With the holiday season quickly approaching, it is easy to go a bit overboard when it comes to holiday spending. In this video, I want to walk you through 4 tips that can help get you through the holidays without breaking the bank.
1. Set A Spending Limit
Give your future self some peace of mind and set a spending limit to what you are allowed to buy this season. Use this opportunity the create a budget that keeps your future finances and bills in mind. By setting these preparations now, you can help ensure a less stressful new year for your finances.
2. Build A Healthy Spending Habit
We tend to spend more thoughtfully when we plan in advance. When planning for the holidays, make a list of gifts you intend to purchase. You can then think about when these items should be purchased. Is purchasing earlier likely to get a better deal? Or should you wait until seasonal sales take effect?
3. Personal Gifts
The old saying “it’s the thought that counts” holds vital importance to every holiday season. Show someone they are top of mind by making something personally for them, whether that be your grandmother’s famous cookie recipe or a hand-crafted wreath. These thoughtful gestures not only let others know they are cared for, but they also help keep your budget intact.
4. The Bottom Line
Debt can be a real Grinch that robs the joy from your holiday season. The bottom line is to base your gifts on sentiment, as opposed to dollar value, and dodge the holiday debt headache. That way, when your statements arrive for the New Year, you can cross off those financial burdens because you took the necessary precautions.
If you are looking to build better financial habits this holiday season, we would love to connect with you and provide action steps to help you and your family thrive this holiday season. Just give us a call at 602-343-9301 or click here to schedule a phone call.
This material is intended to provide general information and should not be construed as financial advice, or used as the sole basis for financial decisions. Investment advice is offered through Strategy Financial Services, LLC, a Registered Investment Adviser. Insurance products are offered separately through Strategy Financial Insurance, LLC.