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Are you feeling strapped for cash this holiday season? You’re not alone—2020 has been hard on everyone’s wallets. Make sure you can still give your family and friends a memorable holiday with these budgeting tips.

  • Consider everything you need to pay for: Holiday spending encompasses much more than just the gifts. Make a list of all the extra expenses you will encounter this year, including greeting cards, party decorations, food, plane tickets, gas, holiday-related apparel, charitable contributions, and more.
  • Decide on a budget: The average American family spends over $1,000 on holiday items. Your budget may vary widely depending on the number of people you shop for and whether you host events at your home or travel for the holidays.
  • Cut back on extras: Ideally, you will have some extra funds set aside to cover holiday expenses. If you find that the costs will likely exceed your savings, decrease spending in other areas. This may include not eating out or buying new clothes until after the holidays are over.
  • Set expectations: If family members are wondering how much to spend on each other, agree upon a “no more than” amount. Now is also the time to discuss economically feasible gift-giving tactics, such as drawing names, having a white elephant exchange, or skipping gifts altogether. If presents to children will be minimal, advise them now to bring their expectations in line with your budget.
  • Start early and look for deals: Who says holiday shopping doesn’t start until Black Friday? If you run across the perfect gift for your niece in July, buy it and tuck it away, making a note to yourself to ensure you don’t forget about it. This way, you’ll stagger the gift-buying expenses throughout the year and greatly reduce your stress level come December.
  • Give of your time rather than your money: When funds are tight, consider gifting a free night of babysitting to your sister, a tasty home-cooked meal to your widowed aunt, or a visit from you to your parents who live out-of-state. Sometimes, gifts like these are far more appreciated than anything money can buy.
  • Consider a car title loan: You could put your holiday purchases on a credit card, but this could create anxiety about how you’ll pay it off in January. A better option is to get a Texas car title loan. This gives you a little extra spending money by borrowing cash against the value of your car.

At VIP Title Loans, we make it easy to stretch your holiday budget a bit further. We offer the lowest APR in the industry with extended terms of up to 12 months, so you don’t have to pay your loan back right away. Don’t wait until holiday spending elevates your stress level—stop by one of our convenient Texas locations to find out more about taking out a car title loan today. Contact us online or call us at 214-819-9491 or 682-325-4202 to learn more.

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