It’s the most wonderful time of year!
At least it should be. But too often, this holiday season is filled with overscheduling and overspending instead making memories with loved ones. Here are some helpful tips to keep your finances in check and keep your holidays merry and bright!
- Set a holiday budget and stick to it! It’s easy to overspend when you’re in that holly, jolly spirit. Having a hard and fast budget can help you avoid that. Determine what you have to spend (make sure to include things like wrapping paper and holiday cards) and make up your mind that once the green is gone, you’re done.
- Make a list. Nothing keeps you focused like a list. After you set a budget, make a gift list and check it twice. Be flexible in cutting the list to accommodate your budget if needed.
- Do your homework. There’s nothing worse than buying a gift at full price only to see that another retailer is selling it cheaper. So, before you hit the stores, do your homework and compare prices for the gifts you know you want to buy. From newspaper ads to online shopping that offers free shipping and other holiday deals, do your research and create a plan of attack to help your money go further.
- Get a head start. It’s much easier to make smart choices with your money when you’re not waiting until the last minute to shop. Procrastinating only promotes rushed shopping, overspending, and buyer’s remorse as the guilt of going over budget sets in. So, get a head start and begin your holiday shopping early enough to take your time and make smart choices.
- Beware of buying everything on credit. Avoid buying too many gifts with your credit card; rather, spend the money you already have so that you avoid all the stress that comes with pesky holiday bills stacked with interest. No one wants to be paying off a $100 gift 10 years from now.
- Give the gift that keeps on giving. This season why not consider opening an RF Personal Pension Plan (RFPPP) account for yourself or a loved one? An RFPPP is a great investment that will provide peace of mind and financial security well into the future.
The bottom line is don’t let debt become the Scrooge that steals the fun out of your holiday season. Spend time with your friends and family and base your gift buying on sentiment rather than a dollar value.
If you can follow these tips, when your holiday bank statements arrive in the New Year, you’ll find yourself singing “Joy to the World” all over again!
