Holiday Spending: Create a budget, ways to save - WAOW - Newsline 9, Wausau News, Weather, Sports

Holiday Spending: Create a budget, ways to save

 By Patrick Manning - bio | email | Twitter | Facebook

WAUSAU (WAOW) -- The holidays are just around the corner, and retailers are calling this one of the first big shopping weekends. The Better Business Bureau says making a budget now is a smart way to protect you from shock later. 

"Last year I went overboard. Last year was a little too much. This year I would like to keep it a little more normal," says holiday shopper Terri Marnholtz.

 According to a study by Consumer Reports, last year shoppers ended up spending close to 20% more than they had planned.

Experts say creating a budget, and sticking to it, is the best way to protect yourself from overspending.

The Wisconsin Better Business Bureau came out with some tips to help shoppers keep holiday spending down.

1. Consider Your Income: Have an idea of how much money you have coming in.

2. Add up your regular monthly expenses.

3. Estimate extra holiday expenses, like how many gifts you plan on buying.

 "Well our family is growing. We have a baby that is due right before Christmas. And so we have lot of the usual stuff to buy for the new baby. And we have our daughter, our two year old daughter. And she's no stranger to the toy aisle," says Chris Wolf, who spent Saturday afternoon shopping with his family.

 And don't forget about extra expenses, like whether or not you plan on giving to a charity. 

"Well we bring a lot of things to The Neighbors Place," says 8-year-old Mara Stahl.

 And remember travel, entertaining, or decorations.

4.  Revisit your budget along the way. Are staying in it or are there ways for you to cut back?

 "I think people have become more thrifty; they've learned how to shop for a deal and that includes getting out early and checking prices," adds Wolf.

 5.  Reward yourself, keep a little on the side for you if you stay in budget.

For spending tips: Wisconsin Better Business Bureau

Online Reporter: Patrick Manning





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