Once the holiday season rolls around, wallets generally become lighter than they are throughout the rest of the year. With extra funds spent on gifts for loved ones and festive celebrations, it helps to plan ahead so you’re not caught short.
Here’s how to save money over the holidays:
Create a budget
Setting a budget for your spending is always beneficial, no matter what time of year. It’s even more important during the holidays, as you’re likely to have more outgoings than usual.
It might be a case that you temporarily pause saving for that vacation you’re planning during the holidays. You can also look at your day-to-day spending, such as lunches out or the food shop, to see where savings could be made.
To find out where you need to cut back and what you can afford during the holiday season, first find what bills must be paid. Whatever is left from your monthly income, can be channeled – at least partly – into your holiday fund.
Next, set a budget for each person you want to buy a gift for and how much you’re willing to spend on your own decorations, food or treats. Once you know this, you’ll be less likely to spend more than you can afford.
Make a shopping list
Once you have your list of who to buy for and what you want to spend, you can start browsing. Look out for deals or offers but try to curb any unnecessary purchases. Stick to your list. It’s best to start shopping as early as possible so you can make the most of end-of-season sales.
If you’re shopping online this is easy, as all the prices are there when you browse. However, when shopping in store, it can be hard to know if you’re getting the best deal. Check the average prices online ahead of your trip and make sure you have enough funds.
Start early and shop the sales
If you’re really organized, you might like to get in there early to shop for gifts before prices skyrocket during the holiday season. Plan your shopping in as early as September and October and you’ll likely come across great deals on items before they become more expensive in November and December. This can save you money and stress, as it means you can avoid the last-minute rush to buy all your gifts.
Track your spending
Setting a budget is great, but you have every chance of going over your limit if you don’t actively track your holiday spending. Pin down the right tracking method for you and avoid being caught short come January.
A Kroger Reloadable Prepaid Debit Card is a fantastic way to make sure you only spend what you allocate yourself for the holiday season. All you have to do is load your card with the chosen funds and use it the same as your standard debit or credit card. The benefit is you’ll never spend more than you have - so no overdraft fees.
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Pick up a Prepaid Card at one of the nearly 2,000 locations across the US. Our conveniently placed stores make it easy to plan your holiday spending and saving.
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