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No one can stop spending, this is because day in, day out our expenses increases. This is with the fact that as humans, we basically have needs and to satisfy those needs, there is the need to spend money. And it doesn’t help with new products being introduced each and everyday.
Most people spend a lot during holidays and that brings our spending rate up. I am very cautious when it comes to my spending and I make sure to keep my spending in check especially during the holiday season. This is because if not, I might get carried away and end up spending more than I should.
If you don’t want to go overboard this holiday, then stick with me as we go through how you can keep your spending in check this holiday season.
1. Know Your Financial Status:
In spending you must know your financial strength. This is one tip which will help you keep your spending in check. Knowing your strength financially will make you purchase things which are of more importance and avoid things which you cant afford.
2. List The Needed items:
As the holiday season is approaching, I know for sure that you will be spending more and more. But to keep your spending in check, make a list of all the items you will be needing, where you will buy them from and also where you will go. Anything outside this list should not be considered.
3. Allocation Of An Amount To The List:
On the List You must allocate an amount of money to every item on the list. This will be used to calculate for the amount spent during the holiday and the amount left after holiday and help you save as well.
4. Avoid What Was Not Listed:
Sometimes we make a list of things we need and end up buying things which was not listed. For you to follow this list it takes commitment. You must not purchase anything that isn’t on your list. Unless of course it is a necessity you forgot to list and you only remembered when you were shopping. Remember you want to keep your spending in check.
5. Referring Back To The List:
At the end of the holiday season you must check your list to see if you were able to achieve what you wanted and that your spending is in check.
If you are able to follow what has been listed above, you will not spend more than you should.
SEE ALSO: 5 SPENDING RULES TO FOLLOW 6 EFFECTIVE WAYS TO AVOID DEBTS 5 APPROACHES TO MANAGING YOUR FINANCE BETTER