Kelly Blodgett launched Money Gal Coaching with a goal of serving people who, like her, were burdened by debt. You can get her tips for paying down debt on a regular basis at Bring Me The News, in addition to the Money Gal Coaching website and Facebook page. In her words, these are tips and tricks that she used to pay off debt.
Here we are, that wonderful time of year where we show love and affection by participating in our consumerist culture while worsening our own financial wellbeing.
OK that was dramatic, but is it not true? This year has taught us that physically being with one another is not only something we crave, but it’s something we need.
Dinner parties with friends, trying something new with a spouse or connecting with loved ones at the annual holiday gathering is far superior than anything big box stores have to offer.
Black Friday this year broke records for online shopping, topping off at $9 billion. And as you might have guessed, Cyber Monday broke another record at $10.8 billion.
While I can’t stop the economy from surging during the holiday season, I can ask that we all reflect on what we are buying, why we are buying it and does anyone actually want it?
Here are three tips to keep your holiday spending under control so that you don’t start the new year with buyer's remorse.
1. Be sure you are setting money aside
Presents, gift wrap, holiday grocery store runs, it all adds up. Create a realistic budget that you know you can follow this year and remember that your January self would appreciate little to no credit card debt. Click here to download a template to get started on your budget.
2. Don't buy a present for everyone
Keep your shopping list to a realistic size and only give something that you know the person truly would enjoy (hint, you don’t always have to buy something, handmade items can be just as fun).
3. Agree on a dollar amount
If you are buying gifts, whether it’s with a family gift exchange or for a spouse, agree on a total dollar amount that you are comfortable spending. To help you stay on track be sure to compare prices on multiple sites and shop early for deals.
Disclaimer: Bring Me The News will receive a portion of the proceeds from readers who purchase a service from Money Gal Coaching via our articles.