Live Within Your Means
This holiday season is as good a time as any to hone in your fiscal responsibility. When you are black friday shopping or knocking off your Chrismas wish lists, remember what you can actually afford – not what your credit card limit can afford. It bears repeating that your credit card is not money you have, it is only a line of credit for you to borrow. You will have to pay this back and the kicker is most times it will be much more than you originally paid for the products because of interest. Most people don’t think of it this way, but just imagine paying for a reverse sale. For example, you buy an ipod for $90 but in reality you’re paying $115 because you are borrowing money to pay for the ipod. If you can’t buy someone a big ticket item, try giving them cash or a gift card instead “for that purpose”. Most people will understand and this way they can get what they really want. Another remedy is to go in together with one or more people to buy the item. Here the person still receives the gift and the gift givers are hit easier on the pocket book. These Christmas shopping tips can help make a big difference in your savings and spending. Remember, you need to spend less and save more. Find creative ways to do this and it can ease your transition. Finally, remember Christmas isn’t supposed to be about presents. Give with good heart but also your realistic budget in mind.
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