With the biggest shopping weekend of the year rapidly approaching, many consumers use this time to kickoff their holiday gift shopping. In all of the excitement, it’s easy to overspend and blow a set budget, but stick to it in order to avoid starting off the New Year in debt!
According to the National Retail Federation, “American shoppers will spend just $750 on average on their holiday purchases this year, with a record percentage of shoppers buying online.”
To get started budgeting for holiday spending, consider using BBB and Clearpoint Credit Counseling Solutions’ Holiday Planner Calculator to compartmentalize categories like gifts, travel and food. You can set your overall budget and adjust it according to your needs and plans.
Other tips for sticking to a budget include making a list of all the people you want to shop for and setting a limit for the amounts you will spend on each person. Though many retailers offer holiday deals, always comparison shop. Remember that online prices may be better, but you have to factor in shipping and handling costs. Check out unknown companies’ BBB Business Reviews before you shop too!