I’m sure you know that impending doom feeling that comes immediately after the holidays. “How am I going to afford my bills?” “How can I get myself out of this debt?” What would be nice is to avoid these feelings altogether by preventing debt from the holidays. We're expected to spend, spend, spend, all through December. Buying Christmas presents, decorations, and a tree can really add up and take a nice chunk of change from our wallets. And at the end of the day, we still have to pay our bills. Doing it all may seem impossible, but it doesn't have to. Here are 3 ways to avoid the debt brought on from the holidays without skipping Christmas altogether.
One of the simplest steps in preventing debt is to stay organized. By having everything written down and in order, you'll have a visual of your spending. Before you start shopping for the holidays, create a spreadsheet and include everything that you're spending money on each month. This includes grocery shopping, coffee runs, going out for dinner, etc. Once you have it all written down you can figure out how much you spend on each per month and see what you can cut. The only way to make room for spending without putting yourself into debt is to spend less on other things. For example, if you go out for coffee each morning before work, this will start to add up throughout the month. Try making coffee at home to save some cash. This will allow room in your budget for your holiday shopping.
With the holiday season begins another year of shopping excitement. Ready to go down to the mall and search for things that will make our loved ones smile? Watch out, though! It can be very easy to overspend when it comes to holiday shopping. But there's a way to prevent this from happening; to prevent the excitement from clouding your judgment and spend responsibly. Make a list. Start by writing down each person that you are buying presents for. Next, create a budget for each person. Decide how much you're going to spend for every gift and total them together to see your total Christmas shopping budget. In doing this, you will have a visual and a limit on how much to spend. Keep your list on you at all times. You can even use the notes app on your phone to ensure that you never forget your list; it'll keep you from overspending.
As mentioned before, bills don't stop for the holidays. We still have expenses that have to be paid, and on time at that. When you get paid each week, try to put some money directly into your savings account. This is money that you'll use to pay your bills. By placing it into your savings account directly you'll prevent yourself from touching this money until it's time to use it. You'll be glad to have that saved up when it comes time for your bills to be paid.
If you find that the stress of spending this holiday is just too much, you can look into a payday loan. This loan will provide you with some quick cash that may help you get out of a bind. Payday loans are an advance on your salary, making them less likely to cause any extra debt. You can pay the loan with your next incoming paycheck. Do a quick google search for payday loans in your area, and start preparing for this holiday season today!