Listen Now
Sometimes budget busters can be sneaky. We asked our readers for their advice to keep more money in their wallets rather than in the cash registers at stores.
Money Eaters
Buying overpriced Christmas trees. Buy an used artificial tree during the after-Christmas sales. You will be able to use it for years. Meanwhile, look for branches to make your home festive this year.
Giving in to the temptation to impress or please others with gifts. Sometimes the most memorable gifts cost the least. You can bake a batch of cookies or make an ornament that people can have for years.
Not preparing a gift budget list before the buying season begins. Identify who you will be giving gift(s) to and the total amount of money you can allot per person.
Buying things impulsively. Ask yourself: Is this a need or a want? Have I saved for it? Or, wait a day to purchase it, especially for online buying. Then ask yourself the questions again!
Level UP Your Buying Power
If you pay for things using cash, use envelopes to divide your cash by need: individual gifts, utilities, groceries, drug store, etc.
Ask the store manager when they will mark down their products (especially meat) for clearance. Plan to arrive just in time to grab the deals!
Don’t use credit cards. But if you insist, pay off the entire amount monthly. Interest fees add up fast!
Warning: Be wary of tapping your debit card in local bodegas, gas stations, corner stores, etc. Sly owners count on people not checking their accounts. Some owners actually use your card info to buy things for themselves. Plus, they know that EBT and SNAP benefits can take 10-20 business days to research the fraud claim and refund the funds, if ever.
Go to the bank ATM for cash, not the corner store that charge fees for withdrawing cash.
