Blogging for Change

Five steps to take before heading to the stores this season

by Jesse Campbell on
11/9/2016
in Budgeting and Building Savings

 

While some of us (this humble blogger most certainly included) do everything in our power to avoid seeing the inside of an actual, physical store during the holiday season, for many others the season just wouldn't be the same without that in-person shopping experience. In truth, there are quite a few great deals you may only be able to access in stores, making such trips worth your while.

However, it is also true that visiting stores during the holidays can be quite treacherous, especially if you don't take steps to limit your spending. That's why it's so important to prepare yourself ahead of time, before you've even left the house. Consider the following five ways to safeguard against holiday overspending.

Create a plan – Knowing who you’re shopping for, what items you hope to find, and most importantly, how much you intend to spend is critical to a successful shopping day. Commit in advance to stick to your plan, and enlist an accountability partner if necessary, as it is very easy to be caught up in the excitement of the moment and get off course.

Know what you currently owe – Review all existing debt obligations, tallying what you’ve already spent and committed to repay. This reality check may put a temporary damper on your holiday mood, but that’s better than digging the financial hole even deeper.

Find the best deals at home – Shop from home before heading for the stores. Compare prices online, as well as local circulars for sales in your area. Be aware of time restrictions, as some prices may only apply during certain time periods throughout the day. Once the actual shopping begins, going directly to the store which has your item at a good price will save you time, gas, money, and frustration.

Remove all unnecessary cards from your wallet – Spreading purchases across multiple cards makes you feel as though you’re charging less and can trick you into overspending. Designate one card for holiday spending, and remove all others from your wallet. This will not only help you stay within your budget, but will also lessen the damage in case of loss or theft.

Beware of special credit card offers – Issuers are tempting consumers by offering incentives such as no interest balance transfers, extra perks by meeting certain spending levels, and increased cash back in specified categories. However, no deal is a good deal if you can’t afford it. Responsible shoppers will commit to spending no more than what they can repay in full when the bill arrives, regardless of how many bonuses are tacked on.

Jesse Campbell photo.

Jesse Campbell is the Content Manager at MMI, with over ten years of experience creating valuable educational materials that help families through everyday and extraordinary financial challenges.

Recommended Articles

Man sitting in front of pile of bills, trying to understand his options.
Professional Budget Advice
Make the most of every dollar and start building toward your dreams! Budget counseling is FREE and available 24/7.
Learn More
Learn more
  • Better Business Bureau A+ rating Better Business Bureau
    MMI is proud to have achieved an A+ rating from the Better Business Bureau (BBB), a nonprofit organization focused on promoting and improving marketplace trust. The BBB investigates charges of fraud against both consumers and businesses, sets standards for truthfulness in advertising, and evaluates the trustworthiness of businesses and charities, providing a score from A+ (highest) to F (lowest).
  • Financial Counseling Association of America Financial Counseling Association of America
    MMI is a proud member of the Financial Counseling Association of America (FCAA), a national association representing financial counseling companies that provide consumer credit counseling, housing counseling, student loan counseling, bankruptcy counseling, debt management, and various financial education services.
  • Trustpilot Trustpilot
    MMI is rated as “Excellent” (4.9/5) by reviewers on Trustpilot, a global, online consumer review platform dedicated to openness and transparency. Since 2007, Trustpilot has received over 116 million customer reviews for nearly 500,000 different websites and businesses. See what others are saying about the work we do.
  • Department of Housing and Urban Development - Equal Housing Opportunity Department of Housing and Urban Development
    MMI is certified by the U.S. Department of Housing and Urban Development (HUD) to provide consumer housing counseling. The mission of HUD is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD provides support services directly and through approved, local agencies like MMI.
  • Council on Accreditation Council On Accreditation
    MMI is proudly accredited by the Council on Accreditation (COA), an international, independent, nonprofit, human service accrediting organization. COA’s thorough, peer-reviewed accreditation process is designed to ensure that organizations like MMI are providing the highest standard of service and support for clients and employees alike.
  • National Foundation for Credit Counseling National Foundation for Credit Counseling
    MMI is a longstanding member of the National Foundation for Credit Counseling® (NFCC®), the nation’s largest nonprofit financial counseling organization. Founded in 1951, the NFCC’s mission is to promote financially responsible behavior and help member organizations like MMI deliver the highest-quality financial education and counseling services.