I am oh so excited that the holiday season is really and truly finally upon us! Tis the season to drink some hot cocoa and open presents. Paid for presents. Not presents that will eventually be paid for.
Honestly, there is nothing worse than that random day in January when your credit card statement arrives and that sense of dread hits you right in the stomach. “What the heck did we buy?” “We spent what?”
I’ve felt that feeling before. It sucks.
A few years ago, we were seriously short on money. It was no joke. And so we did what most people do when pressured to purchase presents: we put our purchases on a store credit card. As you know, department store credit cards have the most astronomical interest rates known to man.
But tis the season to incur some debt…and so we did.
And when the fateful day in January arrived, and our lovely statement decided to make its way into our mailbox, we were disgusted.
We said never again. If we don’t have the money, we don’t have the money. Period, end of story.
That’s why budgets are so important, especially around Christmas. It’s so easy to get sucked in to sales and clearance items and the newest shiny gadget. But don’t do it.
Write down what you can spend and shop accordingly. If you can only spend $100 for Christmas presents, then only spend $100. Not $102 or $110. Just the $100.
At this time of the year, that saying that “It’s the thought that counts” really holds true. There is no sense going into debt to buy someone a gift. Really, there’s not.
Make your Christmas budget and stick to it.
And when January rolls around, there won’t be any need to hide from your mailbox.