Purse Power 12.5

As a busy mom, the holidays can become overwhelming. Adding decorating, shopping, travel, and potential family drama on top of everything else can be a major source of stress. And then the worries about money pile on. Or the credit card bill arrives in January, and you’re already behind to start the year. Here are three ways to stick to your holiday budget:

1. Have a plan. Sants shouldn’t be the only one making a list and checking it twice. Decide who you really need to buy gifts for (can you do a Secret Santa for the family or only give gifts to little ones?) and how much you’re going to spend, before you head to the mall.

2. Bring cash. Leave your credit and debit cards at home. If you’ve made a list and you know what you have to spend, stop at the bank and take out that much cash.

3. Buy what you need. Just because something is on sale or a great deal doesn't mean you need it. Stick to your list, and don’t fall into the trap of thinking you’re saving money because it’s on sale. You still spend money to buy it. And stores will surround a loss leader with over-priced items; ignore those and just get what you came for. Same goes for the impulse buys that are stocked along the line to pay.

Enjoy your holiday and remember that the next six weeks should be about family and friends, and connecting with one another.

You can find great resources, calculators, and register for our educational events on our website at www.covingtonalsina.com. If you have questions, email us at [email protected].