WalletHub recently posted an article featuring Professor of Marketing Nina Mazar on managing holiday budgets. Nina provided her take on the influencers of overspending and tips on how to curb shopping habits.
“One key to not overspending is to make a budget. We tend to use up the money that we mentally allocate to certain accounts or expense categories, and we tend to only use it for the purpose it was assigned to. If I have $5 left in my holiday gift account, I will likely not spend it on a coffee.”
This article asked a panel of experts their opinions on this topic as well. Read the full article here.