We are in the final quarter of 2019, and facing the most dangerous spending months of the year.  It is time to make your holiday budget plan and your new year’s resolutions for debt free living in 2020!  Here are five hints I’m following this year as part of my resolution to be debt free in 2020.

  1. Create our own decorations.  Sometimes, less is more, and with a little creativity, we can avoid overspending.  When I realized how much is spent every year on package decorations, and decorations for the home, I decided to opt out of the insanity.  This year, the decorating plan will use cinnamon sticks, pine branches and holly leaves, to decorate packages.  The bonus is that those packages will be easier to stack with no bows to smush.
  • Make a budget for gift giving, and stick to that budget.  Be realistic.  By that, I mean if you are probably not going to stick to a $20 gift limit for close friends and family, push the budget higher after checking to make sure the funds will actually be there.  The goal is to avoid any gift purchases on credit.  If you can afford more without shorting other obligations, great.  If not, think about cutting back on your spending budget.
  • Keep your eye on the ball.  The holiday parties were originally  about gathering with friends and family and celebrating various religious events.  Regardless of your beliefs, you can focus on the people at the events, not on what you give or get.  Take some time to enjoy your loved ones this season.  If others in your group are interested, plan a low cost event instead of a gift exchange:  Gingerbread house contests, holiday lights tour, holiday move night, go caroling. 
  • Don’t be afraid to say no.  You don’t have to be at EVERY holiday event.  Pick some that are important to you and your family, and then start saying no to the other events that threaten to overload your schedule and stress.
  • Remember an attitude of gratitude.  Being grateful for what is in your life, helps you enjoy more of what is in your life without craving what you don’t have.  When you are overwhelmed by debt, there is help. Come see us at DebtFreedomPros.com to be matched to a debt counselor who can help you find your way back to the life you imagined.