Every year I promise myself that I’ll have all my holiday shopping done well before the last minute, but somehow that never seems to happen. Of course, that’s when the temptation to overspend kicks in. I’m stressed, tired, in a rush and next thing you know, I am buying more gifts than I need to, to make up for my lack of creativity. Fortunately I have a plan to make sure that doesn’t happen anymore.

My secret? I’ve already saved up what I’m willing to spend on gifts and holiday “merry-making” and I use cash for all my purchases. When the cash is gone – that’s it, that’s all.

Looks like I’m not the only one who has a system to keep themselves from the  “splurge-financial hangover” syndrome. Thought you’d enjoy this article from Chaya Cooperberg’s Globe & Mail column –
How much to Spend This Holiday Season

If it’s already too late for this year, then while Christmas spending is fresh in your mind, start a plan for the 2010 holiday season.

2010 Holiday Saving Plan
Add up all monies you spent this holiday season then ask yourself – “is this a reasonable amount to spend given my goals and my income?”  If you figure you want to spend no more that $600 over the holidays next year, then set up a Holiday Savings account, and starting in January, have $50 automatically transferred into this account monthly.

I still need to figure out how to get organized for the holidays earlier – but at least I know that my procrastination won’t get me into financial trouble anymore! – Sheila Walkington