2008 Woodie Awards
Holiday season expenditures
Kayla Ehlen and Ashley Pfeffer
Issue date: 12/7/06 Section: Features
- Page 1 of 1
As the holiday season is fast approaching, and your mindset changes from finals to shopping, we advise you keep in mind a holiday budget.
Many people find themselves paying off huge credit card debts acquired through Christmas shopping in the months following December.
Here are some tips to help you stay within your gift giving budget.
The first thing you need to do is create a realistic budget. When preparing your budget, keep in mind current expenses and don't forget about the expenses you may have after the New Year, like buying books.
Before you even enter the mall, create a list of the people you need to purchases gifts for.
A major mistake people make is over-buying for people because they did not take the time to make a list.
Next, do not procrastinate. Waiting until the last minute to shop leads to gifts no longer being available. This causes you to purchase other gifts which could potentially put you over budget.
The final step to staying within a budget is to shop around! During the holiday season stores are competing for your money.
Your job is to know which stores offer the fits you need for a reasonable price.
While shopping around, don't forget to look at online stores. A lot of Web sites offer free shipping during the holiday season.
Taking the time to create a budget and a list will start you off in the right direction.
Staying close to the budget you set and checking the list often will ensure you don't overspend this holiday season.
If you would like a larger budget then something you could consider for next year would be starting a "Christmas account."
This is a simple savings account that you start depositing money into in January so it will be there the next holiday season for your presents.
The accounts are untouchable until October and usually have a higher interest rate than a normal savings account because it is untouchable.
With money already set aside, you can create your list and start shopping.
Many people find themselves paying off huge credit card debts acquired through Christmas shopping in the months following December.
Here are some tips to help you stay within your gift giving budget.
The first thing you need to do is create a realistic budget. When preparing your budget, keep in mind current expenses and don't forget about the expenses you may have after the New Year, like buying books.
Before you even enter the mall, create a list of the people you need to purchases gifts for.
A major mistake people make is over-buying for people because they did not take the time to make a list.
Next, do not procrastinate. Waiting until the last minute to shop leads to gifts no longer being available. This causes you to purchase other gifts which could potentially put you over budget.
The final step to staying within a budget is to shop around! During the holiday season stores are competing for your money.
Your job is to know which stores offer the fits you need for a reasonable price.
While shopping around, don't forget to look at online stores. A lot of Web sites offer free shipping during the holiday season.
Taking the time to create a budget and a list will start you off in the right direction.
Staying close to the budget you set and checking the list often will ensure you don't overspend this holiday season.
If you would like a larger budget then something you could consider for next year would be starting a "Christmas account."
This is a simple savings account that you start depositing money into in January so it will be there the next holiday season for your presents.
The accounts are untouchable until October and usually have a higher interest rate than a normal savings account because it is untouchable.
With money already set aside, you can create your list and start shopping.
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