Christmas spending can leave you with a financial hangover! Since Black Friday is just over a week and a half away, I am giving you three tips to keep in mind. Many people struggle with budgeting this time of year and tend to go overboard feeling the need to give to everyone. Keep your goals in mind and your cash flow in check by following Santa’s age-old advice of making a list and checking it twice!
Don’t overspend on office gag gifts, Secret Santa, and don’t feel compelled to buy gifts for everyone in your circle. Definitely heed Santa’s advice about that list – check it twice!
Don’t feel pressured to give beyond your means. Generosity is amazing and should be encouraged. However, you should know in advance to which charities you want to send a monetary donation.
Do set a spending amount in advance. The amount you plan to spend and donate this holiday season should be already accounted for in your annual budget.
Year-end giving and spending really begins in January, so December shouldn’t come as a surprise since it happens every year. Start in January saving monthly for the additional expenditures you have this time of year. Make those charity donations monthly or quarterly; after all, they need the money year around, not just in December.
Being proactive and setting aside smaller cash amounts monthly can help your budget and be a reminder to carry the good cheer of the holidays with you daily and not just at year-end. It can also keep you from having a financial hangover after the holidays.
If you need budgeting help, or a debt reduction plan, call me! As an independent Certified Financial Planner™, I can help you make decisions and layout a plan for year-end giving and holiday spending. Contact me and let’s get started! #talktometuesday #education #Hireaplanner #holidayspending #income #debt #savings #CFPPro #moneyhabits #giving #charity