LIMA, OHIO (WLIO) - As we approach the holiday season of giving, it's important to have a plan to avoid overspending.
As we approach the holiday season of giving, it's important to have a plan to avoid overspending.
According to the National Retail Federation, the average holiday season spending per person was around $875 in 2023 and is expected to grow up to $902 dollars, making it even more important to shop smart and create a budget beforehand.
"First of all, always have a budget: plan out what you're going to shop for, the people you are going to buy for, and stick to your budget," said Ann Meiring, a financial advisor for Citizen National Bank. "We all tend to overspend; it's really easy to do, so if you can start with that, that is one of the best things to do. Like for my own family, we decide this is the total amount we are going to spend for the year, and then we break it down into different people and what we will spend on those people. If they are little kids, you might not need to spend as much. For older people, you might need to spend more; it just depends on your situation. But just having an amount in mind when you're going shopping and when you're looking for things to buy. It just makes it so you're not overspending."
Couponing is another great thing to do to save money, as well as using cash to avoid paying off your Christmas gifts going into the next year.
