We have less than six weeks to go before we close out 2019 and enter into a new decade! It’s the time of year when the schedule gets hectic with parties, dinners, shopping, and other fun but stressful events. Holiday planning can be extra difficult when you’re operating from a scarcity position. Gifts and other holiday expenses are going onto one credit card or another. You’ll just have to figure out how to pay the card off next year.
You already know what’s going to happen, come January, because you’ve been there before. The credit card statement comes in, and you still have no idea how you’re going to pay for it all. The minimum payment goes up. Interest charges go up. Before you know it, the balance is ballooning out of control. Stress levels go through the roof, and the cycle continues.
Making a Plan for the Holidays
Why not make a plan to avoid this cycle this year? You may not have a ton of time before we’re in full-on holiday mode (Thanksgiving is next week, after all). But you can still make a plan for the time and money you do have! With a little holiday planning, you can drastically reduce spending and stress levels that follow you into the new year.
Sit down soon and think about all of the purchases you have to make for the holidays. The sooner the better. This could include Christmas gifts, additional groceries for holiday meals or parties, and tips/bonuses paid to hired workers. Really try to brainstorm to come up with a complete list of what you may be spending. Think about a specific amount you want to spend on each person for whom you’re buying gifts. Think about ways to keep food costs reasonable. Identify wants versus needs during this season, and try to keep your spending to needs only. Be specific about dollar amounts for this holiday budget. Once you come up with a total budget, stick to it. Again, planning is key!
Think About Increasing Your Income
I’ve been harping about this over on my social media accounts lately, but it really is true. If you are stretched thin on income, the holidays are the best time to find a side job. Most retailers are hiring additional employees for the busy holiday season. Apply now if you want to put some extra hours in and get a little more cash.
I hope these tips and suggestions may help you as you think about holiday planning. If you need additional guidance, get on my schedule today! We can develop a game plan that is tailored to YOU and your situation. You don’t have to go it alone!