The
holidays are fast upon us and if you are like me, the gift of giving is far
greater than receiving. However, in
today’s economy households have less to splurge with. With that said, I am offering a few tips to
help avoid this year’s holiday debt hangover.
1. Create A Budget – I know Christmas
and Thanksgiving holidays are around the corner but its not too late create a
budget for who and what you are going to spend.
My family is not very large so I make sure I buy specifically for the
kids and if the budget permits I buy for the adults.
2. Keep Your
Priorities in Order
- Although you are in the spirit of giving remember, there is life after the
holidays.
3. Know Your Vendor - Whatever the
deal, whatever the temptation, don’t buy from anyone you don’t trust. Make sure you check out the return policy.
4. Debit vs. Credit
vs. Cash
– By all means use debit cards and cash above credit. If you must use credit make sure you can pay
it off by the next due date.
5. Black Friday and
Cyber Monday
– Make sure you are really getting a
deal. I always go in a few days before
and see the non sale price to make sure I’m getting a deal.
6. Create a
Shopping List
– Know what you are going into the store for.
Going in the stores all willy nilly will eat up you budget quickly.
7. Large Families – If you have a
large family and your budget can’t be adjusted suggest having a grab bag.
8. Look For
Alternatives
– Some people on your list may appreciate a homemade gift (photo in a nice
frame, crocheted shawl, free babysitting for a weekend, homemade jams, etc.) in
place of a purchased gift.
9. Free Gift
Wrapping
– Take advantage where this is offered. Saves on buying wrapping paper and your time.
10. Save, Save, Save – Start a
monthly savings plan for 2013. Choose an
amount to set aside each month so you can pay for everything in cash.
Now,
Let’s Get Inspired!
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