The holidays are quickly approaching, and you may feel increasing pressure to get great gifts for your friends and family. If your budget is already tight, this can be a stressful time of year. The less time you have, the more you may panic and resort to credit cards or high-interest payday loans to try to buy gifts. Taking out more loans and accruing more debt will only add to your stress! Here are a few steps you can take to live within your means this holiday season:
1. Make a list – check it twice. Make a list of people you really want to get gifts for, and prioritize them. Do you really need to spend $50 on a gift for your child’s teacher or your aunt you see once a year?
2. Look at your budget carefully this month. How much can you afford to spend on gifts this year? Where can you make cuts to allow for more money to spend on gifts? Whatever amount you decide, stick to it and don’t be tempted to overspend!
3. Pick up extra work or find things you can sell. Pick up some extra cash by finding odd jobs. Many people need help during the holidays with watching kids or elderly parents while they shop, hanging Christmas lights, or cleaning the house before company comes over. Advertise your services and references with your neighbors, friends, and online. Scan your home for old video games, DVDs, CDs, or clothes that you can sell to consignment shops.
4. If you have a large family, group of friends, or coworkers, suggest drawing names for Secret Santa. That way, you only have to purchase one gift, and everyone can feel included.
5. Express gratitute, not guilt! If you’re on a budget, don’t feel like you need to buy a gift for someone just because they got you something. Write a thank you card and just be grateful! Maybe next year you can return the favor if you are in a better financial situation.
Look for our next blog, which will have 5 affordable gift ideas for friends and family that won’t break your budget!
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If you’re experiencing financial difficulty this holiday season, you can always call Flexer Law for free, friendly advice. If you’re considering bankruptcy, call (615) 805-6374 or go to the Contact Us page now to schedule a free consultation with an experienced attorney. You don’t have to live under the weight of your debt in 2015 – get help today!