How to Keep Your Christmas Spending Under Control

Staying in control of your spending this Christmas can only be done if you have a game plan set up ahead of time and the willpower to stick to it. Here are five steps to help you keep your holiday spending in line and give you the willpower to stick to your plan.

Keep Christmas Spending Under Control by Stashing Money Now

The earlier you can start this the better. I have been putting $20 away every paycheck all year. It only amounts to a little over five-hundred dollars but I can do most of my gift and food shopping for that. If you are starting a couple of months before Christmas you can still manage to stash away something.

Do you have a change jar? This may be the time to cash it in. Use the change to help defray the cost of Christmas dinner or presents.

Keep Christmas Spending Under Control by Budgeting

Everybody hates the 'B' word but a budget is essential in order to control your holiday spending. Make a detailed budget according to the amount you want to spend on each person, decorations, cards, wrapping paper, and food. Write the budget down in a notebook and carry it with you. As you shop, write down the amount that you spend in each category and subtract it from you total budget. If you write it all down then you will be less likely to impulse buy that cute little dancing Santa that retails for $40.

Keep Christmas Spending Under Control by Making Detailed Lists

I keep a list for everything and holiday shopping is no different. You already have your budget in a notebook so now it's time to expand on it. You will need a list for groceries, baking, and all the little extras that go along with the holidays.

You should also get a detailed list of what specific things you want to buy for each person. This will help you with the next step because without an idea of what you are going to buy you are more likely to overspend on gifts.

Keep Christmas Spending Under Control by Shopping the Ads

Now that you have your detailed lists you can get the best deals by shopping store ads and online sales. If you know what the item normally costs then you can tell whether or not there is a savings when a store puts it on sale. This also holds true for holiday groceries and baking items.

Keep Christmas Spending Under Control by Writing Down Your Plan and Sharing it with Someone

Now that you know how much you are going to spend on the holidays you need to share the whole thing with someone: a spouse, your mom, or even your kids. You can make a copy of your plans and budget for extra security. If you are accountable for your actions then you will more likely to stick to your budget.

The biggest challenge to keep from overspending during the holiday is impulse buying. By following these five steps you can control that urge and keep your Christmas spending under control.