Don't Let the Holidays Bust Your Budget

End-of-year festivities bring lots of joy–and debt, if you aren't careful. There are lots of ways to resist the pressure to spend, spend, spend at holiday time without being a Scrooge. Here are a few:

Make a list and check it twice.
Don't wait until you're at the mall to decide who you'll buy for and how much you'll spend. Spend an hour ahead of time deciding how much you can afford to spend total, who you want to give a gift to, and how much of your budget to spend on each person.

If your budget falls short of your list, consider low-cost gifts like cookie mixes or other homemade treats, a note about how much you appreciate them, or–for acquaintances–simply a greeting card.

Give loved ones an experience instead of a gift.
There's no law stating that you have to give a gift to everyone you know. If you're feeling overwhelmed by your gift list, plan a party, potluck, game night, hay ride, or other outing instead. Be sure to take lots of pictures. Then, if you still feel like you should give a gift to someone who attended, make it a framed picture from the event.

Use coupons, gift cards, and credit card rewards to buy gifts.
If you're a savvy credit card user, chances are you have some rewards points saved up. Redeeming them for gift cards or products can save you big money. Likewise, if you get a gift card that you have a hard time spending, think about who might enjoy it more than you. If you aren't comfortable passing on the gift card itself, you can use it to buy the person's present.

Often, it's plain old guilt that keeps people from staying within budget at the holidays. Once you take a stand for your financial goals, you might be pleasantly surprised at how many of your friends and loved ones are glad to celebrate in less expensive ways.

70AFS