Don’t Let the Holidays Cause Even More Debt!
It seems that everywhere you turn there is someone else asking for donations or another person is added to your Christmas list. It is hard to put a limit on spending during the holidays when there are so many people to spend money on. However, Jamie L. Gingold, PC, GingoldBankruptcyLaw.com (Formerly practicing with Gingold & Gingold LLC) wants to encourage you to stick to your budget, keep paying off debt, and to not acquire even more debt during the holidays this year.
It may be difficult for your generous spirit to say, “No,” but until you are completely out of debt “no” is your only answer. By being honest with others and telling them that you simply cannot afford to spend money on a gift may seem difficult to do, but the relief you will feel not adding on to your budget is a great reward.
Making a list of exactly who must receive a gift this holiday season will help keep you and your budget on track. Your children are a must, but if things are especially tight this season, explain the situation to them and ask for their support as you get your finances worked out. If you and your spouse have always given each other gifts, this would be a great time to put money into your debt relief fund instead of spending money on one another. Another great thing that you can do to help yourselves during the holidays is to cut up all of your credit cards. This simple step will keep you from spending money that you do not have and eliminate the temptation to charge items.
Getting out of debt is never easy. It takes hard work, determination, and the refusal to allow yourself to get into more bad financial situations. By taking certain steps to eliminate the temptation and possibility to get into deeper debt, not only can you enjoy your holiday season, but also you can actually begin a new year on the right path to becoming debt free. Don’t let the holidays cause even more debt! Stick to your convictions until you can say, “I am debt free!”