With just under two weeks of classes left, finals are approaching quickly… and so is Christmas break! For many students, the break is a time to relax, visit family and friends, and enjoy the holidays. While many consider Christmas season a critical break in their school year, it can also be a time when students overspend greatly. To reduce putting yourself in debt over the break, try to follow some of the tips below.
Research Large Purchases: December is a great month for large purchases such as appliances, TVs, and even cars. Before making such a significant purchase, however, take the time to research different brands, models, and styles of the items you want. This way, when it comes time to buy that large ticket item, you know you are getting the most bang for your buck.
Take Advantage of Holiday Discounts: Starting with Black Friday and continuing through the month of December, many retailers offer enticing discounts and sales on almost all of their items. Take advantage of these discounts by making your Christmas gift purchases during this time. Also consider purchasing items for the next holiday season during this time– you can find Christmas trees and decorations at steep discounts in the end of December and early January.
Just Because it’s on Sale Doesn’t Mean You Need It: With Black Friday sales kicking off the holiday discount season, it is very easy to make impulse purchases. To avoid falling into this trap, make a list of items you are looking for before you head out to shop. This way, you have a clear focus on what you are looking for and can minimize the random, impulse purchases just because “they are a good deal”.
Save Money over the Break: For many students, Christmas break is not only a time to relax, but is also a time to make some extra cash. Whether you already have a steady job, or are just looking for something temporary, the break can offer a chance to build back up the savings account you may have dug into during the fall semester.