What’s a system I can use when doing my holiday shopping?

The holidays can be a time of sensory overload – so much to do, so many events, lights, and people — that it’s easy to become overwhelmed. And, when people are stressed, it’s easy to overspend. To avoid spending more money than you want during the holidays, take time to create a spending plan system that works for you!

What do I need for an effective holiday spending system? I need:

  • To know how much money I want to spend;
  • To know who or what I want to spend money on;
  • A way to track spending; and
  • A way to keep track of what I’ve purchased.

Before you start shopping, think about what kind of system would work best for you. Do you like a(n):

  • app,
  • envelope,
  • small book,
  • budget sheet?

Any of these, and others, can work. Creating a holiday spending system can give you peace-of-mind and help you control your spending, including how much you charge on credit cards. For a free, one page, holiday spending plan form to help you go to http://go.illinois.edu/holidaymoney and click on Control Holiday Credit Card Debt.

Written by Kathy Sweedler, Consumer Economics Educator, University of Illinois Extension.