Happy Thanksgiving everyone! It’s holiday shopping time! Have you got your credit card ready or do you plan to pay in cash? Are you prepared or do you dread the expense? Let’s discuss some ways to deal with the cost and avoid overspending.

First, create a REAL budget before you walk out the door or get online. Separate it into four types: gifts (including shipping), food and/or hosting, travel, and extras such as décor, events, etc. Second, make a gift list and determine how much you’ll be spending for each person. Third, use what’s called the 3-day rule. If you see something that wasn’t on your list, wait 3 days. If after 3 days, you still really want it, then revisit your budget. This will alleviate impulse buying as most impulses dissolve over time. Fourth, shop using your debit card or with cash. Don’t use your credit cards as overspending is easier that way.

Fifth, track every purchase using a notebook, spreadsheet, etc. Sixth, control the little things like getting more stocking stuffers, additional décor, lunches out while shopping, etc. Those little things can add up. Next, give home-made gifts if your budget is tight. Bake, create a photo album, provide a service to a family member to help them out, etc. Eighth, start shopping earlier so that you can spread out the costs over a few months. Yes, I know, a little late for that now. And, if you’re shopping on Black Friday or Cyber Monday, ask yourself if you’d purchase that item if it wasn’t on sale? If the answer is no, then don’t buy it.

Moral of the story:

While it’s too late to start this year, I recommend you create a budget category for holiday shopping time. You can start in December, or January, but I do suggest you add that category for 2026. Figure out how much you plan to spend then take one twelfth and put it aside in your savings account. By this time next year, you’ll have it all saved. Win, win!