You don’t have to give up on your financial goals to have fun this Christmas!
The holidays are here, and while it’s tempting to focus on the fun and festivities, you don’t want to wake up in January realizing your long term financial goals are further away. Here are some tips to help you balance!
One. Make a spending plan. Plan how you’ll allocate funds and stick to it! Make sure you include everything: food, travel, gifts, decorations… if you’ll be spending money on it, put it in the plan!
Two. Try to incorporate low cost traditions if needed. If you can’t afford to foot the whole bill for Christmas dinner, try making it a potluck where everyone brings something. Look around for free or low cost activities that your family could enjoy together. Remember the most important part of the holidays is to spend time with your loved ones.
Three. Don’t be afraid to say no. Some things just might not be in the budget and that’s okay! You have to be able to say no if you want to reach your goals. Whether it’s an expensive gift exchange, a pricey trip, or a fancy party, it’s okay to opt out or suggest alternatives.
Four. Don’t go into debt during the holidays. It can be tempting to put expenses on a credit card or even take out a loan to pay for Christmas festivities, but unless you can pay it back before the interest starts to build, don’t do it! Remember that credit cards can be useful, but once that interest starts to pile up, it can be hard to get out from under it.
Focusing on your goals, while still making time and space for holiday fun is possible. You have to be responsible and not compromise the future you’ve been working towards.
Get my free Christmas money guide to help you stay on track this holiday season. Click here to download!