Christmas is an expensive time of year. No matter how much we try to save throughout the year, we still find ourselves spending beyond our budget. With Christmas ad campaigns on radio and tv encouraging us to spend, spend, spend, it’s no wonder we go into debt to satisfy gift giving expectations.
You may have noticed that the price of school supplies and everything else for that matter is increasing at a rate faster than our wages. If you’re like me, you’re probably looking for ways to stay within your budget as your disposable income shrinks.
The temptation to buy is all around us. If you’re a spender, you’ll find it hard to resist the temptation to reach for your credit card every time you want something. You have trouble separating your wants from your needs and struggle to pay off the full balance on your credit card each month let alone save each month. If this sounds like you and you want to make a change, here are some tips to help you take control of your money.
Financial success is not determined by the amount of money you make, but it’s what you do with what you make that will determine whether you achieve your financial goals. If you eat out too often or you have impulsive buying habits, it may take you longer to save towards your goals. If you tend to shop at more expensive grocery stores for convenience rather than driving a few more miles to the cheaper stores, where you can buy cheaper in bulk, then your food expense will eat at your weekly budget.
Now that Christmas is over, we can finally recover from the holiday shopping blitz. It seems that no matter how much I tell myself that I will not overspend, I never stick to the program. So, I find myself scrimping for the next three months following Christmas.
Imagine getting hit with an unexpected cost like a car repair that will cost you thousands or a medical bill that’s not covered by your insurance. What if you suddenly lost your job? Do you have enough to survive the next few months?