“Tis the Season” and you know what that means – spending lots of your hard earned cash. The holidays can be hard, but with proper budgeting and a little bit of planning, we can all make it through.
We have three steps to make your holiday season a little easier.
1) Build a budget:
Without a budget you have no way of knowing if you’re on track or not. You need to know how much you are spending and how much you have coming in, so you know much you have left to spend.
2) Identify and evaluate your daily disposable expenses:
Expenses like your mortgage/rent or car payments are fixed expenses that are pretty much locked in and don’t have a lot of flexibility. However, you do have flexibility in your daily expenses. Things like that soda at lunch or that song on iTunes. If you need to find some extra money, your daily expenses are an easy thing to cut back on to generate a little extra holiday cash.
3) Don’t lose sight of your goals:
Sometimes it’s easy to get swept up in the holiday cheer and focus too much on the “I Wants!” Try your best to remember the “I Needs.” Don’t forget about important things like your retirement. Gifts are great, but a great retirement takes time and commitment.