Top Five Tips to Manage Holiday Spending

The holiday season is a time of celebration and generosity, but it can also be a time of financial stress if you don’t manage your holiday spending. With so many gifts to buy, it’s easy to overspend and you find yourself welcoming the new year with a debt hangover.  

Man worried about his holiday spending

Here are some tips to help you manage holiday spending:

  1. Make a gift list – having a visual representation of the people you’re shopping for gives you a clear idea of how many gifts you need to purchase.
  2. Set a realistic budget – before you start shopping, decide how much you can afford to spend this holiday. If you have doubts whether they’ll appreciate less expensive presents, remember that gifts shouldn’t be about the price tag, it’s about the thought behind it.
  3. Do your holiday shopping early – shopping early for the holiday is a smart move that saves you both time and money, while also helping you avoid stress and the crowd that comes with last-minute shopping.
  4. Shop for deals and discounts – comparing prices at different stores gives you more savings for your budget. You can also get discounts by using coupons or promo codes that can help lower your costs or avoid the shipping fee.
  5. Regularly monitor your spending – during this time, many scammers have different ways to scam shoppers. That’s why it’s encouraged to keep track of your spending to ensure there are no fraudulent charges. This also helps you know whether you’ve already reached your limit or are still on budget. Read more tips about Fraud Protection on our website.

Bonus tip: Open a savings account that’s specifically for holiday shopping to set your budget for next year. At CCCU, we offer a dedicated Christmas Club savings account to help you put money aside each month. Call us at 702-228-2228 to open your Christmas Club savings account.