The holidays are here! In December, we celebrate many holidays. And this is also the time of year when it is easy to overspend and go off budget. With the tips below, we can still find ways to keep spending on track.

BE HONEST…

Ask yourself, “What can I spend this holiday without going into debt that I will be repaying in 2022?” If you have plenty of room in your gifting budget – wonderful! However, the truth is most of us get caught up in the holiday “spirit” and spend more than we should. Not to worry, if you are feeling a little (or a lot) overwhelmed and overspent, the next tip will help you gain some clarity with this year’s holiday spending and plan for next year.

MAKE A LIST…

It is incredibly easy to forget what you already bought and for whom you bought it. Start by making a list of who you want to gift this year. Then do a quick inventory of what you already purchased or have on order. Next match the gift with the names on your list. Take note of the gaps and make a list of what you need to purchase. This is also a good time to evaluate whether you need to buy a gift for that person on your list. Ask yourself if there is a less costly or no-cost option.

GET FAMILY AND FRIENDS ON BOARD…

It is not too late to say to your family and friends that you are trying to stay on budget this year and will be trimming the gift-giving list. Be creative! Exchange homemade gifts (upcycle things you already have). Have a gift exchange so instead of buying gifts for everyone, you only buy one.

As a parent or a caregiver, we can hold ourselves to an impossible standard when it comes to gift-giving for our children. If your kids are young, start a tradition, where Santa only gives one or two unwrapped gifts under the tree and if your kids are older this is a great opportunity to discuss things like needs vs. wants, giving to others, and even the environment.

PLAN AHEAD…

Think about 2022. Set up a holiday account with your bank or credit union. Start small and make it automatic. Set up an auto-transfer payday. Start planting the seeds of your 2022 holiday budget by preparing family and friends for a whole new gifting you in 2022.

TALK TO AN EXPERT…

If you find that 2021 spending is overwhelming you in 2022, call us. Our certified financial counselors can help you clarify your options and get debt under control. To contact Clarifi call 800-989-2227 or go to clarifi.org.

The holidays are a great time to enjoy spending time with family and friends, and you don’t have to break the bank to show your love and friendship. In the long run, it is the thought that counts, and not the dollars you spend.