Ways To Stay On Track This Holiday Season

Dated: 12/06/2018

Views: 30

Image title

Decide how much you can afford to spend

How much you feel comfortable spending this holiday season ultimately depends on how much discretionary income you have each month. This is money that is left over after paying for necessities like food, shelter and clothing. But it does not include emergency savings, investment accounts or retirement savings you’ve already set aside, as this money should be left untouched.



                                                                                                       Craft your budget  

Make a list of all the people you Image titlewant to buy presents for this year and estimate how much you think you can afford to spend for each person. The total figure should be a reasonable amount that leaves you with enough money for other holiday expenses like decorations and traveling. You can then write these figures down in a notebook or in a budgeting spreadsheet for when you hit the stores.

 



Image title

Track spending

Of course, you’ll need to track everything you spend. Record the details of every purchase on a spreadsheet or in a notebook. 



Image title


Avoid debt and plan for next year, keep in mind that if you carry a balance on your credit card, the interest you’ll pay will likely cancel out any rewards. And if your credit card balance climbs high enough, it could negatively affect your credit score.In this case, sticking to a cash budget is probably the better way to go, as it will help you stay out of debt and avoid running up a high credit card balance. But if you can pay off the balance in full each month, credit cards are likely the better option.Finally, it’s never too soon to start thinking about next year, so why not begin saving now? Try to set aside at least $50 a month for next year’s holiday shopping so by the time next December rolls around, you’ll have more than $600 saved.


⦁ Decide the amount to spend in advance 

⦁ Sit down and discuss the amount of money to be spent at 

⦁ Make a list (before you start shopping) Grab a pen and some paper 

⦁ Prioritize your Spending

 ⦁ Use Cash⦁Ignore Sales 

⦁ No Emotional Spending 

⦁ Stop Impulse Buying

Blog author image

Gina Vazquez

My name Yadira “Gina” Vazquez also known as JerzyGna and I’m a Florida REALTOR®, my office is located at 264 Central Ave Winter Haven, FL. I hold a Community Association Manager (CAM) License a....

Latest Blog Posts

Are There Benefits To Prepaying Your Mortgage

A mortgage is one of the biggest single debts you’re likely to willingly take on. As such, being able to properly manage your mortgage is very important. With so many options when it comes to,

Read More

Tips For DIY Paint Disposal

A lot of DIY projects involve paint. Unfortunately, the majority of them don’t use the exact amount of paint that comes in the cans you buy. This leaves you with extra paint that you don’t have

Read More

Alexa Am I Out Of Milk Smart Appliances 101

It seems like everything is getting smart these days. First the phones were smart, then the thermostats. Now you can buy smart lighting, smart locks, smart cameras and even smart little sensors that

Read More

Oct 15 2019 59346 1

Fall is finally here, which means winter is right around the corner. In the colder parts of the country, those winter months can reap costly damage if homeowners aren’t prepared. Below are some

Read More