The holiday season is once again upon us, and accompanying it is the temptation to spend a bit more money on presents for loved ones as well as yourself. With big shopping days like Black Friday and Cyber Monday behind us, now’s a good time to reassess recent purchases we might have made in haste.

Originating in the 1950’s, there is this crazy phenomenon called Black Friday (the phrase was coined in 1961), where shoppers storm stores in hopes of getting a “can’t miss” bargain. In my experience, in the days leading up to Black Friday and Cyber Monday, retailers offer almost the exact same bargain prices. Additionally, with a little couponing and patience, you could potentially buy big ticket items earlier in the year and avoid the holiday season rush altogether!

This Business Insider article also highlights why Black Friday shopping isn’t as glamorous as it’s advertised. According to the article, “[w]hile there are some opportunities to save money on Black Friday, you can often find some of the most popular Black Friday items at lower prices at other times during the year (Business Insider).”

Then there is the last minute procrastinators. I’ve known many friends and family members who’ve waited until the last minute to buy presents for the holiday season. The overall consensus I’ve heard is that they regret spending so much money all at once. In some instances, they’ve even had to call their credit card company and ask if they could increase their available credit limit. While increasing a credit limit has its benefits, it can also lead to a financial pitfall for those who overspend and don’t have the means to repay.

So, what’s the solution? Smart budgeting, planning and time management are three keys to buying presents for the holidays. Instead of going through the overwhelming process of purchasing presents all at once, make purchase throughout the year. It’s not worth the financial and emotional stress to shop even more as the holidays approach.

Companies have used marketing messages and advertising to convince us to buy their products to impress loved ones. When in truth, your presence during the holidays is a gift in itself.  Think back on the gifts that have mattered most to you. Chances are they weren’t store-bought gifts, but rather homemade gifts such as DIY snow globes, knitted scarves, and chocolate chip cookies. As the old adage goes, “It’s the thought that counts.”

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If you liked this article, be sure to check out our Lesson on Budgeting Basics. Additionally, you could read our previously published article on How to Manage Your Spending Habits.

About the Author

Danielle Bautista

Danielle is a native of Southern California and a recent graduate from the University of Maine, where she braved the frigid winters—a feat in and of itself—and earned her Bachelor's degree in International Affairs. She has a passion for working with non-profit organizations and serving populations in underprivileged communities. When Danielle isn't writing NGPF blog posts, spearheading various outreach projects, or managing contests and flash surveys, you can find her doing some sort of outdoor activity, learning a new hobby, or cracking what she thinks are witty puns!