Truth: The end of the year holidays are expensive, and they will be here soon.
With interest rates and inflation rising, this year could be the most expensive ever. With gifts, decorations, and other seasonal purchases awaiting you, you might be surprised at how easily holiday spending can get out of hand. Start planning your vacation now.
Create a vacation budget well before the holidays.
Decide how much money you can afford to spend overall. Write it down and stick to the plan, especially as the season progresses. It’s easy to get carried away by the holiday spirit or get caught up in last-minute shopping. Setting a budget ahead of time can help you figure out how much money you can devote to each category of expenses, including gifts, food, entertainment, and other holiday treats.
Be careful about spending on your credit cards.
Before you sit down to plan your vacation spending, make a list of the debt you already have on your credit cards. Set a firm limit on the amount of credit you will use during the season and be careful not to spend more than you can realistically repay. Next year‘s holidays will be fast approaching, so plan to pay off any holiday debts as soon as possible.
Save now – spend later.
Find a way to easily set aside a few dollars from every paycheck, whether monthly, semi-monthly, or weekly, and make sure the money goes straight into a separate location or savings account. Bring your lunch to work once a week and put what you would have spent in an envelope marked “holidays”. At $15 a week, you’ve saved $750 that you can use toward vacation spending over the course of a year.
Make your travel plans as early as possible.
If you’re one of the more than 115 million Americans who travel for vacations, you probably already know firsthand that booking flights, renting a car, and paying for gas or other travel expenses can quickly add up. Airlines, train stations, hotels, and others in the travel industry tend to charge higher prices around the holidays, and those prices only increase as the end of the year approaches.
Eliminate unnecessary holiday stress
The holidays are stressful enough without the added pressure of being in debt or racking up even more debt. However, if you are facing a mountain of debt that you will never be able to pay back, please give us a call so we can help! Give yourself the Christmas gift of being debt free.
Bond & Botes helps people struggling with debt
Let us solve your financial problems. There is no obligation, and that means no disadvantage in gathering the information you need to make good decisions about how to break the cycle of debt stress and move forward. We can answer all your questions about chapter 7 bankruptcy, chapter 13 bankruptcy, ending a foreclosure or wage garnishment, avoiding liens, ending court proceedings, paying off medical debt, personal loans, payday loans, credit card debt, etc . We can relieve your stress! We want to help and we can help you!
Bond, Botes, Sykstus, Tanner & McNutt, PC
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