Holiday season may cause huge debts if we are not careful. In this case, we should be careful if we want to manage our money during the rush. However, with proper preparation, there are things we could do so we can safely get through the season. A few months before that holiday season arrives, we may need to consider looking for another source of income. In general, we may need additional $1000 or more during holiday season. Before the holiday season arrives, there should be plenty of seasonal part-time jobs we can choose. This should give us an opportunity to get us through the more difficult times. To get more money, we could sell items that we no longer use, especially last year’s gifts and those that are still in the box. To avoid acquiring debts, we should make the master list that includes all details we should do during the holiday season. As an example, we could write down a list of people who will receive gifts. If there are 20 people and we allocate $50 for each, we will need to spend $1000. It would be much easier if we could use gift cards or gift certificates.
When purchasing gifts, we should also consider other details, such as cards, bows, wrapping paper, fuel and other extras. If we can’t really afford it, we don’t have to buy gifts for people and we should skip the gift exchanging event. We should double check our lists, so we won’t forget anything. To reduce costs, it is important to shop early. In this case, we could go to stores months before the holiday season arrives, so we could be less affected by rush and other holiday season grievances. By choosing to do things properly, we won’t need to overspend. We should have enough time to find better bargains and shop around. In general, it is a bad idea to buy all the first things we see. We should consider buying the right gifts and it would be a waste to buy someone the wrong gift. A gift doesn’t have to be expensive; a $5 dollar gift can be the best thing that someone receives for the whole season. If we could only afford to purchase generic gifts or replicas, then so be it; but it is also possible to be creative when choosing them.
Whatever we do, we should avoid using credit card if it is possible. By carrying only cash when we go to gift stores, we will be able to spend within specified limits. People often don’t realize that they have spent a lot of money when they are using credit cards. If we have only $200 for buying gifts, then we should leave our credit card at home and try to make do with the money we have left. By using credit cards, it is possible that we will spend double the amount, due to high interest rate, especially during the holiday season. It should be a time when we enjoy ourselves with the family, instead of the time when we accumulate debts.