The holidays have a tendency of making us spend a little bit too much, especially now that we’re stuck at home and taking refuge in online shopping. If you’ve always tried keeping a set budget for the holiday season but haven’t been successful so far, here are a few tips on how to save yourself from post-holiday spending regret and focus more on: 

1. List down your new year goals early. Seeing your priorities on paper (or your device) will shift your focus away from the (possibly unnecessary) shopping and remind you of what you really need the money for. It basically hits two birds with one stone: saving money, and figuring out your 2021 #lifegoals early.
2. Make creative penalties for overspending. Discourage yourself from shopping by setting a penalty for each purchase. For example, you can pledge to do extra chores for every purchase that went over budget, or set aside an amount double what you purchased and vow that you can’t use it for a year.
3. Do it with a friend. Got friends who are as addicted to shopping as you are? Try resisting non-essential shopping together so that you have someone to police you and talk you out of your whims. You can even turn it into a friendly competition by tallying who spent the least this Christmas.
4. Tuck money away where you can’t touch it. Whether it’s literally keeping cash out of sight or putting your money in some sort of investment plan, setting money aside will healthily force you to make do with less.
5. Try to make gifts instead of buying them. Last but not the least, try to channel the holiday season differently this year by making thoughtful gifts yourself instead of buying them. It can be a baked good made with love, a pre-loved item, or a thoughtful gesture like volunteering or cooking for charitable causes. After all, thoughtfulness is what the season is really all about.

It's all been a little too much this year. Here's to hoping we close it with a few good lessons on how to make every day better. Would you like to connect to a Manulife Advisor for some financial advice? Talk to us