Smart Budgeting for Holiday Shopping

Video Transcript

Hey this is Chris with Money Burst, and with the holiday season right around the corner it's time to talk about smart budgeting. Let's dive into how you can enjoy the festivities without stretching your wallet too thin.

Tip number one: Set a realistic budget.
So, start by figuring out how much you can comfortably spend. Remember that the best budget is the one that works for you, not against you. So, consider all your expenses, not just gifts, but also decorations, food and travel costs.

Tip number two: Track your spending.
Keep a close eye on where your money is going. You can use a simple notepad and pen, a spreadsheet, or one of the many budgeting apps that are out there. This way, you know where your money is going and you can avoid those situations where you have to say to yourself, "I guess I got to eat ramen until payday."

Tip number three: Get creative.
You can stretch your budget with a little bit of creativity. Homemade gifts can be both very personal and cost effective. Think baked goods, handmade crafts, or even a personal letter. It may sound a little cliché, but sometimes it really is a thought and effort that count.

Tip number four: Plan ahead.
Avoid that last minute rush by planning your shopping early. This gives you all the time you need to compare prices, find deals, and make thoughtful purchases without the pressure of time ticking away.

So, there you have it - your guide to smart budgeting this holiday season. Remember, the holidays are about joy and celebration, not financial stress.