Repost: A Holiday Shopping Plan that Will Keep Cash in Your Wallet and Keep You Sane

Throw everything you’ve ever thought about holiday shopping out the window because it’s time for a massive reality check. We are officially in a recession, and while the results of Black Friday may show otherwise, America is broke. So this holiday season, it’s time for you to go old school- coupons, price comparison and shopping off priced stores.
Here’s Our Stress Free, Budget Friendly Holiday Shopping Plan

Kathryn’s Holiday Shopping Plan

1. Get Over Yourself.

Your kids are not going to remember they only received four toys instead of eight, but will remember that January when the lights were turned off for failure of payment.Your mom isn’t going to love you any less if you bought her LeCresuet pot from HomeGoods instead of Macys. She, will, however remember that you had to borrow money from her to pay your January credit card bill.  Remember it’s just one day a year and, if you’re religious, mass consumerism isn’t what the season is all about.

2. Set a Realistic Holiday Shopping Budget.

Your holiday shopping budget should not exceed more than 50% of yourpost life expenses budget, which is the money you have left over after paying off all of your bills. So if all your bills equal $3000 a month and you only have $500 left over, your holiday budget should not exceed more than $250. Small? Yes. Reality? You can’t afford to spend any more without going into debt.

3. Write a List and Check it Twice.

Write a list of everyone you need to purchase presents for this holiday season. Next to each name write the maximum amount you can afford to spend based on your holiday budget. Then write two or three gifts that fit into that budget next to each name.