It’s the holiday season, …
…And there’s no reason you need to let the stresses get to you.
Year after year, I have folks like you who let themselves get lost in buying and end up loaded up in debt come January and February.
I’m not trying to be a “humbug” about buying “stuff” and you and I both know there’s no replacement for the look of excitement on your child’s face Christmas morning when they get that “must have gift.”
…But don’t go broke doing it.
Every year, I talk about this and every year, I see clients and friends busting themselves in January to make ends meet because they put Christmas (and the rest of the Holidays) on a credit card.
In years past, I’ve even seen folks who relied on their tax return for the year to finance Christmas, but, as many of you noticed, those returns changed dramatically last year.
So, what should you do?
Honestly? I can’t be you. I can tell you that budgeting for Christmas is far smarter than spending frivolously, but you have to be comfortable with whatever you spend. Over the years, I’ve also seen families that scrapped the entire “gift” process for the sake of taking a vacation as a family and creating memories instead of debt and broken widgets that don’t make it to New Year’s Day.
My only hope for you, this holiday season, is you simply act to master your finances and learn to say “no” to buying simple consumer goods that don’t; retain any value. As a CPA and tax specialist, I’m intimately aware of the many mistakes people make, especially in the holidays – signing up for “free” credit cards, using store-level credit cards (ABSOLUTELY a no-no!) and overextending themselves.
This year, declare yourself independent of the boom and bust cycle of consumerism and focus on your family and the people you love and care about.
IF they love you, they’ll admire you for that, and if they don’t, they never really liked you that much to begin with!