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Suze Orman's 12 rules for holiday shopping on a budget

MoneyWise Logo By Serah Louis of MoneyWise | Slide 2 of 13: “In January we start saving money, getting out of credit card debt, funding our retirement accounts, and we’re doing wonderful,” Orman said on CNBC. “Then, every single year like clockwork, starting in November, all of you fall into this trap that says, ‘I have to buy this gift ... I can’t show up at this party and not have something for everybody,'" she says. To manage your holiday shopping budget, Orman says decide how much you can afford to spend. Divide that by the number of people you plan to shop for, to determine the maximum you can spend per person. Then, ask the people on your list to write down five items in your price range. If you can't stand budgeting, you can find apps that will do your budgeting for you.

1. Make an unbreakable budget

“In January we start saving money, getting out of credit card debt, funding our retirement accounts, and we’re doing wonderful,” Orman said on CNBC.

“Then, every single year like clockwork, starting in November, all of you fall into this trap that says, ‘I have to buy this gift ... I can’t show up at this party and not have something for everybody,'" she says.

To manage your holiday shopping budget, Orman says decide how much you can afford to spend. Divide that by the number of people you plan to shop for, to determine the maximum you can spend per person. Then, ask the people on your list to write down five items in your price range.

If you can't stand budgeting, you can find apps that will do your budgeting for you.

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