Don't Let the Holidays Get the Best of Your Finances

It is the most wonderful time of the year … to get in debt if you are not careful. Yes, we want to give our families a holiday to remember. But, we do not have to break the budget to do so!

Make a Budget
Have a plan in place when it comes to your finances during the holidays. Write down how much you plan on spending and on what you will spend it. Then stick to it! Keep track of your purchases, so you know where every dollar is going. If you budget $100 per child, don’t end up spending $200 per child. If you budget $50 for decorations, don’t spend $75. Those overspending moments will really add up in the end!

Prioritize Your Shopping List “Want” is the word we seem to stick to most when it comes to the holidays—instead of “need.” We all want a lot of things. But, that does not mean we need them. Therefore, prioritize your “wants.” Then, when you go shopping, start from the top, and go down the list as the funds allow. Once the funds are gone, you are done—until next year!

Bring the Cash Leave the cards behind when you go shopping. It is way too easy to “swipe.” Avoid the temptation by locking your cards up and only bringing cash. You won’t be sorry! In fact, you may actually enjoy shopping a lot more knowing you won’t have to spend months after the holiday trying to get your finances back on track—all because you stuck to the budget.

Make memories this holiday season—not debt.