(Ed. Note) It’s no secret that the unemployed like to or have to save money where they can.  As such an important component of our lifestyle it was only right to team up with FrugalNYC, a premier resource for frugal city living, as we present Frugal Fridays! Enjoy.

I hope you have had a great Thanksgiving holiday and feast!  Always think about the things you are thankful for.  For me, the top two are health and family.  Thanksgiving, and especially “Black Friday” starts the holiday shopping season.  Ads have been distributed and promotions have been sent to every one of you to pull you into stores.

If you are still unemployed, no doubt you will cut back on your holiday spending this year.  Here are some tips on how to manage your holiday spending that I hope you find useful.

Buy what you can afford

This is very basic and should be common sense.  Though with credit cards things tend to get out of hand.  The best way to manage your holiday spending is to write down the amount that you plan on spending and stick to it.  Writing down the amount helps to reinforce this limit in your mind.  So go ahead and write down the total spending money you plan on right now.

Use Credit cards only if you can pay the same amount in cash

Credit cards can be very useful and helpful, if used properly.  However, most credit cards are designed to make money from our bad financial habits.  The best way to break the bad habits are to create new good habits.  The easiest way is to ask yourself if you would purchase an item if you had to pay cash right now.

Buy less junk

Many gifts get returned or just thrown in the closet.  Instead of buying something that your family, friend or aquaintance won’t like, take the money and take them to dinner.  Take the time and get to know them better and get them a gift they do want on their next birthday.

Sales are not always the best deals

Before buying something, ask yourself if it is something you or the person receiving the gift wants.  I’ve done it before and sometimes still do it, I buy something I don’t need because it was “on sale”.  Most sales are not “sales”.  They are just gimmicks to get you into the store and buy stuff you don’t need or want.  Sales are only “sales” when it is something you are already shopping for and you find it at a better price.  Keep this in mind anytime you buy an item.  This will help you buy less “junk”, as mentioned above.

I’m sure you have many other ideas and methods of managing your holiday spending this year.  Please share your thoughts and ideas in the comments.  Happy shopping!

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