Holiday shopping can be a budget breaker or a budget maker. How? Let’s review some tips provided by SouthEast Bank.
- Set spending limits: Don’t feel pressured to overspend, but set a budget based on what makes sense to you and your personal relationships. Once you begin to estimate how much you want to spend per person, you can get a general idea of your total costs and start setting aside a seasonal savings stash.
- Buy for one instead of all: One way to enjoy the holiday season while staying on-budget is to celebrate with Secret Santa or White Elephant exchanges. This way, you purchase one gift rather than one for each member of your group, typically sticking to an agreed-upon spending limit.
- Compare prices before buying: It’s easier than ever to compare prices from different stores or online sellers before acting on your shopping list.
- Take advantage of seasonal pricing: Once you have your shopping list and your preferred retailer, look out for annual sales windows, such as Black Friday, to see if your item will come down in price or get discounted shipping.
- Share an experience rather than a gift: If you have a person who’s hard to shop for, consider gifting them an experience.
- Give toward a shared cause: The end of the year is a popular time for people to give to causes they care about.
Final considerations: When we don’t feel prepared, holiday shopping can put a dent in our wallet, but you don’t want to feel an even bigger dent by compromising your personal information. Be careful with where and how you shop, and follow cybersecurity practices to help protect yourself from scams and fraudulent charges.
See the full article here.
Your financial journey starts with SouthEast Bank.
Olivia Johnson is marketing strategist for Southeast Bank.
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