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St. Mary's Credit Union BlogHoliday Spending Advice from the Experts [10 Tricks to Avoid]

Holiday Spending Advice from the Experts [10 Tricks to Avoid]

Holiday Spending Advice from the Experts [10 Tricks to Avoid]

Holiday Spending Advice from the Experts [10 Tricks to Avoid] - Image

When it’s holiday time, many people end up spending too much in buying gifts and other holiday paraphernalia. Holiday spending on shopping doesn’t have to be extravagant to please your loved ones. Just knowing the right holiday shopping tips and holiday shopping things to avoid is enough to make your shopping experience rewarding. Here is some expert advice on 10 things to avoid when holiday spending on shopping.

  1. Shopping without a list

Shopping without a list is a recipe for disaster, especially if you are doing your holiday shopping on a budget. With all the offers and discounts placed on items during the holiday season, you will most likely be tempted to buy everything on the shelves. Work around your list of purchase items and stick to it unless it’s unavoidable to deviate.

  1. Stores that are new to you

Be wary of stores that are relatively new to you and are offering deals that sound too good to be true. Their deals may be as good as advertised, but it‘s always wise to be keen when trying new stores especially when shopping online. Use recommendations from colleagues, relatives and online consumer reviews.

  1. Shopping without a budget

Shopping without a budget will only land you into holiday overspending. A simple budget helps keep your finances in line, enabling you to plan on how much to spend, how much to save, and how to limit your overall holiday expenditure.

  1. Shopping with a spendthrift

If you want a great tip on how to save money or shop on a budget during the holiday season, ask me! From personal experience, I have learnt that avoiding a spendthrift’s company when shopping is the surefire way to go. The person whom you are shopping with has tremendous impact on your own shopping experience. When you shop with a spendthrift, you will most likely fall into the temptation of spending as much as they are. But when you shop with a saver, trust me you’ll also end up saving up most of your cash.

  1. Carrying your credit cards always

Carrying your credit cards always will get you into holiday overspending without even you knowing it. It is advisable that you only carry them when you have planned and budgeted for something at that specific time. And on that note, remember to shop with your St. Mary’s credit card this season as it will have the lowest interest rates compared to all your other cards.

  1. Visiting too many stores

If you are looking for what to buy on black Friday for example, stores will always stock something different from what their competitors have. While visiting various stores and comparing prices as well product options is advisable, visiting too many of them can leave you confused and unable to make a sound decision on what to buy.

  1. Interacting with sales people too much

You should also avoid this if you don’t want to end up overspending. Sales people are trained to get you buying things, and the more you interact with them, the more you will find yourself in their grip.

  1. Impulse buying

Simply stay within your budget and purchase-list. Impulse shopping will only get you eating up your savings.

  1. Buying things just because they are cheap

Don’t go for holiday items on offer just because they are cheap or have large discounts on them. Go for quality first, and then ascertain that the products are not just being disposed off.

  1. Buying surprise-gifts

At times, surprise gifts don’t really work great on the person being gifted. Try and consult a person when you are buying them a gift so that you get them a present that really pleases them.

Related: Are You Looking for Holiday Shopping Help? [Checklist]

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