It sounds like you already know how much your limit should be, now it's just a matter of sticking to that limit. Although it's a matter of self-discipline, it sounds like you haven't yet experienced the consequences of spending too much. Experiencing a situation where you can't buy the things you actually need might be a lesson that helps you maintain your spending limits. That's a "rock bottom" situation. Hopefully it doesn't have to get to that point.
Here are some ideas to help you reign in your spending before you get there. (Side note: I really, really hope that this over-spending isn't being done on a credit card on which you're carrying a balance. That would mean you're paying interest on those unnecessary purchases as well.)
Something you can do to help is to set goals for yourself and your family. If you have a goal in mind (a vacation, a car, etc...) then when you think about overspending, you can remember to think about the goal. Because you're heading toward a specific thing, it makes it easier to delay the other minor pleasures now.
Another thing you can try is doing a cash-only budget. You get your money in bills and don't even carry debit or credit cards with you. Because you only have so much money to spend, you won't be able to go over. So when you're doing your Christmas shopping, take only the amount you have budgeted for gifts, and when you're out, you're done.
To help you make sure everyone gets a present, before you go shopping, make a list of the items you want to get for each person. You should be able to do research online to get the approximate prices of items, so you'll know before you go. Take only the money in your budget and stick to the list.
It can be difficult to say no to buying more gifts, especially when it's expected, but you're the one who is responsible for your finances, not your kids and not your family. If you can't afford to buy gifts, say that you're not buying gifts and then stick to that. It likely won't be easy at first, but once you start saving money and getting out of debt (if you're there) the freedom will be worth it.
I think that one way to avoid overspending for Christmas gifts is having a list and stick with it. It is like having a grocery list in which you will just buy what is listed on it.
When we go shopping we tend to see lots of items and there could really be some that we feel like buying, for someone or for ourselves. If you are in a budget, just buy gifts for those who are in your list and buy the gifts that you think they will like that are not too expensive.
You can also save when buying on sale items. Buying early can also save you some money and hassle as prices usually rise a bit if not much during the Christmas month and there are lots of shoppers already.
Christmas, the most wonderful time of the year is days away.
When we talk about Christmas, it is the time when people are busy preparing for parties and buying gifts. Who would not? It is Christ's birthday. We even buy gifts and have parties during someone else's birthday. How much more when its our Savior's?
We can't deny the fact that during Christmas, we tend to overspend. Our reason, Christmas bitaw. Kausa ra sa usa ka tuig. Meaning, Christmas comes only once a year so there is no harm for overspending. However, due to the soaring of the prices of commodities, it is needed that we think this over.
To answer the question, for me, to avoid spending on Christmas one must make a list on what to buy and be faithful with it.
Also, buy only what is really necessary. When we go to malls, we can see very many things that is on sale. Before looking at it ask yourself, do I really need it?
I remember what our instructor told us back in college. His wife is very fond of buying things that are not on sale even if it is not needed. His wife would say that they were able to save some money to which our instructor replied, mas nakatipid unta ta kung wala ka nagpalit. Unsaon man na nato nga wala man nay gamit? (Actually we could have saved more money if you did not buy it. What are we going to do with that. It has no use for us.)
How many of us buys things when it is on sale even if it is not needed?
That's not a danger that I'm facing, never have. I like to think first, figure out what I want and then go shopping. I'm not an emotional shopper, don't buy products just because those are on sale or because I think I can't live without them.
Christmas is nice, it's nice to give gifts for your loved ones but that shouldn't be the primary focus. Gifts should be symbolic and not expensive. Some people are using up all their credit just to buy gifts and trips to exotic destinations and then they work hard all year to cover the expenses. This is not how it should be.
How can you avoid overspending? Make a plan, think about what you want to buy for your family and friends, make a budget and respect it.
It's simple, I understand you are afraid of spending excess and being left with nothing after the celebration is over. Spending little or nothing at all is possible. First
1.dont attend parties or shows that require you to spend
2.whatever celebration you have to do, do it at home
3.dont carry about much money around , you may just be tempted to spend
4.Dont take the celebration as a day where you have to jubilant with drinks and meal but appreciate on religious base.
This question just made me realize how close Christmas is - super close.
Christmas is here already and festive seasons are characterised with merriments which requires lot of spending. If adequate measures are not taken one may likely finish and reck one's account during this period.
It is important to have a plan if you know you are probably going to overspend. Take time to plan on what you want to buy, the trips you want to go and so on as well as the expenses too. Discipline yourself not to spend beyond your Budget.
There's a secret that is hidden to many people and it's use cash to complete your transactions rather than credit card. It is easy to get carried away and spend more using the credit card.
Taking advantage of sales by stores is another way to reduce spending during this period. Resturants, clothes and shoe stores etc tend to slash their prices during festive seasons. It's cheaper to get gifts for more people, thereby saving costs.
Complement of the season.
It is very simple by sticking to a budget. If you just go shopping without a budget you will overspend.
Have a list of who you have to purchase presents for and put a budget against each person. By doing this you may save on some freeing a slightly bigger budget on others, but you will not overspend.
I have stuck to this for years and has worked every Christmas.
I am afraid that only a strict budget will help. Good luck.