6 Tips to Help You Stick to Your Holiday Budget

Holiday Budget

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In 2012, holiday retail sales, in the U.S., rose to about $600 billion. According to TransUnion (a leading credit monitoring company), consumers paid for more than $246 billion of those purchases on their bank credit cards, and many exceeded their holiday budget.

As of November, 2014, American consumers owed a total of $880.3 billion in credit card debt. The average U.S. household (that is carrying credit card debt) owes $15,593 and the average consumer owes between $5,000 – $7,000, depending upon the survey source and minor variables.

And here we go again. Another year going beyond the holiday budget. Maybe. There are simple rules to follow that will help to mitigate some of the pitfalls of holiday spending.

Rules for Sticking to Your Holiday Budget

The very first and most important rule to follow is to prepare a realistic holiday budget. Remember, a budget is not a punishment; it’s a promise.

Here’s are 6 rules for budgeting your holiday spending:

  1. Allocate a total amount of money to your holiday budget. This should include more than just presents. Don’t forget gift wrap, cards, travel, food, decorations, charity donations, etc.
  2. Make a list of everyone you’re considering buying gifts for this year.
  3. Assign a maximum amount to each person on your list, including the price of gift wrap.
  4. Trim your list, if necessary. Will your coworker really be offended if you don’t get her another coffee mug?
  5. Shop early; many stores offer deep discounts before Black Friday. Plus, when you’re not stressed for time, you’re less likely to make impulse purchases.
  6. Have your list with you every time you shop. No shopping off the cuff!

Holiday budgeting works. Of course, you have to follow it. But if you’re interested in curbing your spending and controlling your debt, implement these rules today.

If you’re serious about controlling all your finances – earning, spending, saving, borrowing and investing, visit Infinite 101 to learn how.


Q: What are some tips to help curb excessive spending habits?

A: Tips to help curb excessive spending habits include creating a budget, identifying spending triggers, and practicing delayed gratification when making purchases.

Q: Why is creating a budget an effective tool for managing spending?

A: Creating a budget allows individuals to track their income and expenses, set spending limits, and prioritize financial goals, helping them control their spending habits.

Q: How can practicing delayed gratification contribute to better financial decision-making?

A: Practicing delayed gratification involves resisting impulsive purchases and waiting before making non-essential expenditures, which can lead to more thoughtful spending decisions and improved financial stability.

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