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Saturday, October 18, 2008

Easy Ways To Avoid Holiday Debt

While we all enjoy the Christmas holidays, once the bills begin to arrive we are usually brought back down to earth with a bang. If you want to avoid holiday debt, here are some tips. Open up a Christmas club on January 2nd. You can contribute five or ten dollars a week to the club and by October you will either have $200 or $400 to spend on Christmas gifts. Avoid using your credit card to buy gifts. This only adds to your ongoing debt and will just leave you stressed out after the holidays. Pay with cash whenever possible. If you have to buy an item with a credit card, pay the bill off as soon as you receive it.
A Christmas budget would be a great idea to decrease the likelihood that you will overspend on gifts. Make a list of the friends and family members you intend to give a gift to and assign a dollar amount. It is important to stick to the budget. Begin Christmas shopping earlier in the year. There are always sales every week so take advantage of them. You can even buy two or more of the same item in case you have to give a gift you weren't planning on. If you like to shop online, use one credit card. There are many online coupon sites that offer great savings throughout the year. Utilize the coupons, check out the sales, and make your purchases. Remember to pay the credit card bill balance as soon as possible. Read More>>