The year is coming to an end and there are 42 days until Christmas.
If you are worrying about money right now, you should, since the year end usually means a lot of expenses. Let’s not forget Black Friday is closing in, Thanksgiving usually means a lot of money being spent and then we have Christmas and the New Year’s Eve as well.
Vacations, presents, nice outfits and so on .. all these can either leave you broke or become a financial challange.
Let’s see how we can survive financially Christmas and all these up and coming holidays:
If you do need cash badly
It’s never a good idea to get into debt for holidays fun and presents, but many people need money for other issues as well.
If you do need some financial aid to get on track with your money, you can look at some options: banks or short-term lenders who will be able to help, and personal loans same day cash can be found easily.
How to fix your money problems long-term
Getting a loan for everything life throws at you is never a smart move. So don’t use this strategy unless you are really in a bad spot, financially speaking. Piling on debt will set you even farther from reaching your financial goals, so start changing your habits now:
Stop spending money on impulse
Remember Black Friday?
If you don’t need new stuff, just ignore it. Getting some stuff you didn’t need cheap is not saving money. It’s just spending money recklessly, unless you plan to re-sell the items at a profit.
Just buying items because everybody else does it, means losing money.
The best way to save money on Black Friday is to actually ignore it altogether. If you do need something, make a note and see how the price changes. Buy, if needed. If not, move on.
Start saving an emergency fund
Most of your money problems started because you didn’t have an emergency fund.
Your car breaks, so you take a loan. You need to pay for your kids dentist, so you take a loan. You have a leaky roof, so you take a loan.
Stop!
If you don’t spend recklessly anymore, you’ll be shocked to notice you have more money at the end of the month than before.
Use this money to start an emergency fund. $1000 at first, then $2000 and go up until you could cover your living expenses for 3 months with this savings account. Move to 6 months afterwards.
Now, most of the issues you have in life can be easily solved with your emergency fund. Make sure you get it back to where it was, as soon as you need to take out money for your needs.
Properly budget for the holidays
You know they’re coming, so you can start saving some money starting from now.
Plan your purchases and look for great deals. Don’t go over your budget, Christmas is not only about presents, but also about family and togetherness.
Don’t try to keep up with the rich
You need to spend according to your budget and not to anybody else’s.
If you work as a secretary and you sibling is an investment banker, you don’t have to spend the same on a gift for them as they will spend on a gift for you. Remember, gift giving is about the thought.
So, make an effort to get the right gift, pay attention to detail, write a great card, but don’t feel the need to match gifts dollar for dollar.
The last thing you want to start the year with is a massive debt.
These are just few ideas to get back on track financially and preparing for this Cristmas. What else would you add?
