The biggest shopping events of the year are about to take place in just a few short days. Black Friday and Cyber Monday carry some of the biggest discounts and savings to consumers but before you get into the Birdman hand rub position thinking of all that stuff. Check out the tips below on how to avoid holiday debt and breaking the bank.
Create a “Real” Budget: BUDGET. BUDGET. BUDGET. Creating this financial plan on what you can really spend for the holidays is the best type of planning to avoid debt. We all get in that mood during the holidays to give. It’s nothing like seeing that special item make ourselves or family and loved ones happy but over spending and creating pay back scenarios isn’t doing your wallets or your household any favors. Create an amount that you can really spend and stick to it.
Create Lists: Once your budget is finalized, next it’s time to create a list on who and how much you can spend in your gift budget on each name. This is also a perfect time to add in gift ideas so you know what stores and websites to head to during the busy shopping days. Utilize it as a tracker to watch your item to save even more if it drops or gives cash back! My favorite cash back app is Ebates! Sign up now and qualify for the $50,000 sweepstakes going on right now until 12/31/17! Details HERE!
Use Shopping Tools: Black Friday and Cyber Monday doesn’t always carry the best deals. Using shopping apps to find things from your favorite shopping destinations like Amazon with Canopy app to quickly find what you’re looking for, the ShopStyle app, RetailMeNot and Shop Savvy are my favs to use while shopping. Use these to save yourself a ton of cash on the things added to your list. Make a rule to not press checkout until you look for coupons! Available for IOS and ANDROID users.
Think Twice on Using Credit: My motto is C.R.E.A.M. (Cash Rules Everything Around Me). If it requires using credit to buy it and it’s not a house or car…I’m only getting it if I have the actual dollars! Like I told you a few posts back, I had the most horrible financial snag almost two years ago and not only did the money run out I made the ultimate mistake (I’m still paying for this mistake) of using my good credit rating to get a card or two and also furniture-BIG NO! If you haven’t budgeted your dollars-coins for the holiday season, you’re setting yourself up for financial trouble in my opinion. If you feel comfortable to use a store card just make sure you have a plan for paying it back and try to set that goal in no later than 30 days. The present I want this year is NO DEBT! Who is with me?
Postpone Gift Giving: Basically I’m saying is skip that part of holiday and shop when you can. The best gift is family and time with love ones. Plan a day of games, food and quality time while creating memories. After the holiday, get out and have a light day of shopping and fun. Everyone can shop for themselves and get exactly what they want!
Give the Gift of Time: Presents don’t just come wrapped in paper and carry a dollar price tag. Spend time with the elderly, volunteer and fix the homeless food. Sharing your time with those less fortunate gives a us a gift that keeps on giving!
What are your thoughts on my money saving tips? Do you have any money saving apps to share? Let me know in the comments.