Financial Tips for the Holiday Season


CapitalOneMainIt has happened to all of us – suffering from the January  “financial hangover” when holiday shopping is over and New Year’s Resolutions kick in. Let’s face it, it is very easy to get caught up in the holiday hustle and bustle and easily lose sight of spending within your means. There are so many parties to go to, gifts to buy, and the lure of all those great sales. You know the sales where the deal is so good you get one for yourself and one for your sister’s Christmas present. You go in thinking you are saving and the next thing you know your cart is full of things you didn’t really need.

This year to avoid the January “financial hangover” and start off 2015 on the right financial track, here are some things you can do to keep your holiday spending under control:

  • Create and Stick to a Holiday Budget: Financial planners recommend spending no more than 1.5% of your annual income on holiday spending but you can even go less than that if you spend wisely. To create your holiday budget include all holiday spending items from presents, gas for travel, holiday photo session, holiday outfits, greeting cards, postage, and any additional expenses that are part of holidays.
  • Review your Christmas List: Review your Christmas list to see if everyone needs a gift. Perhaps you plan to only buy gifts for the kids. Or if you want to include adults, try having a white elephant game where everyone brings one gift for a fun time to see who ends up with what gift.
  • Look for Deal: If there is a particular item on your shopping list do some online research to find the best deal. Also, if you do find the item cheaper or if it goes on sale the week after you already bought some stores will offer a price adjustment. Also, check out stores like Marshalls, Homegoods, and Ross where you can find goods for a discounted price. And don’t rule out the dollar store, which has so many good finds for smaller gifts for teachers and decorations too.
  • CapitalOneKnittingGive from the Heart: Are you good at baking, painting or knitting? Then create a one of a kind creation for your loved ones. You will not only save money but your loved ones will appreciate the time and effort you spent making them their special gift.

During the holiday season, you can also stay on track with your finances by checking out Capital One 360 to help with new account bonuses, referral bonuses and closing cost credits. Visit the site to give yourself the gift of financial peace of mind!

We hope that these tips give you a financial peace mind so that you can enjoy the holidays with you family and loved ones.

I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.