Keeping Spending Under Control During the Holidays

November 26th, 2018


The holiday season is already upon us! Time seems to go by faster and faster, which can lead to panic during the holidays and overspending. We need to manage money well and not destroy the good money habits we have learned.


Avoid the January credit card bill surprise by setting parameters for the holiday season. Make a gift giving budget and stick to it.

6 Tips to Control Holiday Spending

  • Keep gifts in perspective.  Before you go shopping make a list and don’t deviate from the list.  Retailers, both in store and online, do a great job of making deals sound too good to refuse. 
  • Avoid self-gifting.  In the past, you may have bought items for yourself during holiday season because the deal is so good.  This is a bad idea and destroys your holiday budget.
  • Give from the heart.  Those receiving a gift will appreciate one that has sentimental value over dollar value.  DIY gifts are great!  The gift of time is excellent for friends and family and more meaningful.
  • Track spending as you go.  Use digital personal financial management tools to help. Heartland Bank has a great tool called Funds Tracker that could help with this. 
  • If your extended family is sharing gifts with everyone, suggest playing a gift giving game instead of buying everyone a gift.  It adds fun to the parties and keeps spending more economical.  
  • Avoid charging to your credit card.  Keep track of all items you charge to your credit cards, so you are not shocked in January.