In a perfect world, everyone would be able to afford everything they wanted to easily. However, for most people, that’s not always the case. Often affording big-spending moments means shuffling things around and doing some extra steps to manage your finances and make them spread out. This is especially true with managing your finances around the holiday season. However, there are a few things one could do to help their finances around the holidays, such as:
Set a Budget
One of the biggest mistakes people make is relaxed spending. While it may be enjoyable to go all out for the holidays, it’s not always feasible. Setting a clear budget will help you pull everything off without as much stress. It’ll also help you in the post-holiday recovery season. Set a budget and stick to it, you’ll find that the holidays and post-holidays are much more enjoyable.
The smartest way to help your finances last is by saving. This isn’t always feasible or easy for everyone to do, though most people should be able to put a little bit away per week. If you consider the math, putting away even $5 per week, from January to November, would result in a savings balance of $215. While that doesn’t sound like much, it’s an extra balance that you wouldn’t have had otherwise. If you can increase your weekly savings amount, you’ll be even better off.
Juggle Your Priorities
For many, juggling their holiday spending priorities is a bigger issue. To allow for a cushion, it’s best to stop all unnecessary spending at least a month before your shopping is set to start. From there, work out which spending habits are more of a priority than others, such as food or certain gifts, and work on those first.
There are many great ways to help spread out your finances this holiday season. From savings accounts to a new credit line, to juggling priorities, there are ways to make your dollar last. Ultimately, the best way to help your finances this season is through preparation and work. Just be sure to take some time to enjoy the holidays as well.