Holidays can be stressful with lots of family obligations, travel, gift buying, etc., and of course everyone wants to celebrate. But just like any other celebration you want to practice moderation because the last thing you need is a financial hangover in 2018. Here are my 7 tips to tackling your debt and prevent going broke during the Holiday Season!
- Plan for the holidays. Take time and write things down. If you’ve been reading my blog, you will definitely notice a theme here. It’s called financial planning for a reason 🙂 Include everything – travel plans, gift giving, Thanksgiving meal prep, etc.
- Drive instead of fly. This can even become a fun bonding time with your family if you make it a creative road trip.
- Get creative and make your presents. One of my clients used this video tool to make her friend a really special present for her wedding, and it was cost effective!
- Pay off those annoying credit cards. Think about those little amounts with high interest rates (like department store cards) and pay these off. Close them down if you can so you aren’t even tempted to put yourself back in the hole buying Christmas presents come 2018.
- Get a 0% credit card. If you can’t afford to pay off a card straight away, then find a 0% card and transfer the balance.
- Make a mini-resolution not to use any credit that you can’t pay off right away.
- Every little bit helps. Even putting $25 toward a high interest card or tax debt goes a long way toward setting yourself up for future success.
I hope this helps! Please comment below with any tips you may have for keeping yourself financially sane during the holiday season. For more, check out my post on hitting your goals in the final months of the year. And if you need my help on setting you up for financial success in 2018, reach me here!
Here’s to a Happy Holiday Season!