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How to stay within budget during the holidays

Financially Savvy Latina, Natalie Torres-Haddad, shares how to buy everything on your gift lists without breaking your wallet.

According to Financially Savvy Latina, Natalie Torres-Haddad, Holiday shopping doesn’t have to be stressful if you plan, shop strategically, and use apps to make sure you get the best deals on everything you need this season.

The expert suggests that whether your list includes 10 or 30 people, you can spread the holiday cheer as you work towards your financial goals. “The holiday season is just around the corner. As a Latina with a large family, I know how long (and expensive) Christmas lists can get,” she said.

Torres-Haddad is now using her finance background, not only to her advantage but also to empower the community to take control of their finances and their future by adopting healthy consumer habits. She is also on a mission to close the gap between financial education and the Latinx community; therefore, she shares with HOLA! USA, how we all can stay within budget during the holidays.

Christmas gift bags©Photo by freestocks on Unsplash
Get everything you have on your gift list without breaking your budget.

Financially Savvy Latina’s Natalie Torres-Haddad Tips for Budgeting This Season

These are some of the tips the expert offers to help you get everything you have on your gift list without breaking your budget:

1. Establish a budget: Establish a reasonable budget, starting with the money you have available. Compare it to your lists and work backward from there to stay on budget.

2. Create a list and divide it three times: Put on your Santa Claus hat and create a list of all the people you want to include this holiday season, then divide them into three categories: make, bake and give away. A thoughtful card or homemade pastries are cute and inexpensive tokens of affection for friends and colleagues.

3. Discover holiday discounts: Make sure to use apps that provide access to deals and offer rewards on purchases without being a member. Target Circle is one of them. It‘s free, easy to use, and gives us access to the best deals of the season in one place. This year, Target will offer customers nearly a million more discounts than last year.

4. Involve the children: Take advantage of the fact that the children are at home and you are working from home. Use the time to make crafts that later can be gifted. Grandparents, uncles, and aunts will love the gifts made by your children. You can also recruit children to help you make candy for those on your gift list. That way, they enjoy the spirit of the season, and the process will go a bit faster.

5. Potlucks and Secret Santa: If you have a large family, you know how easy it is to go over budget when shopping for everyone’s gifts. Instead, consider a secret friend gift exchange to stay within your budget while giving meaningful gifts and sharing holiday cheer or a potluck to ensure dinner is ample, and everyone’s wallets remain full.

6. Help your community: You’d be surprised to know that you don’t have to go out of your budget to make an impact. Target Circle members can direct Target donations to local and national nonprofits.

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