Keep Your Holidays Debt-Free By Following These Tips

Ideally, you’d use this holiday season to save your money and not spend it since COVID-19 probably taught you about the importance of having an emergency fund. You may have been furloughed, seen your income dip, or lost your job altogether, making your finances a bit messy and money much tighter.

Does this mean you can’t enjoy the holidays and shop a little bit? Of course not. It just means you should be careful about your spending, which is precisely what following these tips will help you accomplish. Before we start, remember that the goal is to enjoy the end of 2020, but ensure you don’t start 2021 deep in debt.

Don’t Use Spending To Cope With Coronavirus-Caused Anxiety

This year has been filled with anxiety and uncertainty for several reasons. What do many people due to cope with anxiety? They spend money to get that quick dopamine rush that makes them feel good.

Avoid spending as a way to forget this year’s crazy events. It may make you feel good initially, but once reality sets in and you realize how much you spent, it’ll only make things worse.

If you know that spending is your go-to move when feeling down or anxious, try other coping strategies like meditation, breathing exercises, talking to a loved one, playing with your pet, etc.

Don’t Forget To Download Comparison Shopping Apps

There’s an effortless way to ensure you never overpay for your holiday gifts: Download price comparison apps, such as Shopbrain, Amazon, Yroo, and ShopSavvy.

Such apps can help you see which retailer has an item for the lowest price, and they even have barcode scanners so you can get greater insight into a product when shopping at a store.

While shopping for the best prices may have been a hassle in the past, you no longer have an excuse not to do it. Try some of those apps above, and you’ll see that getting the best deals takes a matter of seconds.

Don’t Feel Like Every Deal Is a Must

On a day like Black Friday, for example, it’s easy to have a fear of missing out. You feel that those deals will never appear again, which can trigger you to buy items you don’t need or can’t afford.

With the Internet, handy apps, and more, you can find deals all year long, so there’s no need to snag every good deal you see, unless it’s something you need and it fits in your budget.

Don’t Forget To Plan and Budget

Speaking of your budget, make sure you have one before your shopping season starts. Budgeting apps make it very easy to make one, and don’t forget to make a list, either.

With your budget and list in place, you have a guide to keep you from overspending. Stick to both, and you should be good to go as far as staying debt-free is concerned.

Don’t Overdo It

2020 is an abnormal year, so there’s no need to be normal with your spending. Tell your loved ones that there will be fewer gifts due to COVID-19 and the financial issues it caused. They’ll surely understand, and it’ll take a much-needed load off of your shoulders.