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Nine ways to reduce your holiday money blues!

By Glenn S. Ferguson

The holidays are here-the time of the year when you are feeling most generous and your giving spirit is at it maximum!And this is compounded by all of the well-crafted advertisements that are bombarding your senses with screams of bargains and great deals.

So here are nine things that will help you to control that insatiable shopping urge that you will certainly have to spend money on this holiday season and reduce your holiday money blues!

1. Make spending difficult. You can do this by staying away from all of the sales promotions that are going now. Ensure that your radio and television are not set to stations and events that will play on your emotions. And if you have shopping to do plan your route through the malls and stores, make your purchase and get out as quickly as possible.

2. Use cash only. Leaving your credit card, debit card and checkbook at home and instead carry only enough cash to meet my needs for the day. This will also force you to plan ahead.

3. Keep your credit card balance close by. Reality checks are always great so keep your last credit card statement handy and look at it just before spending any money. Then decide whether which would be the better use of that money-reducing your credit card balance or spending on the item being considered.

4. Think before you buy. And if looking at your credit card balance does not work here is another simple but very powerful idea. When confronted with the temptation to buy ask yourself these three questions:

If this weren’t on sale would I still buy it?

Don’t I already have something that will do just as well?

Why don’t I go home and think about it?

5.Try saving instead. You will be pleasantly surprised to find that saving money is just as exciting as spending money, but without any of the quilt and remorse that usually accompanies overspending. So continue to

save as usual this holiday and always save before spending.

6. Limit your gift purchases. You should decide on how much money you are going to spend on gift giving and on each gift. And then create a spending plan that will allow you to achieve your spending objectives.

7. Get your family involved. Talk about your holiday spending with your family and make sure that you are all on the same page about your spending.

8. Comparison shop. Be sure to compare prices on all major purchases by searching both online and print media before buying. And always ask yourself”is this really the best use of my money right now?”

And finally you would be surprised at how much money you are spending on food during the holiday. So try keeping your appetite under control. As holiday food can be really expensive and will send your spending spinning out of control.

Copyright©2009-2010-Glenn S. Ferguson

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