How to make a budget for your holiday shopping this year

by Members Plus Credit Union

The holidays are a time of joy, light, and celebrations when families and friends gather from near and far to spend time together. The season is certainly a special time of year. Yet all the celebrations, the travel, the entertaining, the gift giving, and the food and drink that is associated with the festive season comes at a sometimes hefty price tag.

No matter where you’re from or what you do, the holiday season can certainly leave a dent in your wallet. In fact, research has shown that the average person adds almost $1,000 in holiday debt to their overall debt each year. These days the holiday spending period seems to grow longer with each new year, with festive shopping and decorating beginning before Halloween is even a distant memory. For some, the thought of the upcoming holiday season can bring stress and worry rather than happiness and excitement.

Though weathering the holiday spending spree and staying sane doesn’t have to be an impossible task. Taking some time out now to plan and learn how to make a budget can save you money, worry, and time as the season approaches, freeing you up to fully enjoy the best parts of the holiday time with those you love. The more you do before the madness kicks in, the better off you’ll be. In fact, a few simple but important steps can guide you on how to make a budget for all your festive needs and wants.

 

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