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What To Watch Out For This Holiday Period With Your Finances


The holiday is around the corner, and many people tend to spend beyond their limits. Agreeably, you cannot wholly avoid paying a little extra during the holiday as necessities accompany the season. However, it is important not to strain your finances to avoid debt.

What to Watch Out for this Holiday Period with your Finances

After each holiday period, many Americans go into debt, which is simple – overspending. A recent survey has shown that most Americans have higher credit card debt during the holiday. Some survey participants admitted to increased pressure to spend during the holiday season.

Areas to Look out for During this Holiday Period

There are areas to look out for in your finances this holiday period. These areas include:

#1. Your Budget

The first step to getting it right in your finances during the holiday is setting up your budget and sticking to it. Agreeably, many people go through the pain of putting together a budget. However, the challenge is usually in keeping with the budget.

There will be many temptations to spend beyond what you have on your budget, so; you will need to apply a lot of discipline. Some of the areas you will have to look into in your budget are gifts and traveling expenses. The holiday period is characterized by giving gifts, so capture as much as possible all the gifts you will be giving out.

#2. Your Shopping

While showing love to others through your gift is necessary, ensure that you don’t go overboard with it. A small, thoughtful gift within your budget will mean a lot to your loved ones, so go for things you can afford. Also, while shopping for presents, be on the lookout for sops offering discount sales so that you can get your gifts at affordable prices.

Aside from gifts, you may also want to shop for other items. Avoid impulse buying. Please make a list of all you need to buy and ensure they are within your budget.

#3. Expense Tracking

One sure way of overspending during the holiday is spending without tracking your expenses. This is the time to polish your record-keeping skills. Ensure you record every expense made during this period and compare it with what you have on your budget. Doing this regularly will help you identify quickly when you are going overboard with your spending.

#4. Credit Cards Use

How you use your credit cards during this holiday period can determine if you end up in debt or not. If possible, avoid using credit cards during the holiday period and instead pay for everything in cash. If you stick to cash-only transactions, it will help curtail your spending as you can only buy what you can pay for. The holiday period is not a season to rack up more credit card debts as they are always challenging to pay back and come with high interest.


The holiday period is a period to spend quality time with family and friends, and you can do that without going into debt. Staying out of debt will help you enjoy the season more. So, go for thoughtful rather than expensive gifts, track your expenses, refuse to succumb to spending pressure, and be committed to your budget.