The holidays are a joyful time, but they can also bring financial pressure. Experts offer advice on how to manage holiday spending and avoid overspending.
FILE - People carry shopping bags, Saturday, Dec. 10, 2022, at Downtown Crossing in Boston. The National Retail Federation, the nations largest retail trade group, expects holiday sales growth will ease to a range of 3% to 4%, compared with 5.4% growth a year ago. The forecast, released Thursday, Nov. 2, 2023, comes as shoppers keep spending, powered by sturdy hiring, low unemployment and healthy household finances.
“You can avoid feeling inadequate, or like you're not doing a good job, by having an honest conversation about where your finances are,” Watson said.can be difficult, but sharing if you are struggling with debt or other financial issues can help family and friends understand that they should prioritize low-cost gifts or activities.Planning your holiday shopping ahead of time can make it easier to stick to your budget,.
“I will do babysitting for you, I will cook a meal for you,” Wills said. “Those kinds of things take a financial pressure off and make for a more joyous holiday season.” “Sometimes you may have a family member that is very financially well-off and they love to treat you to big, extravagant things. If you’re not in that same financial position, you should not feel compelled to return the favor,” Bodge said.
HOLIDAYS SPENDING BUDGETING GIFTS DEBT
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