As you collect gifts for loved ones on your list, you may find yourself increasingly tempted to pick up a few items for yourself. Between sale prices and the jolt of pleasure you receive when you acquire something new, the holiday season can be a perilous time for your budget. It’s also much easier to purchase items for yourself than it is to make thoughtful gift selections for others.
In fact, half of the respondents to Deloitte’s annual holiday survey said they planned to pick up gifts for themselves as they shopped for others, with 65 percent of holiday budgets going toward clothing, home furnishings and social events.
While not all these expenses can be considered self-gifts, they certainly represent a disproportionate amount of money being spent on personal pursuits.
Identifying ways to avoid self-gifting is key to staying on budget and reestablishing the holidays as a season of giving, not getting. Test-drive the following strategies the next time you feel tempted to treat yourself.
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[See: Prepare Your Finances for the Holidays.]
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8 Tips for Avoiding Self-Gifting This Holiday Season originally appeared on usnews.com
