Holiday Budget Busters
The holiday season is a time for family, friends and fun activities. While we all love to get caught up in the spirit of the season one way we, all too often, also get caught up in is overspending. We all want to make the season special for our loved ones, but we don’t have to dig deeper into debt to do so. Here are some common holiday budget busters to avoid this holiday season to stay within your budget.
Holiday Budget Busters
No Plan
When shopping for friends and family people often have no idea what they are looking for until they are in the store. Shopping without a list is like driving with your eyes closed! You are guaranteed to hit some bumps in the road like overspending. Before stepping foot into the stores figure out how much you can afford to spend, then make a list of what you want to buy for each person. Stick to only the list and you are sure to keep within your budget.
No Restraint
It seems with each passing year people are trying to one-up each other in the gift department. From too expensive to simply too many to count, gifts shouldn’t be a competition. No child needs 10 holiday gifts and your mother-in-law doesn’t need an expensive piece of jewelry. Buy from the heart and limit your gifts to realistic quantity and cost.
No Cash
Credit cards, don’t use them! It is so tempting to think “I’ll use my credit card today and pay it off next month.” The problem is that the majority of us don’t pay it off next month. Instead, that holiday shopping balance rolls right into 2017 bringing with it unnecessary interest charges for the foreseeable future. Why start of The New Year deeper into debt, when you can use cash? Skip your usual luxuries like Starbucks and Friday night trips to the movie theater, and use that cash on gifts instead. Your 2017 financial plan will thank you for it.
Categorized in: Debt