Piggy bank wrapped in holiday lights

Avoiding the Holiday Spending Hangover

Make sure you enjoy the moments and avoid the holiday hangover with these five spending tips.

December 05, 2016

By: Wealth Management

For many of us, December comes and goes in a blur with numerous events and trips. Our list of shopping must-haves is checked twice and anxiously marked complete. 

Make sure you enjoy the moments and avoid the holiday hangover with these five spending tips.

1. Use a Spending Plan

Doesn’t that sound fun! A SPENDING plan. Had I said budget, ugh, you’ve already turned into Bah-Humbug. The best way to avoid overspending is to spend only what you can afford. Decide how much you want to spend and stick to it. Make a list of all of the things you plan to buy, what it will cost and then make sure it is within your budget.

2. Avoid Impulse Shopping

Much like Santa who keeps a list and checks it twice, don’t stray from it. It’s easy to think buying one or two extra small items won’t have an impact on your spending plan, but they do. Don’t submit to the ‘SALE’ complex that something is too good of a deal to pass on. Determine what you want to buy for each person on your list and then stick to it with your spending plan in mind.

3. Wise buys

It pays to take some time to do comparison shopping. Whether shopping online or in person, doing a little homework can help you get the best deal. This is also true if you’re planning to travel during the holidays. Avoiding peak travel dates when booking flights can save you big.

4. Security

Make sure you are protected from fraud or theft this holiday season. The latest chip technology gives you greater fraud protection. Learn why swiping is out and chips and dip are in. 

5. Reward Yourself

If you’re purchasing the latest television or buying new slippers for a loved one, why not earn money back? The Great Western Bank Rewards Visa® gives you the flexibility to redeem points on merchandise, dining, and travel. Learn more about choosing a card that rewards you for using it.

 

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