Changing the Day of Christmas?

Okay, so the day of Christmas is not really changing. And it never will. So if Christmas lands on December 25th every year, why does it constantly sneak up on our finances? If you are the type who likes to buy presents for every friend and family member (that is very noble of you), and year after year find yourself in debt because of it; something has to give!

Make Christmas different for you! Plan for it financially and you’ll enjoy the season much more.

Simple, 5-Step Action Plan:

1. Write down the name of every family member and friend for whom you plan to buy a gift
2. Figure out how much you are going to budget for all Christmas gifts
3. Allocate your total budgeted amount among each recipient & write it down
4. Shop for gifts with budget allocation in hand
5. Spend no more than the budgeted amount on each recipient…and don’t buy extra stuff for yourself that you haven’t accounted for in your “allowance”

The key is having a proactive plan. If you don’t get impulsive & reactive during your holiday shopping, your January credit card bills won’t break you!

Extra Tip: Start earlier next year. If your budget amount for #2 above is $600, it is much easier to save $50 each month of the year, than it is to come up with $600 in December.