How To Avoid Overspending Over The Holidays

Holiday season is upon us and unfortunately, the economic crisis seems to get worse for most Kenyans as more taxes are imposed on them. Usually, people tend to go out during the holidays and end up broke in the new year.

Adopting healthy money habits is essential to avoid having your lights or water cut, walking to work or school, and eating only vegetables when you are not vegan in January.  Here are a few key steps to avoid overspending.

Opt for homemade gifts.

This not only saves you some money but also gives a personal touch to the gift. You get to be creative and explore different ideas of what would make the person you are gifting happy. There are a lot of ideas online for possible gifts.

Create a budget.

Estimate how much you plan to use during the holiday. This also helps you put money aside towards your budget accordingly. You then get to set a budget based on the amount of money you’ve set aside.

Manage expectations.

If you are trying to cut costs and use your money wisely this year. Inform your family or those who are directly around you about the changes you set to make. Also, start considering other locations to buy your gifts and other holiday items.

Take advantage of sales.

Right before December is the Black Friday and Black November sale. This is a great time to shop for gifts, clothes, and other items you will need for the holiday. Save using coupons and also take advantage of the last-day rush sale.

These four tips are a key start to help you manage and avoid overspending during this holida. Regardless of the economic times, it is still possible to have a merry holiday.