07:22 15 December 2013
When the festive season is over and done with, January debt comes beckoning. Sometimes people go overboard with their spending as they are caught up in the euphoria of the festive season.
The following article highlights some tips you can employ to ensure that you do not end up cash strapped when the month of January begins.
List down the names of the people you are going to give gifts to
Ensure that you have a list that will serve as a reference point for the amount you are going to spend. This prevents those spur of the moment decisions that might take place when you go out gift shopping.
Always have a budget
Every person should have an amount you are spending on them so as not to dent the finances. If the present you intend to buy for them costs more than you have budgeted for, you can go in with another individual to meet the cost. Gift certificates also allow them to go to shop for items they desire and are handy for keeping you on budget too.
Have an in depth discussion with your partner or spouse on how you are going to tackle the holiday
It is important to have a consensus with your partner if your spending philosophies differ greatly from one another. If either one of you is worried about overspending, sitting down and coming up with a plan will ensure that it does not escalate.
Contrast and compare prices for the gifts that you are going to buy
The internet has championed price comparisons into the world of quick shopping. When spending for something, some consultation over the internet is a good idea, as it will enable you to get a feel for what the items should cost thus allowing you keep your finances in order.
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