverbial window. For the independently wealthy, avoiding holiday debt may seem a rather petty discussion, but for the rest of us, let’s talk budgeting!

Make Your List and Check it Twice

First, you have to decide up front for whom you want to purchase gifts. Jot down a list of everyone you wish to remember during the holidays. By making a list, you not only stand a smaller chance of overspending but you can also cut down on those last minute trips to the mall to get something for Great Aunt Fritzie who totally slipped your mind. Your list should include not only everyone you plan to buy for, but also those other “pop-up” expenses at the holidays. Are you going to a holiday party and need to buy new shoes? If you are sending holiday cards, don’t forget about the cost of postage. All of these things have to be accounted for or your list and your soon-to-be-budget will be sunk from the get-go.

Are there any ways to cut down on how many people you need to buy for? Try drawing names among relatives or going in together with someone else to purchase certain gifts.

I Have a List…Now What?

Now that you have the “who” it’s time to decide the “how much”. You have to set a limit to your holiday spending. Once you do, don’t exceed it. It’s all too easy to catch the holiday spending fever. If you were one of the few who started planning for the holidays last December, you should already have the cash in hand to start your shopping. However, if your pockets are empty, here are some suggestions on rounding up some extra holiday dough.

If you have to use credit cards, look for ones that have 0% offers on balance transfers or new purchases. Many companies offer these special rates for the holidays, but beware that these rates will go up and it’s important to determine how long you have to pay back your debt interest free.
Look for credit cards that actually pay you to use them. Some cards offer point accrual systems where you earn credits for using their card. Internet sites like www.creditcardsearchengine.com or www.bankrate.com provide a one-stop-shopping center for cards that offer different incentives and low or no interest deals. Be careful to read the fine print to avoid hidden charges or fees.

Use the Internet to Save Some Cash

Now that you are ready to start shopping, there is no need to pay full price on anything. You can save even more money by checking out some of these sites to find the best bargain prices on the items you’re looking for.

Many of these sites offer not only the best prices on items, but also other incentives like free shipping and additional money saving coupons.

The most important thing that we should all do is to establish our budget and start planning for next year. Now’s the time to start saving for the 2004 holiday season. Next year at this time, you’ll be enjoying It’s a Wonderful Life and relishing in the fact that you have tackled your holiday money crisis once and for all.


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