Keeping holiday spending under control

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We all know how easy it is to go overboard with spending during the holidays, but it doesn’t have to be that way. The Lift’s Certified Financial Planner Michelle Buria shared her tips to keep holiday spending in check.

Tip No. 1: Have a plan: “When we’re looking at holiday giving. You’ll want to write down the people who you’ll be giving to. Because the last thing you want to do is think you’re on track and then realize you forgot someone and totally blow your budget.” Keep a list of these people and then write down what you’d like to them. “It’s really just putting together a game plan.”

No. 2: Set money aside: “Even if you don’t know exactly what you want to get for a person. You should know how much you can afford to spend. You’ll want to make sure that you have that money set aside somehow.” Michelle suggests savings accounts, pre-paid debit card, pay pal, or the classic cash.

Tip No. 3: Know your habits: “If you know that you tend to overspend when you’re tired. Perhaps you don’t want to go shopping after a hard day at work. Or if you’re susceptible to the emails and alerts you get about sales, you might want to turn those off.” Michelle tells us to get to know what our triggers are that cause us to spend- that way we can set ourselves up for success.