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5 Expert Tips for Your End-of-Year Spending

Frank B. Williams of LCNB Wealth Management, shares his advice on fiscal responsibility during the holidays.

Article by Frank B. Williams

Photography by Drawing by Roxann Patrick

Originally published in Centerville Lifestyle

  1. Get Organized. Making a list of who you will be giving gifts out to along with the amount you plan to spend on each person is a great way to track your spending, as well as stay within budget. Google Sheets is a free, online spreadsheet tool where you can even share live updates with your spouse or others in your family to avoid duplicating purchases!

  2. Be Creative. For large families or groups of friends, participating in Secret Santa (selecting one person in advance to give gifts to) can be great fun! When you only have one person to buy for, you can get more unique, thoughtful and personalized gifts.

  3. Consider Costs. If you’re working within a total holiday spending budget, don’t forget to review and factor in the often-overlooked expenses that go beyond gift-giving like travel, food, drinks, decorations, entertainment, etc.

  4. Eliminate urges. Attempt earnestly and persistently to eliminate impulse holiday shopping and overspending by purchasing a prepaid store gift card—for yourself! Set the amount that you will spend at that one store and stop when you’ve reached the limit.

  5. Set Expectations. Be realistic with what you can afford. Friends and family will understand. Sometimes the smallest gifts can make the biggest impact. Your overall goal should be to have a happy, healthy holiday with those you love. Have a fun season!