12/03/2025
“It’s easy to overspend during the holidays because we want to find just the right gifts and host the perfect family gathering, but the holiday season is here,” she said. “People need to realize the holidays are not about gifts – it’s about making memories together. However, if gifts are part of the plan, remember they don’t have to be expensive. Time is one of the best gifts to give. It’s free, and it provides a wonderful opportunity to create lasting memories.”
Rushed shopping is one of the biggest culprits behind holiday overspending. As consumers feel the pressure of buying and wrapping gifts, it becomes easier to exceed set spending limits. To help avoid overspending, plan to use only cash for gift purchases. Wang said that credit and even debit cards can lead to overspending.
Try to avoid the “buy now, pay later” deals some retailers offer. These make it easier for consumers to overspend. When the bills come due in January, it may still be challenging to come up with the money to pay them in full. If the bills can’t be paid in full, consumers will have to pay interest, which makes the items even more expensive.
“Withdraw the money you have available to spend, and once that’s gone, you’re finished shopping,” she said. “Another option is to withdraw cash and put it on a prepaid card. This will allow families to do some online shopping while still dealing with a cash limit. It’s important to be strict with your budget for food, gifts, decorations and get-togethers.”
There may not be time to develop a full holiday budget plan, but careful planning and thoughtful spending will help ensure a great holiday without breaking ...
