The end of the year is my favorite! With the holidays up ahead and companies giving out bonuses, it absolutely is the best time of the year! But, I’ll have to admit. It is during this time where I always end up spending way too much money. So before the holiday season washes all over me, I am listing down some tips that will help me (and you) on how to save money and NOT overspend this holiday season.
Plan! Make Lists
I am guilty of NOT making lists especially when it comes to money. I always end up having no idea where my money went. This year, I am planning to make lists of where exactly my money will go and also make lists of what presents and how much I am willing to give out.
Discipline! Stick to your budget
Now that we have a plan, it is super important to actually stick to it. Planning will get us nowhere if we don’t follow through with it. Practice self-control to avoid unnecessary buys (or splurges).
Cash! Don’t use your credit card
This was a mistake I am so guilty of. Using cash would help you visualize how much you have left and how much you can spare without all the hassles of checking your bank accounts. Now I know this tip is not the best considering long lines in ATM machines during the holidays but believe me, this tip will save you from having a heart attack. If you find it absolutely necessary to use credit cards though, go back to numbers one and two.
Save! Have multiple bank accounts
I have been practicing this for almost a year now and I can say this is such a helpful tip. I only let myself have enough money to survive until the next paycheck.
Think! Wants vs Needs
Do you really need a new iPhone? Always think long and hard before buying something. Most of the time, you don’t really need it, you just want it.
These tips might be simple but believe me it is easier to overspend. Hopefully this year I won’t go over budget!!!
not so Fun fact: For the past two years, I always end up having to pay a humongous amount during the first quarter of the following year because of my credit card. THIS YEAR WILL BE DIFFERENT.