This is the holiday season that you will NOT succumb to spending stress. The first step is creating a budget just for the holidays. The next step is a bit harder: sticking to that budget. Why is it so difficult to be sensible about your spending during the holidays? It’s pretty simple actually; when the holidays come to town so does your family, your friends, endless excuses to celebrate and lots of gifts to give. And as it turns out, celebrations and gifts cost money and cause stress. Ergo…we over-spend and then we suffer the consequences in the New Year. And as fun as the holiday festivities may be, the post-holiday cash slump is a real buzzkill.
You need to be honest about what you make, what you hope to spend, what you have spent in the past and what you can do to change those numbers. It starts with creating a budget and a realistic plan that you can stick to. Say it with us now: I WILL NOT GO INTO DEBT THIS YEAR! This year I will spend wisely and I will stay in control of my budget. Here are 15 tips for how to stay cash-flow positive this season.
- Assess your year-round spending.
That way you’ll know what you’re working with, how long it takes you to pay off your bills, how much wiggle room you have to shop and so on.
Read Related: The Spend Mend: 15 Ways to Budget Your Holiday Spending