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Tips For A Debt Free Holiday Season
Posted on December 2nd, 2011 By: admin
The holiday season is notorious for getting people into debt, or at least that’s what everyone likes to say, but there are ways to stay debt free. Questionable budgeting choices in the name of holiday spirit were not a good idea in years past and are an even worse idea given the current state of things.
Stay Debt Free
Some of the tips that follow can be used this year and others will be easier to put into practice in years to come. You know the drill. You can have a happy holiday season without going into debt. You just have to know how to stay debt free.
Shop All Year Long
Holiday Season Shopping
This is often thought to be the territory of the one perfect friend you have who makes lists for everything and is never without the right hostess gift. You know that one person who has all their shopping completed months ahead of time who makes you reconsider your time-honored day before the holiday shopping spree. But this method can be you too.
If you plan ahead and start making gift purchases throughout the year then you will not only have your holiday shopping done early but you can save money too. You can seek out sales when they happen and capitalize on these opportunities. This holiday shopping technique also allows you to spread the cost of holiday shopping out over the entire year so that it will not be as much of a blow to your finances all at once.
Create A Special Holiday Budget
A holiday budget needs to be precise. You need to figure out how much you have to spend and then adhere to your budget. The holiday spirit should be shared through words and actions but not through spending too much on gifts.
While you are making up your holiday budget, don’t forget all the other expenses of the holiday season. If you plan to throw any holiday parties then factor the cost of those in. If you will be travelling then add the cost of your travel plans to this holiday budget.
Don’t forget your regular bills. You know that heating bills and electric bills go up around this time of year for many so factor those costs in. If your grocery bills start creeping up then plan ways to keep those costs down or factor those figures in as well. All this planning is what it takes to have a holiday season with no need to worry about your finances while it is happening or after it ends.
Organize Gift Exchanges
Take the initiative. Anytime you give gifts, suggest doing gift exchanges where each person only buys a gift for one other person. You are not the only one attempting to avoid massive holiday bills. When you suggest gift exchanges then you will be met with looks of relief because everyone is trying to figure out how to make this holiday season just as joyful as the ones before without adding to the already uncertain financial situation that so many find themselves in.
These tips for a debt free holiday season suggest that you plan ahead to make your season one full of joy and not ridden with stress. This is a time for everyone to be happy. Don’t think that you have to sacrifice your financial well being to make people happy. The holiday season can do that all on its own.