Tips on Saving Money for the Holiday Season

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Tips on Saving Money for the Holiday Season

Photo from Google Images

Photo from Google Images

Photo from Google Images

Photo from Google Images

Cameron Allen, Staff Reporter

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Thanksgiving and Christmas are rapidly approaching. Many of us will have to attend and host dinners, plus buy gifts for our loved ones and family (whether we really want to or not). If you are like most college students and adults, you can have financial worries during the holiday season. Here are some tips to prevent you from being ridiculed at gatherings for being the one person who decided not to participate in Secret Santa:

1.) Create a list: Planning out your expenses can prevent disappointment in advance. Having a list will make sure that you know what your costs are going to be and will allow you to create a budget around that. The hardest part of this will be getting your family and friends to say what they want for Christmas

2.) Avoid using credit for gift purchases: Not using credit will allow you to save money by avoiding overspending. It also allows you to not accidentally aggregate more debt, which is good plus.If you do use credit, make sure to use the credit card with the least amount of interest.

3.) Give realistic gift expectations for your friends and family: Let your family and friends know that you have a range for what they can expect to receive. If you can stand by this, you will save money by not giving into your little brother’s unrealistic expectations andprevent soul-crushing gift sadness.

4.) Cut back in advance: Creating a holiday fund in advance will allow you to have more money in your budget. You can supplement this fund by eating cheaper and doing a myriad of other money saving processes before the holidays hit.

5.) Shop online: There are great deals on the internet during the holiday season that can help save you money. Taking advantage of these events can result in a more fruitful holiday season.If you follow these tips, you should be able to save a good deal of holiday stress and relieve your financial woes. I recommend giving everything in the list above a try.