Holiday season is a great, yet expensive time. All the decorations, parties, cards, cookie baking and gifts for everyone on your list add up. Studies have found that almost 80 percent of Americans overspend on holiday purchases. Here are three tips to help keep holiday spending on track:

Create a Budget for Holiday Spending
Creating a budget specific for holiday spending is a great first step to avoid overspending. Whether you’ve been saving up to buy gifts or if you’re going to use a portion of your existing spending budget, make sure to determine how much you want to spend overall. Then you can determine how many gifts you want to buy and how much to spend on each gift. Be sure to leave a little room in the budget, in case you forget a gift or get invited to a gift exchange.

Use Credits Cards Wisely
Using credit cards for holiday purchases can be a great idea for some people, particularly those who have a rewards-earning card or are trying to build your credit. However, you should make sure you have a plan to pay off the card balance without incurring any unnecessary fees. If you plan to use credit cards for your holiday spending, make sure your post-holiday budget leaves some room for making payments.

Be Careful Not to Overdraft
Holiday shopping can be a frenzy–especially if you’re shopping in a large mall or trying to take advantage of multiple sales. Having a budget is a great first step, but if you’re using a debit card you’ll also need to be aware of your account balance and any daily spending limits. Some banks allow you to temporarily increase your daily spending limit if needed, so be sure to call in and check before you head to the mall!

© Copyright 2019 Apollo Insurance Official Blog | Powered by Stratosphere Marketing Solutions