1.)Past, Present, Future
How many of us are guilty of finding ourselves standing in a busy mall every year convincing ourselves why our kids need just one more gift? Many times, we underestimate exactly how much money we will spend on gifts every holiday season. The best thing to do to set an accurate budget for yourself is to Make a list of what you bought last year and note what was necessary and what wasn’t—then eliminate the latter. This will give you a realistic measure of how much you should plan to spend for the future holidays.

2.) Make A VIP List
Make a list of who will be receiving a gift from you this year and how much you plan to spend per person. Just like Santa check your list twice-ensuring you are not purchasing gifts for those who you may not be closely associated with any longer. For those who your relationships may have fizzled out consider sending them a Christmas card rather than a physical gift. Remember it’s the thought that counts!

3.) Create A Shopping Fund
Rather than utilizing savings or personal loans that can place you in more debt consider having a designated holiday shopping fund. Consider setting up an automatic transfer to a specific holiday account after you have reviewed your budget and can determine what you can afford to put away. You may want to revisit your VIP list after you have created your shopping fund. If your funds do not seem feasible enough to purchase everyone on your list a gift you may need to transfer a few more people to your Holiday Card recipient list.

4.) Cut Out Unnecessary Spending
Review your budget for the past few months and determine what areas you may be able to cut down on such as eating out, membership services or that extra bottle of wine. Sacrifice the extra frills by putting that money into your holiday fund.

5.)Take On A Seasonal Job
Take advantage that many retailers are hiring for extra help during the holiday season. If things have already been a little tight in the finance area for you picking up a second job may take a little pressure off your pockets.

6.) Price Check
Retailers anticipate holiday procrastinators and prey on this energy by marking up prices. Thanks to the internet not only can we avoid the last-minute shopping chaos we are also able to compare prices online. However, if you plan to shop online or compare prices be sure to do so as soon as possible. If you are one who prefers to shop in person many retailers often offer a price match guarantee. So, compare your prices ahead of time and bring proof to the competing retailer.

7.) Get Creative
Save money on holiday gifts by making some of them yourself, consider giving a gift that you have handmade yourself. Websites such as Pinterest or Etsy are great at awesome DIY holiday gifts. Nothing is more special than receiving a gift that you knew someone put in their blood, sweat and consideration to make sure you enjoyed.

8.) Don’t Be A Fool For Credit
While holiday shopping this year be sure to limit your spending to one credit card, preferable the one with the lowest interest rate. This way you can save money by paying less interest when it’s time to pay off holiday purchases.

9.) Reap The Rewards
Don’t forget to reap the benefits of your credit cards. Its likely that throughout the year you have received a resourceful amount of points from your credit cards, use these points to offset your holiday spending by turning them into gift cards. This way you can give loved one’s gift cards as a gift or even consider using them to pay for gifts.

10.) Layaway Is Your Friend

Layaway allows you to spread your spending over a few months rather than spending a large lump sum which can cause a financial burden.

Face Your Troubles

Although these tips can assist you in making better financial decisions, no amount of last-minute holiday penny-pinching strategies will truly protect your bank account unless you have a solid financial plan in place. Holidays only make up a small portion of the year, but then what happens when the tree heads back in the garage and the season to be jolly is over? Addressing fundamental financial issues is a proven way to jumpstart your bank account long before the holiday season arrives. It might be time to finally address outstanding debt, pay off those maxed credit cards and begin living within your means.

It sounds easier said than done but Apex Credit Consultants is professional service that offer consumers a way to dig themselves out of debt. Consumers can re-establish their financial freedom on a fundamental level, and see long-term results, through professional credit repair. With a healthy credit score and bankroll, the holiday spending spree won’t be nearly as detrimental compared to years past. If you think you may be interested in credit restoration services or a free consultation please feel free to contact our office.

10 Ways To Reduce Holiday Debt