When it comes to holiday budgeting, having a plan and sticking to it is paramount in keeping to the parameters you have laid out for your financial situation.
Many of us are guilty of having some sort of framework in our mind of what we have to spend, but then we hit the stores. We see the sales, door buster deals and just so many things we want to buy for ourselves or as gifts, and your budget may move to the wayside.
Dave Nellis with America First Credit Union says if you hit the mall prepared, it can help keep you on track.
"When you go out shopping, one, have a list. Two, know where you're going to go to get that at the best price. And three, know how much money you have to spend and stay within that target. If you're a cash spender, only take that much cash with you when you go shopping. If it's a debit card, know what your limits are. It's very painful when you maybe shop and you go over your limit and you have to pay a fee because you spent more money than you had," Nellis said.
Nellis also says don't fall for store credit card traps. Those bills come up very quickly, and if you can't pay them off in full, you will end up paying so much more for an item you perhaps thought was a good deal at the time. No purchase is worth endless months of stress.
So stick to your plan to ultimately save smarter.
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