The Gift of Preparation
Even though the current holiday season hasn’t arrived, you may already be dreading the fact that you’ll spend too much money and that it will be placed on credit cards. Many families will be paying off their Christmas spending throughout the year and possibly into the next holiday buying season, which will actually end up costing them more than had they paid for the gifts with cash.
It's Not Too Late to Prepare a Holiday Spending Budget
How can you avoid being a holiday spending statistic? Start with deciding how much you can afford to spend, what you intend to buy (or have still to purchase), and how you intend to pay for it.
Make a list of everyone you would like to give a gift to. Of course there will be your immediate family, but what about your children’s teachers? Do you plan to give a gift to your mail carrier? What about your hairdresser? Will they receive a gift, too?
Write down everyone you can think of for whom you may be required to guy a gift and then decide now how much you will spend on each person. The total will give you a good idea of how much money you’ll be spending on gifts.
Next decide on other things you’ll need to buy, such as wrapping paper, Christmas cards, postage to mail the cards, inside and outside decorations, including the tree, and any new clothing you expect to buy. Will you travel during the holidays? If so, include those anticipated amounts in your list. Do you host the Christmas meal or a Christmas party? Those items would be included on your expense list, too.
Take a good hard look at the list you’ve created and the estimated amounts you think you’ll spend. If the amount is shocking, you may need to either pare down your list – remove some people from your gift list or decide to spend less on each one – or eliminate something else to bring your spending down to a reasonable amount.
Most importantly, once you have determined what your spending budget is for the holidays, do your utmost to avoid going over that amount. If at all possible, you would like to remain under budget rather than over it.
Avoid using a credit card to pay for Christmas purchases, unless you have the well-established discipline of paying your credit card off in full before the due date. Instead use cash or a debit card. This will help you avoid paying high interest rates for Christmas purchases long after the season has passed.
PLR
It's Not Too Late to Prepare a Holiday Spending Budget
How can you avoid being a holiday spending statistic? Start with deciding how much you can afford to spend, what you intend to buy (or have still to purchase), and how you intend to pay for it.
Make a list of everyone you would like to give a gift to. Of course there will be your immediate family, but what about your children’s teachers? Do you plan to give a gift to your mail carrier? What about your hairdresser? Will they receive a gift, too?
Write down everyone you can think of for whom you may be required to guy a gift and then decide now how much you will spend on each person. The total will give you a good idea of how much money you’ll be spending on gifts.
Next decide on other things you’ll need to buy, such as wrapping paper, Christmas cards, postage to mail the cards, inside and outside decorations, including the tree, and any new clothing you expect to buy. Will you travel during the holidays? If so, include those anticipated amounts in your list. Do you host the Christmas meal or a Christmas party? Those items would be included on your expense list, too.
Take a good hard look at the list you’ve created and the estimated amounts you think you’ll spend. If the amount is shocking, you may need to either pare down your list – remove some people from your gift list or decide to spend less on each one – or eliminate something else to bring your spending down to a reasonable amount.
Most importantly, once you have determined what your spending budget is for the holidays, do your utmost to avoid going over that amount. If at all possible, you would like to remain under budget rather than over it.
Avoid using a credit card to pay for Christmas purchases, unless you have the well-established discipline of paying your credit card off in full before the due date. Instead use cash or a debit card. This will help you avoid paying high interest rates for Christmas purchases long after the season has passed.
PLR
Gift Ideas for Ladies
Gift Ideas for Men
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