Are you Spending More on the Holidays?
I don’t know about you, but over the years, I’ve noticed that I’m continually spending more on calendar events like Mother’s Day, Easter, Christmas, and more. Recently, SwiftMoney released an interesting fact sheet about how much we’re all spending on the holidays.
SwiftMoney payday loans for bad credit are a popular option if you need cash quickly (especially if you’ve forgotten about a major holiday around the corner). But you should also take a look at how much you’re spending, and if you’re spending more due to peer pressure.
The #OccasionalSpending fact sheet found that 68% of those surveyed agreed that they feel societal pressure to spend more on calendar events than they would without this pressure. Women are most likely to feel this pressure, and more than half of the women surveyed said that they ‘Always’ or ‘Occasionally’ save money for these gifts, compared to 63% of men who said they ‘Rarely’ or ‘Never’ do the same.
For Mother’s and Father’s Day, 40% of people are still buying flowers. I don’t know about you, but the last time I bought flowers I was shocked at the price. For a small bunch of flowers that are destined to wilt within a few days, you’re looking at a nice chunk of change. Personally, I prefer a voucher or something that the person can use again.
But let’s face it, vouchers don’t look quite the same as a big bunch of flowers when it’s time to post on Instagram. I personally think that social media has a lot to answer for when it comes to our holiday spending. Even for parents, it’s natural to want to compete with little Jonny’s parents who got him a bike AND a trampoline and have plastered the photos all over Facebook.
The problem is that many of us are going into debt to pay for these holidays. Unfortunately, even though they occur at the same time each year, it’s easy to forget that they’re coming up, and that means a sudden shock to the bank account when you’re unprepared and yet need to spend beyond your means.
One of the best ways to get around this is to make a budget for each holiday. Think about who you’re buying for, and make a list of a few things they may like. Do some research so you’ll know how much you need to spend, and then save a few dollars a week so that the money is in your bank account and ready to go when the holiday comes around.
Are you spending more on the holidays? Or have you managed to keep your spending around the same? Let me know what you think, and if you have any tips for keeping your spending under control, especially during Christmas. Check out this great infographic by Swiftmoney