Personal Finance and Investing

Smart holiday shopping starts with a budget and a game plan. Without these two things, your holiday shopping expenses can quickly spiral out of control. Most of us have been in the situation where we charge our holiday purchases to our little hearts’ content, only to be sacked with huge credit card bills come January.

There are a few, simple ways, however, to make this holiday season memorable – without breaking the bank:

• Make your list and check it twice – There is nothing more detrimental to your holiday budget than wandering the stores without a general idea of what you are looking for. It is therefore of the utmost importance to do your homework, nose around and ask plenty of questions so that you can make a list of the holiday items your loved ones are hinting around for. You may also want to cruise the Internet to get a better idea of where to find certain items, to compare brands and to check prices between competitors.
• Create a reasonable budget and stick to it – Heading out the door to start your Christmas shopping without a budget in mind can spell disaster. So, along with your list, decide how much you can afford to spend on each individual. Although it may be difficult to stick to a budget, your wallet will thank you come January, when you will be one of the fortunate few not to have overwhelming credit card debt.
• Get creative and save – Remember that not everything needs to be expensive. It may sound contrite, but many individuals appreciate gifts from the heart as much as they do expensive ones. Use your talent for knitting to create a beautiful blanket for your new niece; purchase a gift card – and free babysitting services – to your brother and his wife; and frame personal photographs in unique and interesting ways for your parents.
• Check your credit card limit, interest rate and related fees before heading out the door. The last thing you need while shopping is trouble with your credit card.

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