Don’t Pay for Christmas in January

29 11 2011

Many folks have already begun their holiday shopping or will begin to purchase gifts very soon.  A sure way to beat paying bills in January for those items bought is with a spending plan.  Setting aside a budget prior to the holiday season not only helps to stretch one’s dollar, but it also makes financial sense. 

Shopping with your credit card now and without a spending plan can guarantee bills and debt in January.  Bills that you may not be able to pay in full, thus leaving you to pay a minimum balance with accrued finance charges.  Allocate what you are willing to spend on holiday gifts AFTER reconciling your monthly budget. 

Other expenses, to name a few, that should be factored in during the holiday include: 

  • Meals
  • Travel Costs (fuel, toll bridges)
  • Holiday Decorations (ornaments, Christmas tree, lights)
  • Wrapping Paper
  • Shipping Costs
  • Holiday Cards and Postage

For more tips read Holiday Spending: Creating Holiday Budgets to Avoid Debt.

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