The holidays are a time for family, friends, celebrating—and unfortunately for many, overspending. Along with all that holiday cheer comes with it an onslaught of expenses that can quickly pile up.
Parents are especially prone to overspending during the holidays, wanting to give their children the best Christmas ever. In fact, 62 percent of parents admit that they overspend when holiday shopping.
For those trying to save, or making progress with a budget, overspending can be a devastating setback. So to help you stay focused, we’ve compiled our top seven tips for to help you stay within budget this holiday season.
Let’s face it, being on a budget is tough. It takes discipline, and you may feel like you’re constantly missing out on a lot of the things you want in life. But there’s being on a budget, and then there’s living paycheck to paycheck, where you’re so strapped for money that you can’t think further than the next time you get paid. It’s an endless cycle of stress.
Having a tough time making a budget and sticking to it? You’re not alone. Many people in your shoes switch to a cash-only budget. Sometimes they do this for just a few categories—say, groceries or gas—and other times they go all-in and commit to cash only for all expenditure, period.
Why do people do this? They say they feel different when they use cash. Cash forces you to practice conscious spending, to be aware of where every dollar is going because you can physically feel it, see it and see your stash diminishing!. In short, when you spend with cash you become hyper-aware of how much things really cost. The result? You naturally slow spending and are a heck of a lot more thoughtful about your purchases.
Take control of your money and improve your life.
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