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Shop Smart! Eight Easy Ways to Cut Holiday Spending

Shop Smart! Eight Easy Ways to Cut Holiday Spending

Do the upcoming ho-ho-holidays have you thinking “huh-huh-humbug” when it comes to your bank account? For a multitude of reasons, many of us would like to cut down on excessive holiday spending during this season. But, that task is typically much easier said than done.

That's why, we’ve compiled a budget-friendly list of ways to cut back on your holiday spending:

1. Examine spending habits. If you don’t have an accurate idea of how much you spend on a regular basis, how will you know if you are overspending during the holidays? Look at your spending habits over the course of a few months to determine a realistic holiday shopping budget.

2. Set a goal. Maybe you would like to buy a new home or car. Maybe you would like to visit your friend across the country. Maybe you would like to make 2017 your year to finally be debt-free. It is much easier to stick to a holiday budget if you know that you’re working toward a larger goal.

3. Make a list. Santa does it; why can’t you? Before you hit the sales this holiday season, create a gift list for your loved ones. That will be the easy part. The hard part about being prepared for holiday shopping with your gift-list in hand? Sticking to it!

4. Don’t compete. Who doesn’t want to give the best gifts? But, when you are trying to be budget-conscious, it is important to remember that the best gifts are not always the most expensive ones. Don’t let the gift-giving turn into a spend-crazy competition with your family and friends!

5. Use cash. When was the last time you paid for something larger than your grande iced mocha with cash? Taking out cash to pay for holiday gifts is a great way to cut spending during this season that could make a shopaholic out of anyone!

6. Use coupons. There rarely is a reason to pay full price for anything – and, that is particularly true around the holidays. Whether you’re clipping newspapers or copying codes online, vow to make no holiday gift purchase without the help of a coupon!

7. Use elbow grease. It may not be the fastest way to complete your holiday shopping, but giving gifts from the heart (or oven) are sure to warm anyone on your list. Whether it is cookies, cakes, candy or another craft (like DIY ornaments), making your gifts is a great way to corral holiday spending!


8. Spread out the spending. It may be a bit late to put this plan into effect for this holiday season, but there is always next year, right? Perhaps the best way to cut back on holiday spending is simply to shop for your holiday gifts year-round. Refuse to be drawn into the holiday spending craze by completing your holiday shopping before the season hits!

Put one or all of these budget-friendly holiday shopping tips to use this season, so you can enjoy less stress and more cheer as we move toward the new year!

This post is sponsored by PA Preferred Mortgage:

Pennsylvania Preferred Mortgage is a full service mortgage banker and is a member of the Prosperity Home Mortgage, LLC family. Specializing in residential and refinance loans, Pennsylvania Preferred Mortgage offers a wide range of mortgage products, including fixed and adjustable rate mortgages, jumbo loans, Federal Housing Administration (FHA) and Veterans Affairs (VA) loans, and renovation financing. Learn more at www.papreferredmortgage.com.