It's been about a week since I have blogged! The holidays get so busy, don't they? Time flies by before you know it. It's that way with money this time of year, too, unfortunately. As you pick up things here and there while you're out, you realize your bank account has dwindled away. Enter credit card spending to get through the gift buying. Lots of people are still paying for their holiday and "catching up" well into the new year. This is definitely not the best way to spend wisely, pay off debt, and live abundantly!
There are a few ways to avoid these holiday pitfalls. First, remember that Christmas comes every year, on the same day. Which means....you guessed it....plan ahead! You have an entire year! Decide early who you will be buying for, and try to keep your eyes open for deals during the months leading up to Christmas. If you budget for a little bit every month, you won't have to spend a huge chunk in December. Or worse, accumulate credit card debt that will haunt you later.
Another way to avoid the holiday spending trap is to set a spending limit. Decide ahead of time how much you are willing to spend on each person on your list, and stick with it.
One final thought is to put it in perspective. Realize that buying gifts isn't really what the day is all about. Consider giving to someone who is really struggling. Or even having your kids join in the giving by receiving fewer gifts and helping a family in need. That is an experience that will last a lot longer than the latest toy.
The most important gift you can really give to your family this year is wisdom in spending. Freedom from debt, peace of mind, and giving to others are invaluable. Consider going against the grain of the consumer culture this year!
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