Rants & Raves: Holiday Budgeting

holiday budgeting
Black Friday and Cyber Monday, followed by Christmas, which is right around the corner. What does that mean? Shopping, shopping, and more shopping! Inboxes bursting with emails, full of savings. I love to shop and I love to save money – who doesn’t? I know I’m not the only one. Usually it’s a struggle trying not to spend, but this year was different for me. Makeup, shoes, wearable tech, camera gear, purses, watches, courses…everything I mean everything I could dream of was on sale! Man was it hard to delete those emails with 50% off this, BOGO specials, and package deals to die for. 
Many people decided to ignore Black Friday as well opting to ‘celebrate’ Buy Nothing Day. This day was started to focus on consumerism by a group called Adbusters. When I decided not to take part in the Black Friday chaos I wasn’t aware not shopping was becoming a movement, but I understand why.  
People decided to refrain from spending for many reasons, others decided to shop for their own reasonsMy reason was simple. I didn’t budget for it. Since it wasn’t included in my budget, I wasn’t tempted to spend. Whatever the reason, it is important to have control over your spending. If this is you after spending during the holidays.

holiday budgeting
I can’t fix the damage you did but I can help you get ready for next year with a few money management tips. In simple terms, budget and save.  
  • Know what you want to buy 
  • Set a spending limit 
  • Save monthly towards your spending limit 
  • Talk to a financial advisor 
Open a separate savings account and deposit a set amount each month until you reach your goal. Don’t use debt to pay debt. If you have to borrow to spend, it’s probably best you don’t. Rather than letting the holidays catch you off guard, work it into your budget. If you don’t have a budget, you need one. 
A new year is approaching; this is a great time to start improving your financial future. Healthy spending habits can make a big difference in your life and stress level, especially around the holidays. This year I was thankful for not getting caught up in the shopping madness and for sticking to my budget.  

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