‘Tis the season to shop and buy. Unfortunately for too many it is also the season to indulge in over-spending.
Here are some tips to avoid the January financial crash of December’s overspending.
• Write a list of each person to whom you are going to give a gift.
• Decide how much you will spend on each person.
• Understand the cost of the gift does NOT relate to the worth of the individual or your relationship.
• It’s the thought that counts is an axiom to be believed and followed.
• When you have allocated your spending limit, list your first and a couple of alternate choices for each person.
• If you come in under budget for one person, don’t overspend on the next.
• Shop sales. Know what and where you are going to get your gifts
• Don’t overlook the smaller local stores. They may have what you want at a reasonable price. The double benefit is that you will be keeping your buying dollar locally, and that will help your community.
• Do NOT use credit store branded cards. Chase Bank may the most recognized store branded card, and Chase charges 31.9% on most of those branded cards. (The law permits up to 32%).
• Get the cash you have allotted in your budget and use cash. Seeing the dollars dwindle tend to curtail excess spending. Not seeing the credit card balance mount up encourages over-spending. Studies prove people buy less using cash than when using credit cards.
• Don’t make a religious Holiday event an excuse for piling up too much debt. The two don’t relate to one another except in the eyes of greedy corporate retailers who have turned the season into a buying frenzy.
• Remember, Happy Holidays is the Politically Correct greeting used by retailers to ensure no one is offended. The traditional Christmas greeting is Merry Christmas. The traditional Hanukkah greeting is Happy Hanukkah or Peace.
• Be a rebel! Be specific! Be traditional!
• By the way, this year, Hanukkah begins on December 6 and ends on December 14, 2015.