12 Great Tips to Control Holiday Spending

The holidays can be a wonderful time of the year. It can also be the most stressful time of the year financially. If you’re not careful, holiday spending can lead to some major money issues for the New Year.

So, here are a few tips to help you spend within your means and avoid the post holiday spending hangover.

1. Make a list - Take out a sheet of paper and come up with a list of people that you intend to give to. Remember to include family, friends, and associates. Come up with a gift idea and spending range for each person on your holiday shopping list. Typically, you will want to allocate the most money toward your friends and family.

2. Budget your holiday spending - How much can you really afford to spend? Decide how much you can afford and then stay within that budget. Remember, you will have to budget for gifts as well as decorations.

3. Use cash - After you've determined your holiday budget, pull out the money out in cash. Paying with cash forces you to stick with your budget than if you just use your credit cards.

3. Don't shop for yourself - With all the shopping you're doing, it's very tempting to splurge on yourself. Instead, make a wish list or wait until after the holidays are over, and your bank account has replenished before you spend on yourself.

4. Avoid impulse buying- Crowded stores and Christmas sales can lead to impulse buying. It is probably best to avoid the holiday crowd and do your online shopping online. This can help you stick to your shopping list and avoid overspending.

5. Make a shopping route - Knowing exactly where you are going can help you avoid long traffic lines, or long lines at stores. Starting your holiday shopping early can help you avoid last minute rushes.

6. Don't take out extra credit - With the holiday season approaching, many stores tempt you to spend more by offering great credit card incentives. They might allow you to shop now and pay the bill three to six months in the future. How fun is it to pay for your holiday gifts in June? Pay now, not later.