Make a list and check it twice to stay on budget

The easiest way to stay on budget while shopping this holiday season is to have a list and check it twice.

That, according to Matthew Keenan, credit and education counsellor with Credit Counselling of Sault Ste. Marie.

Shopping without a list, he said, can quickly lead to overspending as shoppers pick up little bits here and there without having a solid plan of attack or keeping a running total of expenditures.

Make a list of each person you plan to buy for, determine what to get them and set a spending limit for each, waiting for sale events to stretch your dollar further.

And while budgeting your holiday spending, don’t forget to factor in sales tax, something many consumers overlook.

“Many people also overlook the overall cost of the holidays,” Keenan added.

Everything from wrapping paper, travel, gift shipping costs, and holiday decorations to the family dinner can add up unnoticed and send your budget off the rails.

Keenan also recommended leaving the debit and credit cards at home, forcing you to keep within the confines of your cash on hand.

“I advocate that in every area of spending,” he said. “It’s so easy to overspend otherwise.”

If all else fails, handmade or gifts of a more personal nature can help you stay on budget and are often appreciated more.

Each February, Credit Counselling of Sault Ste. Marie sees a spike in client visits after consumers open their January credit card statements, Keenan said.

These simple tips can help avoid the need for their services.