How to Buy Fantastic Gifts Without Fearing the January Bills

The holiday season will be here before you know it. Now is an excellent time to start handling your holiday shopping affairs so you're well prepared before life gets extra busy. If you're working to reach your financial goals, you may feel stressed about the upcoming gifting season. But I have some good news. Buying gifts your friends and family will love without going into debt is possible. The following tips can help you stay in the black as you shop.

Set a holiday shopping budget

Before you do any of your holiday shopping, take some time to review your finances. By doing this before you shop, you can consider your current financial obligations and debts and determine how much money you can comfortably afford to spend on presents. Next, set a holiday shopping budget. Having a spending limit in mind can ensure you stay on track as you shop. Only spend what you can afford to avoid racking up credit card debt.

Don't wait to shop

Getting some of your shopping done earlier in the season can be a win for your wallet. Waiting until the last moment to shop can cause added stress and result in an expensive credit card bill. By purchasing some gifts early in the season, you can spread out your holiday shopping expenses, so you're not stuck paying for all your purchases at the same time.

Remember, paying your entire credit card bill every month is the best strategy. You'll be charged credit card interest if you only pay the minimum amount due listed on your bill. Spreading out the cost of your gifts can make your credit card payments more manageable.

Get creative

Many people buy their family and friends gifts like clothing and electronics. But those aren't the only gift ideas. Instead of picking up gifts at your favorite online retailer, consider other ways to show your loved ones you care. Don't be afraid to get creative. A homemade painting for a family member who recently bought a home is one example of an affordable gift with meaning. Your creativity can help you keep more money in your bank account.

Put your unused gift cards to use

Perhaps you have a collection of gift cards you still have not used from the previous holiday season. Now is the perfect time to put those gift cards to use. Using gift cards to purchase gifts can help you keep your holiday spending to a minimum. Plus, it ensures your gift cards don't go to waste. Gift cards are valuable, so don't shove them in a drawer and forget about them.

Remember that it's the thought that counts

It's the thought that counts. While this may be a clichéd saying, it's true. As you do your shopping, make sure you focus on choosing thoughtful gifts. Your loved ones will appreciate that you went out of your way to do something nice. Don't be tempted to buy something because it looks impressive or is expensive. Instead, stick to your budget and choose meaningful gifts.

Don't overthink it

If you still have not started your holiday shopping, there is plenty of time. Consider your finances as you decide who to shop for and what gifts to buy this holiday season. But don't get too obsessed with trying to find the perfect gift. You can purchase fantastic gifts without ignoring your financial goals. When buying gifts consider paying with a rewards credit card to earn valuable rewards. For more money-saving tips, check out our personal finance resources.