Money Saving Tips for the Holiday Season
The end of the year is always eventful from Halloween to New Years, but with the bustle of the season comes lots and lots of spending. The last thing anyone wants to start a new year with is thousands of dollars in credit card debt and consulting with a personal bankruptcy attorney. Here are 5 tips on how to get through the holiday season without tons of credit card debt and a looming bankruptcy:
1. Keep it Simple – Remember that being around friends and family during the holidays is more important than thousands of dollars worth of “stuff” so don’t go overboard when shopping for gifts or planning a menu. Try to give yourself a price limit when shopping for specific people in your life and stick to your plan.
2. Plan Ahead – If you are hosting a holiday at your home don’t wait until the last minute to create a menu and buy the groceries. Make your menu early so that you can delegate to your guests what they can bring. Asking guests to bring an item isn’t rude, it’s smart and allows everyone to feel like they pitched in for the event.
3. Look for Sales – Black Friday and Cyber Monday aren’t the only holiday sales worth looking forward to. Most retail shops have sporadic sales from October until December to keep customers in the doors. Check for online deals with free shipping or ads in the Sunday paper to keep up with the best value for the price.
4. Homemade gifts – Handmade gifts not only have a personal touch, but they can be great if you are trying to find a way to give lots of different people a gift. Bake cookies, make ornaments, make candies, or stock up on bulk candles for a nice gift that won’t break the bank.
5. Buy throughout the year – The good thing about the holiday season is that it’s consistent; it comes at the same time every year without fail. Because of this make sure and keep your eyes peeled for sales throughout the year on bulk items or even special items that you want to get for certain people in your life. Spreading out your spending will keep the holiday season from feeling like nothing but a spending spree.
The best way to not fall into a debt trap during the holidays is to simply not spend what you don’t have. Start an account and the beginning of the year for holiday gifts and groceries so that you don’t automatically rush to use credit cards when October comes around. By using this tips you can avoid thinking about filing for bankruptcy after having a wonderful holiday season. Remember you can only file Chapter 7 bankruptcy once every 8 years so an overboard Christmas spending spree is not what you want to cause one.