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Saving For This Year’s Holiday Season Without Breaking the Bank

J.R. Gurrieri • Dec 15, 2022

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It’s no secret that inflation is driving up the prices for the 2022 holiday shopping season. Most are worried about the impact this will have on their bank accounts and while it would be great if Santa could cover the bills for us for the holidays this year, that isn’t a reality. However, having a plan can make a big difference. Making a list and staying within a budget is a good start.

Tips for 2022 Holiday Shopping.
  • Shop early. Take advantage of Black Friday and Cyber Monday….both seem to extend their offers beyond just the one day as well.
  • Ask loved ones for wish lists so you can shop with a purpose and not impulse buy. Staying on task will help save money.
  • You aren’t alone in feeling the pressure this year, suggest doing Secret Santa with friends and family so everyone can buy less gifts.
  • Avoid spending on yourself as you are shopping for others…it is tempting to treat yourself to holiday gifts as well.
  • Rethink holiday celebrations. Hosting parties come at a cost. Ask guests to participate in “pot-luck” celebrations so you aren’t cover the cost of all the food and drinks and don’t feel like you must attend every gathering you are invited to be selective because they add up quickly.
  • Create holiday memories and traditions. They are not only less expensive, but they can be more memorable. Friends and Family will appreciate spending time with you and doing something festive. Start new traditions like looking at Christmas lights and stopping for hot chocolate or volunteering.
  • Celebrate AFTER the holidays. Prices go up on everything during the holidays. Including hotels, shows, entertainment, etc. Making your plans after the season saves a lot.
  • Paying for the Holidays. Make sure you use low interest cards, or money you set aside. Check the terms of all your cards. Cards with rewards and cash-back options can go far during the holidays. One of our team members just saved $75 on holiday purchases at a local electronic retailer. Whatever you choose, make sure you read the terms, so you know when to pay them off without getting hit with high interest.

Black Belt Wealth Advisory is here to help you with ALL your financial questions. If you would like to schedule a free, one-on-one session, please contact me today.

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