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When the winter holidays come around, it can be tough for even the most fiscally responsible individuals to keep their spending in check. But you can’t let yourself get swept up by the festive season; otherwise, you may need debt relief in the New Year. To avoid this scenario, here are some tips to help you manage your holiday budget.

4 Tips to Stand By Your Holiday Budget  

1. Be Specific

If you’re vague about your budget, you’re more likely to overspend when shopping for the holidays. Having a ballpark amount in mind isn’t enough. It’s easy to surpass that amount without realizing it.

Take some time to carefully consider your financial circumstances and set a hard-and-fast dollar amount. Write it down—or even better, use budgeting software—and refer to it when you shop.

2. Create a Shopping List

Avoid the need for debt relief after the holidays by thinking ahead. Last-minute gifts, often purchased on impulse, can end up being the priciest, so come up with a list detailing who you need to shop for, what you’d like to get them, and the total amount you’re willing to spend. You’ll be surprised how much money you can save when your shopping trips are pre-planned.

3. Shop Smart

Hawaii debt reliefWhile many retailers mark up items for the holidays, just as many offer amazing sales. Do research online, comparison shop, and take advantage of deal and discount-finding apps such as Honey and Groupon

4. Consider Your Expenses

Look at your monthly budget for places you can cut back during November and December. Maybe you can skip the Monday morning latte or make work lunches at home. Any funds you can free up to use for holiday gifts, no matter how small, can help.

 

If you need debt relief during the holiday season, contact Greg Dunn, Bankruptcy and Debt Relief Attorney. Based in Honolulu, this seasoned attorney has helped clients resolve their debt since 1996 and worked on more than 12,000 bankruptcy cases. Visit his firm’s website to learn more about his extensive experience, and call (808) 524-4529 to set up a complimentary consultation today.

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