Avoid the Holiday Splurge Urge

November and December are months of special dinners with family and friends, parties, and exchanging of gifts. These are good times and higher-than-usual family expenses.

Unplanned or over enthusiastic holiday spending can create financial troubles, especially in January when the bills arrive. Follow these steps to avoid the holiday splurge urge.

• Estimate holiday expenses, including travel, special meals, charitable donations, phone calls, gifts, and greeting cards. List the people you usually buy gifts for, and this year's gift ideas.
• How much you can afford to take out of income, from savings, and how much can afford to put on credit cards?
• Set realistic limits. Remember, it is the thought that counts, not the price tag.
• Shop early, take advantage of sales, and avoid impulse buys.
• Keep track of the costs and know what bills will be arriving.
• Control your spending, lower financial stress and enjoy the season.

 

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