The holidays can put a serious dent in your wallet if you let it. Taking control of your spending this holiday season will help you start the new year on the right foot.
At The Policy Circle, we believe that understanding your personal finances will empower you to make wise, informed, and responsible decisions. And it starts with something as simple as planning for your spending this holiday season.
How much can you afford to spend this holiday season? Figure out that number, break it down even further by person, then try to stay as close to that as possible. Take this quiz to see if your wallet is ready for the holiday season.
Instead of getting a gift for every sibling or person in your family, do secret santa or white elephant. This is a really fun one because it’s a surprise!
You can buy things second-hand from online sites like Poshmark, Mercari, Ebay, or Facebook Marketplace. There tons of brand new clothes, toys, shoes, electronics, sold at a huge discount. (You can feel good about this one because it’s a sustainable option, you’re giving something a second life).
Credit cards make it easy to overspend because you feel like you have unlimited funds. Use your checking account so that you only spend the money you have, and don’t have to worry about paying off those credit cards and racking up interest.
Take on a side job or sell some of your old clothes or things. If you make some extra income in one month then you won’t have to worry about going into debt. Need some inspiration? Here’s 32 ways to make extra money.
You don’t have to be a professional baker to whip up some fudge, blondies, or rice crispy treats. These are some super easy recipes that you can’t mess up, and are sure to be crowd pleasers. You can dress them up in a cute box with a bow and give them out as gifts. It’s cheap but is a special gift from your heart.
Taking control of your spending this holiday season is just one small step to better understand your personal finances, also known as financial literacy. Here are four ways you can continue learning about money management:
The Policy Circle is a 501(c)(3), nonpartisan organization that provides pathways for women to become courageous, knowledgeable and active citizens who identify and take ownership of local solutions to the issues facing their communities. Please consider supporting our mission and developing your own leadership skills by becoming a financial supporter.
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