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Be the Boss of Your Finances this Holiday Season.

It can be easy for spending to get out of control during the holiday season. That’s why it’s important to remember that you’re the boss! Instead of letting your money control you this holiday season, start controlling your money. You’ll feel happier when the season is over if you still have some cushion in your wallet.

Before you buy a single item this season, create a budget! Look at your finances and monthly expenses and determine what you can realistically afford this season. Then list everything you’d like to spend money on – gifts, event tickets, dinner parties, decorations, etc. Based on the overall budget you determine, you can then allocate money toward each category. If it helps, you can even withdraw cash and divvy it up into envelopes for each category. This will help ensure you don’t overspend.

To get more bang for your buck, try to use coupons and look for good deals as well. According to Howard Dvorkin, CPA and founder of Consolidated Credit Counseling Services Inc. in Fort Lauderdale, Florida, it’s also best to shop early, from about October 1 through December 1. * This will give you plenty of time to compare prices and get the best deals. If you wait until the last minute, you may be tempted to buy overpriced items because you’ve run out of time.

Mari Adam, a Certified Financial Planner in Boca Raton, Florida says it best, "Limit the size of your Christmas in terms of gifts, and make it big on meaning -- from family, friends, [and] traditions to creating memories." *

* http://www.bankrate.com/finance/credit-cards/tips-for-stretching-your-holiday-budget-1.aspx


Posted: 12/4/2014 with 0 comments

Categories: Budgeting, Saving, Spending



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