LONDON WALLET
  • Home
  • Investing
  • Business Finance
  • Markets
  • Industries
  • Opinion
  • UK
  • Real Estate
  • Crypto
No Result
View All Result
LONDON WALLET
  • Home
  • Investing
  • Business Finance
  • Markets
  • Industries
  • Opinion
  • UK
  • Real Estate
  • Crypto
No Result
View All Result
LondonWallet
No Result
View All Result

Spent too much this holiday season? Here are steps you can take to avoid a repeat next year

Tom Robbins by Tom Robbins
December 31, 2024
in Investing
Spent too much this holiday season?  Here are steps you can take to avoid a repeat next year
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


Ezra Bailey | Stone | Getty Images

Opening presents during the holidays is of course a lot of fun. But for many, opening those credit card statements will be just the opposite.

Months before the holidays hit, consumers were already bracing for the anticipated costs.

More than half of 2024 holiday shoppers, or 55%, felt stress at the costs associated with the season, according to a survey conducted online in September by The Harris Poll on behalf of NerdWallet.

Still, 32% of consumers thought it was important to purchase holiday gifts and experiences to show their love for family and friends, despite the expenses, the survey found.

“The holidays are hyped 24/7 for weeks before the actual days,” said Carrie Rattle, a financial therapist in New York. “This builds a level of almost manic euphoria and gives us permission to ignore a spending plan, achieve instant gratification and worry about the aftershocks later.”

More from Personal Finance:
Number of millennial 401(k) millionaires jumps 400%
Biden ends some student loan forgiveness plans
Why the ‘great resignation’ became the ‘great stay’

Those aftershocks are likely being felt right around now.

To that point, 10% of holiday shoppers this year were considering tapping their emergency savings for gifts, according to NerdWallet. Meanwhile, 9% said they’d prioritize their gift purchases over debt payments or other bills. (Some 2,000 adults ages 18 and older were polled.)

To avoid overspending during the holidays, people need to plan ahead and create a spending budget, experts say. There are steps you can take now to avoid a repeat next year.

Plan ahead and ‘bookend your shopping time’

It’s best to start thinking about big purchases, such as for the holidays, “when you are calm and rational,” Rattle said. That will likely be far in advance of when those events take place.

“Before the tide of emotional shopping overtakes you, know what you want to spend,” Rattle said.

This way, you can also take your time deciding what gifts you want to get people and to research the costs.

It can be a good idea to save throughout the year for the holidays, said Kristen Euretig, a certified financial planner and founder of Brooklyn Plans.

“You can simply set aside a monthly amount to a dedicated savings account and reserve it for holiday expenses,” Euretig said.

Starting early will also allow you to take advantage of different sales that pop up throughout the year, Euretig added.

Rattle recommends people make a list of the gifts they want to buy far in advance, and then space out their purchases to avoid breaking your budget.

“Buy once a week,” she said. “Bookend your shopping time by having an obligation before shopping, and right after your targeted completion time.”

“When you control your purchasing time you also control browsing,” Rattle added.

You can also be on the lookout for which of the gifts you bought people were actually put to use, she said.

“Reflecting on this helps you realistically separate what is truly valued by the receiver,” Rattle added.

Don’t miss these insights from CNBC PRO



Source link

You might also like

Small caps break out to a new high and may keep rallying heading into year-end

Walmart charts show four bullish patterns forming in the retail giant

71% of Americans say debt is high enough to limit saving or building wealth

Share30Tweet19
Previous Post

Nissan reveals 2025 Ariya EV incentives: Here’s how it stacks up against the competition

Next Post

VC Roundup: Crypto funding climbs to $13.6B in 2024, set to hit $18B in 2025

Tom Robbins

Tom Robbins

Recommended For You

Small caps break out to a new high and may keep rallying heading into year-end
Investing

Small caps break out to a new high and may keep rallying heading into year-end

October 15, 2025
Walmart charts show four bullish patterns forming in the retail giant
Investing

Walmart charts show four bullish patterns forming in the retail giant

October 15, 2025
71% of Americans say debt is high enough to limit saving or building wealth
Investing

71% of Americans say debt is high enough to limit saving or building wealth

October 15, 2025
A rebound in transportation stocks would be music to Dow Theorists. But don’t count on it
Investing

A rebound in transportation stocks would be music to Dow Theorists. But don’t count on it

October 15, 2025
Next Post
VC Roundup: Crypto funding climbs to .6B in 2024, set to hit B in 2025

VC Roundup: Crypto funding climbs to $13.6B in 2024, set to hit $18B in 2025

Related News

BYD is coming with a ridiculous 3,000 hp electric supercar

BYD is coming with a ridiculous 3,000 hp electric supercar

August 9, 2025
Nurses to ballot for more strikes as Government imposes pay deal

Nurses to ballot for more strikes as Government imposes pay deal

May 2, 2023
Telegram CEO Pavel Durov's arrest has worrying implications for crypto

Telegram CEO Pavel Durov's arrest has worrying implications for crypto

August 27, 2024

Browse by Category

  • Business Finance
  • Crypto
  • Industries
  • Investing
  • Markets
  • Opinion
  • Real Estate
  • UK

London Wallet

Read latest news about finance, business and investing

  • Contact
  • Privacy Policy
  • Terms & Conditions

© 2025 London Wallet - All Rights Reserved!

No Result
View All Result
  • Checkout
  • Contact
  • Home
  • Login/Register
  • My account
  • Privacy Policy
  • Terms and Conditions

© 2025 London Wallet - All Rights Reserved!

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?