Christmas is one of my favorite times of the year. I love decorating, baking, and shopping for the perfect gifts for my friends and family. With the economy in a shambles, we the consumer, are eager to swipe the credit cards and opt to pay for our amazingly wonderful purchases later. When the statement comes in the mail the following month we feel the ulcers begin to form, and that dreaded cloud of impending doom surface...Today's tip is one that can be used not only during the holidays, but in your everyday life.
Tip #56: Cash It!!
I am not an ace when it comes to my finances so I have been reading a book called The Total Money Makeover by Dave Ramsey. This guy is the ultimate financial fitness coach! I'm starting my new year's resolution early by applying some of his techniques for my Christmas Shopping...
When you make a list of the people you are buying gifts for write out the names of your loved ones on the front of an envelope. Now set a gift budget, then break that down for each person on the list, and write the amount next to their name. Once you have done that put the entire amount of cash you plan to spend on all your gifts in the envelope. Once you've spent all the cash, you are done shopping.
Leave the credit and debit cards at home...DO NOT USE THEM FOR GIFTS!!!
You will find you become exceedingly conservative with your spending, and this may actually help you tap into your creative side. I am making half of my gifts this year. Not only is it less expensive, but it's coming from the heart. Isn't that part of what this amazing holiday is about?
Let me know how this works out for you. I would love to hear all the different creative ideas!
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