PLATTSBURGH, N.Y. (WCAX) - ‘Tis the season of giving... and spending money. This year money may be tighter than in past years, so the United Way is helping out by sharing seven steps to building a holiday budget that won’t break the bank.
The First Step is to learn from your past. Did you overspend last year? Maybe you have a bad spending habit or spend too much money on one person.. like your cat. United Way says the best way to spend better in the future is to look at your spending in the past.
The Second Step is to actually make a budget and keep it realistic to your financial needs. The non-profit says to physically write it out on paper too. When you see it in writing you are more likely to stick to it.
Since you are writing it all out, that brings us to step three. Make a list of everyone you plan to buy for. Write what gift you want to buy them and write what you bought them last year. This helps monitor not only your past spending and current spending on your 2020 budget, helps you stick to your list, and keeps you on track when you’re out in the stores. This also will help with impulse buying - the “well that’s only $5” at checkout can add up quickly.
Step four is to use your resources. You have a list, I’m sure you’ve checked it twice and you know what you can spend and what you want to buy! Use the internet! Search the stores around you for the best price! Just because you are out at a store and see the perfect gift does not mean it’s the perfect price and you may find it cheaper elsewhere, you just need to look.
Do not - DO NOT - use your credit cards to pay for your holiday shopping or you could still be paying it off by next year’s holiday season, that is step five. You have your budget made and you know what you can spend, so take the cash out and use it. By having cash on you, you know how much is left in your budget and you know when you run out.
Step six is to think outside the box! Gift giving is better when there is thought behind it, so make a sweet treat for some sweet friends or make some macaroni art for mom and dad like the good ol’ days. United Way says investing in long term gifts, like college payments for kids can benefit the recipient in the long run. It suggests speaking to a financial planner if you want to invest
The last step is to be charitable this holiday season if you so choose. The United Way says you can set aside some of your budget to donate or invest in a nonprofit.
Copyright 2020 WCAX. All rights reserved.
"break" - Google News
November 29, 2020 at 09:15AM
https://ift.tt/3fSbjXB
7 tips for making a holiday budget that won't break your bank - WCAX
"break" - Google News
https://ift.tt/3dlJq82
Bagikan Berita Ini
0 Response to "7 tips for making a holiday budget that won't break your bank - WCAX"
Post a Comment