The holidays are here once again and as December winds down, people are gearing up for their end-of-the-year celebrations. The time before Christmas is one of the busiest shopping seasons of the year and between, food, gifts, and travel, it can be easy to accidently go over Budget. If you think you might be in danger of overspending, the three tips listed below can help you to avoid racking up holiday debt.

1. Set a budget: the first step in any financial endeavor is to take a look at your current expenses and create a budget outlining exactly what you can spend. If you have never created a detailed budget before, now is a great time to start. Are there any monthly expenses that can be minimized or cut entirely? For example, driving may save more money than flying. When you have determined your budget, remember to stick to it.
2. Create a plan: Once you have determined how much money you have to spend on things like traveling, gifts, and eating out, you can move on to creating a plan for how you are going to allocate your resources. Deciding what you are going to purchase before you ever set foot in a store can help to keep you on track and greatly curve impulse buys. Just because something is a great deal doesn’t mean you can afford it. Furthermore, consider focusing your spending on emotional impact rather than on expensive gifts.
3. Do your research: After you decide what you want to buy, it’s time to shop around for the best deal. A few minutes or hours of research online can help you to save big bucks. In fact, some online services and stores will even send you notifications if an item on your list goes on sale. Start early and sign up for email alerts and coupons so that you have time to explore all of your options.

If at any point you find yourself going over budget, don’t be afraid to change your plan. Asking friends for help shopping or to keep you accountable can be another great way to stay within your budget over the holidays.

About the Maida Law Firm, P.C.

The Maida Law Firm has been helping clients to navigate through the difficulties of bankruptcy for more than 90 years. When you have made the decision to seek freedom from debt, the firm’s Beaumont bankruptcy attorneys can help you to explore your legal options. If you would like more information on the services the firm offers or you have a specific question about your situation, request a free case evaluation.

Do not wait to free yourself from the burden of debt. Call (409) 234-1490 to get started.