Keep Your Financial Sleigh on Course During Holiday Shopping

Monday, November 23 at 09:35 AM
Category: Personal Finance

Holiday shopping can easily get out of control when you have a long list of gifts to buy, and you’re easily enticed by the latest gadget, toy or trend in the store window. Review these tips to rein in your spending before your financial sleigh gets off course.

Set a budget. This basic principle often gets abandoned when you have the non-routine expenses of the holidays. BEFORE you begin shopping, decide how much you’re going to spend on each person. Don’t forget your co-workers, babysitter, housekeeper, lawn maintenance person, postal delivery worker, etc. Allocate some money for people you may have forgotten when making your list. 
 
Start early. When you keep your eyes out for gifts, even before the holidays, you give yourself time to find a good deal so you’re not pressured to overspend on a gift at the last minute. 
 
Take advantage of free shipping. Many online retailers offer free shipping during the holidays. Take advantage of this offer, and it’ll save you the cost of gas and parking associated with going to a brick and mortar store. 
 
Team up with a friend. If you find buy one get one free sales or discounts for buying in bulk, then team up with a friend to share the goods and the savings. 
 
Accumulate rewards. An indirect way to save money is to earn money! Consider opening an Arvest Credit Card with Arvest Flex Rewards which can be redeemed for travel, shopping and dining rewards. Apply online
 
Don’t indulge. Your child doesn’t need every toy he or she desires. Just because an item is on someone’s wish list doesn’t mean you have to buy it for them, especially if his or her list is long.
 
Personalize it. Buy basic gifts and then add a personal touch at home. For example, buy plain stationary and then use letter stamps to put the receiver’s initial on each card. The receiver will appreciate the personalized touch and your wallet will appreciate the money saved from not buying customized items. 
 
With some conscious planning and forethought, you’ll hear the sleigh bells and change in your pocket jingling as a reminder to enjoy the season by shopping within your means. Come January you’ll feel like you’re riding along in a wintery fairyland when you see a positive balance in your bank account.
 
Blog edited by Blog Admin 1/4/16.

Tags: Arvest Flex Rewards™, Arvest Rewards, Budgeting, Credit Cards, Financial Education
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