 5 Tips for Spending Wisely This Holiday We spend a lot of money during holidays. As a result, you need a lot of money. Okay, the holiday seasons can be financially demanding. Our mental health, physical health and emotional well-being should be our priority. Take out time once in a year, at least to have fun, eat as much as we can stomach, travel and do all the fun things we can afford and not bad ideas. However, it is not good to overspend because we only care about having a nice time during the holidays. What happens after the holidays? It is important to have a wonderful time during the holidays but it is also important to spend wisely while you are at it. In this video, I'll share with you 5 tips for spending wisely this holiday. This will help you become a successful person. If you're new here, consider subscribing so that you won't miss other interesting videos like this. 1. Create a budget and stick to it Dave Ramsey, an American radio show host, author and businessman, said and I quote, A budget is telling your money where to go instead of wondering where it went. Make a list of the items you've been needing for the holidays as well as the number of people you want to get gifts. Make sure that your list captures only what you can afford because you're going to stick to it. The last thing we want is tapping from your extra fund that had been put aside. So, be realistic with your list and budget. The thing about setting a budget is that it will help you manage your spending decision. Note that your list is working with your budget, not your budget working with your list. So, once you have decided what fraction of your income you want to spend during the holiday, create your list. Put on the items on a scale of preference so that if your budget accommodates the least important items, good for you. But if not, it doesn't mean that we are expanding it. 2. Start shopping early. Everyone will be shopping during festive periods. This can make your shopping a little more challenging because you won't be able to explore as much options as you like. Everyone wants to buy and everyone wants to check for alternatives so that they won't get to spend so much money when they can get a similar quality for a lesser price. Besides, if you live in certain parts of the world where prizes of things are spiked during festivity because of the surge, it is only advisable to start shopping weeks or months if possible before every shopping mall and marketplace gets crowded. 3. Avoid using credit cards to make payment. Credit cards offer the convenience of buying now and paying later. While this sounds like a good idea now, it can be a little implicated. For instance, a $20 gift is only $20 until you purchase about 5 of those and then paying off your debt becomes a problem. As a result, interest begins to accrue and suddenly that $20 gift has snowballed into a big sum because you were unable to pay back before the next billion cycle. Mind you, you got 5 of those for your loved ones and friends. To see why creating a budget enlist is important in the first place, you don't want to walk in a store and begin to pick random items because there is a discount on nearly all the items and well, you think it's a great opportunity to shop as many things as possible. 4. Put a savings plan in place. Savings should be a part of your monthly budget, irrespective of the season. Don't put your financial freedom plans on hold because you feel the need to try out all the amazing things you've never done. If you don't have a professional financial planner, get one to help you with strategies to save more and plan a better financial future. Also, remember that the new year is just around the corner and you don't want to start the year already looking forward to your next income because you barely have enough to live on. 5. Remember, people come first. What are the holidays, Christmas and New Year without your family and loved ones? You see, people are the most important part of anything, be it business or fun. The reason why you are looking forward to the holidays is that you get to spend it with loved ones, not because of the exciting things you want to do, but the people you want to do those things with. So, in getting gifts for them, always remember to put them first. It won't matter if you get expensive gifts and in the end, it's not something they want. So, instead of trying to please everyone and prove a point, get them sentimental gifts. Something thoughtful. You'll be surprised at how much they'll appreciate it than the very expensive gifts. Have a great time and, more importantly, spend wisely this holiday. 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