Curb the Urge to Splurge
Let’s start with the basics: The holidays aren’t the time to pay back,
impress or splurge on gifts.
Too often, holiday shoppers try to deal with guilt, neglect, and a thousand other sentiments that have little to do with the spirit of the season, by buying far more than they can afford.
As a result they drain family resources, overextending credit accounts and reducing savings accounts. Many splurge shoppers end up having to cope with a serious financial burden long after the holidays.
A plan, a budget, and a list can help you curb the urge to overspend at the height of the holiday buying season. You may even enjoy the process of preparing without the panic, and maybe even without the guilt.
Here are some tips that may help:
- Make your shopping list now and include only those family and friends with whom you
want to exchange gifts. Send cards to others. You can’t give gifts to everyone,
but you can share holiday greetings.
- Decide how much money you have to spend and estimate how much of that total amount
you will spend on whom. Then think about an appropriate gift for each within your price
range before you set out to shop.
- Planning now gives you time to buy the materials and to create homemade gifts for a
less expensive holiday, adding a personal touch to your giving. Making gifts at home
during the next few weeks is an excellent opportunity to involve your whole family in
the process.
- Many retailers have pre-season sales. On-line retailers often offer free shipping
for a short period. Once you have a clear idea of what you need to buy, shop now to take
advantage of these sales and early season selection.
- After each shopping trip write down how much you’ve spent. Keep your list up to
date. Some shoppers buy early and forget what they have, risking needless panic buying at
the last minute.
Remember, stress and fatigue often lead to poor buying decisions. Start early to avoid overspending, to avoid the mad rush, and to enjoy the process. You may find that being prepared will curb your urge to splurge.
By Suzann Enzian Knight, UNH Cooperative Extension Family Resource Management Specialist
