Budgeting Tips for the Holidays

Black Friday shopping is right around the corner. Here are a few helpful tips when taking the plunge:

1. Determine your budget

• Set a dollar amount. Do you have any money set aside for gifts? If not, how much can you save between now and Christmas?

2. Create your gift list

• Include family, friends, co-workers, neighbors, church, etc.

3. Prioritize your list and assign a dollar amount to each person

• Based on your budget, assign a dollar amount to each person. If you don't have enough money to cover everyone on your list, consider making homemade gifts or cards. There are many website that have great ideas.

4. Only buy on-sale items and use coupons or promotional codes

• You don't have to wait until Black Friday and Cyber Monday to find a good deal. Retailers began putting their merchandise on sale in September. Take the time to compare prices.

• If you are shopping on-line ensure you use promotion codes and coupons. These can all be found on line.

5. Stick to your budget!

• Try the envelope method. Write the name of each person on your list onto an envelope. Put the budgeted amount of cash in their envelope. Only spend what you have in the envelope. This will help you avoid spending more than you budgeted.