Top tips to keep holiday spending from spiraling out of control

Have you reached your credit limit this Christmas?

Chris Meaden, a hypnotherapist with expertise in trauma and anxiety, shared signs that your holiday shopping may have become “problematic” — and how to get it under control.

The smart shrink told the Daily Mail that “spending beyond your means” and maxing out your cards are surefire ways to know your spending is “out of control”.

Meaden also noted that your shopping habits could be a problem “if you feel compelled to buy to relieve feelings of stress, anxiety, sadness or even grief” — or “feel guilty immediately after shopping.”

To help struggling shoppers, he revealed five tips to get shopping back under control.

“Budgeting is key to conscious Christmas spending as it will give you clarity on what you can realistically afford,” he said.

“This will prevent unplanned purchases and allows you to prioritize your money.”

He advised people to set strict purchase goals to help them stay focused.

“For example, if your goal is to avoid carrying any Christmas debt into the new year, that goal can guide your decisions and prevent impulse buying,” he said.

Shoppers should also be mindful of why they are spending and what they are buying.

“Take ownership of where you spend your money and what you buy,” he said.

“Don’t sacrifice your financial stability or emotional health for the sake of Christmas.”

Meaden noted that “dopamine and serotonin play a big role when you shop online or in a store.”

“Are a few minutes of feeling great and buzzing with a purchase worth days, months or even years of overspending guilt?”

When you’re cautious about your purchases, try setting up an “alarm bell” in your mind “‘every time you feel the need to buy something'” and check in with yourself—and your budget.

He also noted that managing your stress levels will likely help you manage your budget.

“You’ll make better choices and better decisions when you’re not stressed, so get into the habit of daily journaling or meditation or breathing techniques to keep your nervous system balanced and calm,” said he.

Meaden also suggests “filtering” ads to help ease the temptation.

But if you overspend and end up with a credit bill as long as Santa’s bad and good list, don’t be too hard on yourself.

“Learn from her – why did you overspend? Was it emotional or poor planning? Set up a recovery plan and adjust your budget to account for it. Remember, one misstep does not define your financial habits,” Meaden advised.

Five tips to help you keep your holiday spending under control:

1. Set a budget and strict goals
2. Take ownership of your purchases
3. Create an alarm for your desire to buy something
4. Manage your stress levels
5. Filter ads