OK, as promised, here's PART 2 of the "cheat sheet" list of holiday spending tips I talked about on my November 20th show of Just Ask Nicole LIVE!...
"Resisting the Urge to Splurge: 15 Smart Tips to Manage Holiday Spending"
[If you missed part 1, you can read it by clicking here.]
PART 2 - Holiday Spending Tips 8 through 15
TIP # 8: Be creative.
- Instead of spending money you may not have on things you really can't afford, try being creative with your holiday spending plans.
- Try making handmade gifts. Or putting together a photo album or framing a portrait and giving it as a gift. Bake some delicious treats like cakes or cookies and give them as gifts. Try making decorations instead of buying them. Give a donation to a charity on behalf of your family. Have a dessert party instead of a full dinner party. Be creative, use your imagination!
- Make gifts and events memorable and meaningful, instead of costly and expensive.
TIP # 9: Supplement your income.
- Raise extra cash just for your holiday spending purposes.
- Get a second job or a part-time job and use the money you earn specifically for your holiday shopping.
- Get a job in a store where you plan to do most of your shopping, and use your employee discount to save more money off your purchases.
- Sell some of your old things that you no longer use or want, to raise extra cash for the new things you want to purchase. Use free or low-cost online classified ad sites like eBay, Kijiji, or CraigsList to advertise and sell your items.
- DO NOT spend money that's meant for other financial obligations such as your mortgage or rent, car note, insurance, day care, etc., on your holiday spending!
TIP # 10: Nix gift giving all together.
- Do something "special" instead of giving and exchanging gifts.
- Take a family trip, go skiing, or volunteer.
- Focus on family traditions and creating long lasting memories - the type of stuff that will forever remain priceless because it has nothing to do with how much money is spent.
TIP # 11: Beware of sales pitches.
- Don't fall victim to all of the sexy sales pitches being promoted right now.
- DON'T "SKIP A PAYMENT" on your credit cards only to pay more in interest next month.
- DON'T "BUY NOW, AND PAY LATER," because if you don't have the money to pay for it now, will you really have the money later when the bill comes due or when the promotional period expires?
- DON'T "SAVE 15% TODAY," by applying for a high-interest department store credit card. The 15% saved today isn't worth paying out 21-26% or more later when you don't pay the bill off in full when it comes due.
TIP # 12: Take advantage of post-holiday sales.
- Save some of your gift giving and events for after the holiday, when there are lots of HUGE sales and special incentives offered by retailers and businesses.
- Use the after-holiday specials to get a head start on your shopping and holiday plans for next year!
TIP # 13: Use your holiday fund.
- If you have a holiday fund, use it!
- If you don't have a holiday fund, use this time to start one for next year.
- Save money all year long by putting aside something, no matter how little or small. Over the course of a year, you'll be surprised how it adds up!
- Set up a special holiday fund bank account, preferably an interest-bearing account.
- Have automatic deductions taken out of your paycheck and deposited directly into this special holiday fund account.
- Commit to NOT touching the funds except for their intended purposes, which is holiday spending.
TIP # 14: Stay in control.
- YOU are in control. Plain and simple.
- No one but YOU can make YOU spend YOUR money the way YOU do.
- Stay in control and stick to your plan and you won't have the lingering burden of extra debt incurred during the holidays hanging over your head.
- Stay in control and stick to your plan and you won't be struggling to pay off unnecessary debt for months to come.
- If you stay focused and stay in control, you'll be really happy, relieved, and proud of yourself when the holidays have come and gone and you were able to stick to your holiday spending plan!
TIP # 15: Just Ask Nicole!
- Ummm... that would be me. :)
- If you get stuck, or you need some suggestions, or just a little friendly holiday shopping guidance, remember you can always ask me... I'm just a click away!
I hope you find these holiday spending tips helpful. If you use some of them, or all of them, be sure to let me know how they worked out for you!
Also, don't forget to share these tips with your friends, family members, and associates so they can stay out of holiday spending trouble too!
By the way, you still have time to listen to the replay of the holiday spending tips show, before it's removed from the show archives.
Happy plan-in-advance-stick-to-your-plan holiday shopping!