Posted by André Nosalsky :: November 13, 2007 @ 9:59 am

Here are six more tips to insure that your Holiday spending doesn’t break the bank. The first six tips can be found here.

1. Watch the small expenses – When setting a budget for Holiday spending, make sure to include small expenses, such as postage, shipping, wrapping paper, greetings cards, etc.

2. Avoid spending future money – Don’t plan on paying off your holiday debt by hoping for a tax return or a wage increase. This is money that might never appear and you might be stuck with paying for debt for longer periods of time. If you know you have some big-ticket items you’re buying, get a P2P loan through Lending Club to cover these expenses.

3. Give your time – Would your kids appreciate two fishing trip “coupons” more than just buying them a $75 video game? Or would giving your friend a “3 lunches on me” coupon make a better gift? There are many different ways that you can give of your time and it would be a more meaningful and cost effective gift.

4. Get the kids involved – If you have kids, have them design the cards that you will send out to close family and friends. This will get them excited in a time that is often stressful for the parents, and it will make the cards stand out from regular store-bought cards. It’s a fun family activity that will also save you money.

5. Don’t open up a new card in every store to save an extra 10% – Open up a new card in every store and you will end up spending more than you ever budgeted for. On top of that, you might end up carrying the balance for a long time and paying high interest rates on balances.

6. Don’t give gift cards – While gift cards may seem helpful by saving you time and ensuring the recipients get what they want, you may want to think twice about giving them. The cards might go unused or get lost. Merchants might also tack on hidden costs and fees.

Do you have any good tips to share?