5 Simple Ways to Shop for Christmas Gifts on a Tight Budget

Written by adminDecember 21, 2018
Saving

We’re officially less than a week from Christmas day. If you’re like most people, you probably don’t have your stockings filled just yet. In fact, a lot of people still wait until the literal last minute to finish buying gifts. There’s always the sticklers and family members you don’t know how to shop for.

Then there’s the pesky budget to worry about. The Christmas season is clearly the most expensive time of year. People will spend money they don’t have to buy gifts. And it’s more than gift buying, but also food, parties, travel, and seasonal clothing. You can’t go to your office work party and NOT wear an ugly Christmas sweater!

According to ABC News, January and February see the largest increase in the number of people looking for extra work. The jump is about 25% from the rest of the year. Consumer Counseling agencies believe that this jump has a lot to do with Christmas spending in November and December. The credit card bills come in and suddenly it’s time figure out the madness.

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In reality, the smarter decision is to plan ahead of time. You’ll spend less money and not be desperate after the Christmas holiday is over. Here are 5 simple ways to do your shopping on a tight budget.

1) Plan Your Christmas Shopping Ahead of Time

Sit down at the table and write a list. Remember everyone you want to buy a gift for. Then, for every name, create a budget. Look at your bank account and determine how much money you want to spend overall, then separate that between each person you want to buy for. Don’t be afraid to cut some people out if you’re having a rough year. They’ll understand. Planning ahead is key and setting a budget will save you trouble and extra work later on.

2) Pay in Cash

This is perhaps the easiest thing you can do to prevent yourself from overspending. The amount you determine you want to spend, pull it out of the bank account. Use cash to buy everything. Once you run out, then that’s it. Christmas spending is over. Maybe add a few extra bucks just in case, but be strict on yourself.

3) Shop Alone

Many people are too easily influenced by friends and family. If they’re spending a lot of money, you’ll also want to do the same. A ‘partner in crime’ while Christmas shopping could get you buying things you don’t need nor want. So, the best thing you can do is go out alone. You’re more likely to not spend as much money that way.

4) Give Christmas a Theme

Something a lot of parents like to do is just splurge on their kids. Buy them as many presents as possible, but what really happens? They might play with a couple of them, but most of the time, they don’t. Toys end up in the closet or in a basket somewhere 99% of the time. Instead, figure out a better way to do Christmas. Some families do a “want, need, wear, and read.” Get them one toy they really want, then something they need, followed by clothes and a book.

Or you can decide it’s time to do something different altogether. Christmas is the giving season, after all. If money is tight, there’s no better time to give more of yourself rather than just money. Serve at a soup kitchen. Do something different that takes money out of the equation.

5) Don’t Be Afraid of Discount Stores

Discount stores are where you’ll find the biggest bang for your bucks. They’re especially helpful if you choose to make gifts or need cheap decorations. If you have nieces and nephews, you can’t go wrong with coloring books and non-expensive gifts from the Dollar Store. And there’s nothing wrong with inexpensive clothes from Walmart. Save money!

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Outstanding Student Loan Debt in U.S. Hits New Record High

Written by adminDecember 20, 2018
Student Loan Consolidation

Student loan debt continues its record-breaking rise in the United States. As of November, the amount of outstanding debt has reached $1.465 trillion. As with any kind of debt, this amount is creating a lot of fiscal risks and putting millions of Americans in danger.

“Over 90% of student loans are guaranteed by the U.S. Department of Education, meaning that if a recession causes a rise in youth unemployment and triggers mass defaults, this contingent liability could prove burdensome for the U.S. government budget,” said Paul Della Guardia, economist at the Institute of International Finance in emailed comments.

Most of the student loan debt has accumulated since the recession is ended. As the numbers continue to increase, so as the number of students who have defaulted. Those who defaulted have done so at a faster rate than at any other time in history. It’s definitely revealing a lot of hardship within the younger generations.

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The Age of Student Loan Debt

The largest age group since 2012 to suffer under the burden of student loan debt continues to be millennials. They are between the ages of 24 and 33. This is the age when most of us seem to be the most financially vulnerable. Unemployment was twice as high back when this age group attempted to join the workforce.

Even after they graduated, it took lineal three times as long to find a job than it does today. You can imagine the amount of frustration and misery that endured during this time. You had people graduating college with thousands of dollars’ worth of student loan debt. One they did graduate, they had no opportunities. The jobs just weren’t there.

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The students found themselves in a cycle of perpetual student loan debt. Their loans defaulted but still collected interest. The interest rate for a direct student loan before July 1 of 2018 is 100% higher than it was in 2012. This only adds to people’s trouble, as they can never dig themselves out of the hole. No matter what they pay, interest comes right back behind and adds more.

Broken Down by Age

• Ages 25-34 owe $489 billion
• Ages 35-49 owe $530 billion
• Ages 50-61 owe $213 billion
• Ages 62 and over owe $62.5 billion

It’s interesting to see that even baby-boomers and the oldest generation still owe billions. Student loan debt hits every generation. There appears to be no help in sight.

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Student Loan Debt Forcing Americans to Desperately Fall Behind

Written by adminDecember 19, 2018
Life Style

They say there are only two certainties in this world: death and taxes. Both give us an uneasy feeling in our gut, but only taxes haunt us relentlessly every single year. It’s not just taxes. It’s the cumulation of all our bills. Interest rates climb. The cost of living goes up. College becomes increasingly expensive, forcing people to take out student loan debt and fall behind even more.

The reality is, many Americans struggle from time to time. Income volatility happens to us all. This can make it extremely difficult to fulfill our obligations.

It was estimated that as many as 8.2 million of us get behind, owing as much as $83 billion to the IRS. Add that to the $5.3 trillion owed in student loan debt. What about credit card debt and mortgages? People are fighting to keep up during a time when the economy constantly bounces from one extreme to the other.

There are numerous reasons why this happens. It can be anything, such as their life is completely out of control, to simply not having enough money. Life disruptions, such as a death, sickness, and divorce, happen to most of us. Having student loan debt makes it all increasingly worse.

Income and economic volatility makes it difficult as well. If you don’t know what your income will be any given year, it makes it downright impossible to guess how the year will play out. If you’re doing well for a year, you might consider getting a new vehicle. Then you’re stuck with the lease even if you lose your job.

If you have a lot of student loan debt, give Financial Helpers a call! We’d love to hear from you. You can reach us at:

Call Now 844-332-2079 

Student Loan Debt Getting Increasingly Expensive

This isn’t even the worst part. It’s understandable that we have needs. Life is getting increasingly more complicated and expensive while income remains unpredictable.

The problem is, no one cares. It doesn’t matter what reason or excuse you have. If you don’t pay your taxes, they will come after you. If you can’t afford your student loan debt payments, it will go into default. They’re like sharks smelling blood in the water: relentless. The mayhem won’t stop until you’ve paid what you owe.

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The first step is usually a bill in the mail, followed by phone calls. If that doesn’t work, they’ll show up at your door or place of employment. Then they pull out the big guns, escalating the situation even further by taking drastic collection measures that include wage garnishment, seizures, and liens. That’s on top of adding interest and penalties.

Whatever it takes, they’ll do it without mercy.

You Can Fight Back

Despite the misery getting behind can spread, there are ways you can successfully fight back!

The worst thing you can do is to sit and let the government take your money, property, or put a lien on your bank accounts. They will keep piling on interest to increase the amount you owe. It’s a self-perpetuating cycle that won’t just resolve itself.

The best thing you can do at this point is to find some muscle to help you deal with the situation. Consolidate loans. Don’t secure more debt until you have the old debt paid off. And whatever you do, don’t get behind. Pay your bills on time.

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Be on High Alert for this Holiday Email Scam

Written by adminDecember 18, 2018
Life Style

It seems as if every year, there’s a new scam for consumers to be worried about. 2018 is no different, as a new scam is spreading this holiday season. It works by tricking you into thinking you’ve bought something when you didn’t. So, how does this scam work and how can you prevent it from taking advantage of you?

Scam artists are great at picking apart human behavior and striking at the right time. Currently, millions of Americans are shopping online for their loved ones. How many of us have been buying gifts? With that comes a bit of concern for privacy. We have an expectation that while we’re on Amazon or other e-commerce sites that our data is protected.

When we shop online, we often get an email correspondence from that website thanking us for our purchase. Scammers are hoping to use this busy online buying system to trick users into thinking someone stole their card and was making unapproved purchases. They’ll receive a malicious email citing an online purchase was made.

“The kind of spam that criminals use doesn’t seem so spammy to a lot of people this time of year,” said F-Secures Behavioral Science analyst Adam Sheehan in a statement. “The failed delivery notification scam works because it plays on our trust of huge brands that we deal with on a nearly constant basis.”

The “Science” Within Scam Emails

F-Secure conducted a study that found people are 39% more likely to click on phishing scam emails during the holiday season. The scammers pretend to be a reputable brand you probably shop at. It’s easy to get caught up in the emotion of the season. In this way, the scam artists are like amateur behavioral therapists who understand human behavior.

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“They know we’re inclined to click first before we ask questions,” the cybersecurity firm said. They count on us being extra busy and distracted. 69% of the spam campaigns attempted to get the users to visit their fake website and download malware-filled software. By doing that, they can gain access to your credit card or bank account information.

“They [criminals] use this information to take over accounts or use the credit cards to steal goods and services online,” Wilk said.

How to Protect Yourself this Holiday Season

The best way to protect yourself is to remain vigilant over your purchases. If you keep track of what you buy and keep a close eye on your bank account, it will be difficult to catch you off guard. It’s also important to buy only from secure sites, which guarantee your information is protected at all times.

You can also help yourself by not clicking on every email you get. Train yourself in looking for scams, so you can avoid them at all costs. Rather than using the link provided in the email, go to the website instead to check what you actually bought. You’ll find more often than not that the email was an attempt to scam you.

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5 Ways to Throw a Festive Christmas Party on a Tight Budget

Written by adminDecember 17, 2018
Life Style

Christmas is about a week away! We’ve finally made it to that final push to get through the holidays. If you have a tight budget, you might be wondering if having a celebration is worth the cost. Maybe you’ve always thrown a great Christmas party, but money is tighter this year. No need to fret! You can still have a great party without spending a lot of cash.

The truth is, you can have a lot of fun and barely spend any money at all. You can do it without losing any of the festive Christmas fun! In order to do it, though, you must keep things simple and focus less on throwing a huge bash. You can still have a lot of fun with a few close friends and family members.

The idea is to have Christmas fun without the stress. If you’re going to be stressed the whole time and worry about your budget, there’s no point in having the party. If you virtually have no budget, then perhaps consider sitting out this year and attending rather than hosting. But, if you’re still deadest on having a great Christmas party, here are a few ways you can do it.

1) Create Your Christmas Budget

Having a tight budget over the Christmas holiday is difficult. You have gifts to pay for, dinner, travel, and more. To throw a decent holiday party on top of it can really stretch a budget thin. The great way to figure it out is to budget all your needs beforehand. If you haven’t done it yet, sit down and determine how much you can spend.

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You don’t have to go crazy for your Christmas party. You can spend $50 and still have a decent gathering of people. But the first step is understanding how much you’re going to allow yourself to spend. Whatever you do, don’t go overboard. Putting it all on credit because you weren’t prepared could bite you later.

2) Send E-vites

Rather than spending a lot of money on traditional invitations, there are other ways to invite guests. You can send them E-vites, which is an electronic invite that gets delivered by email. You can also start a group on Facebook and share with everyone you want to attend. They can promptly alert you whether they’ll be able to attend or not.

3) Make Your Own Decorations

Christmas decorations can get expensive. Most homes probably already have a set of decorations they box up and reuse every year. But, if you don’t, you won’t have to waste your budget decking all the halls. Thrift stores and dollar stores will have good decorations for cheap. Also, be sure to buy right after Christmas is over, as that’s when you’ll find the cheapest stuff.

4) Eating on a Budget

One of the great things about a party is, almost everyone is willing to bring something. If you can’t afford a ton of snacks and beverages, just simply ask! Turn your party into a potluck. Ask your friends to bring a bag of chips or a 2-liter. That ensures there are enough snacks to go around. Maybe supply a few bowls of candy and some hot cocoa.

5) Ask a Friend

If you simply don’t have the money to host, that doesn’t mean your Christmas party is sunk. Maybe you have a friend who is willing to have it at their place? Perhaps they have a lot of great decorations and wouldn’t mind hosting a gathering of friends. What matters most is celebrating the holiday season with loved ones.

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DeVos Loses Court Case and is Forced to Discharge Millions in Student Loan Debt

Written by adminDecember 14, 2018
Student Loan Consolidation

Yesterday evening, the case against the U.S. Department of Education was finally settled. We’ve been covering the developments and now it would appear that Betsy DeVos loss her case. She is set to cancel out over $150 million worth of student loan debt. This money is specifically for students who were defrauded by for-profit schools that are now closed.

From the beginning of the Trump administration, it’s been obvious they weren’t interested in helping students. In fact, DeVos brought onto her team numerous CEOs who once worked for the very for-profit schools that were causing problems. From day one, she set out the cutback on Pres. Obama’s student loan debt policy.

The Obama administration created a program to help borrowers who were defrauded. The students were meant to obtain student loan forgiveness and have their debt removed. But DeVos had other plans. She thought this policy was unfair to taxpayers, as they would have to foot the bill for their college education.

DeVos had a different plan in mind. Rather than just blanket student loan forgiveness, the government would award benefits on a salary scale. The idea is to determine how much money a person is making from their degree. Would it be fair to taxpayers to pay for your education, especially if you’re making money from it?

To learn more about student loan debt and how you can get your loan forgiven, give us a call! We’d love to help you get on the right track. You can reach us at:

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The Judge’s Ruling

It wasn’t long after DeVos attempted to cut Obama’s policy before states started stepping in. Her attempts to keep the slaw from being enacted was illegal. A federal judge ruled against her back in October. DeVos is now being forced to enforce Obama’s student loan debt protections. If a borrower was scammed by a for-profit school, they can have their loans discharged.

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Around 15,000 people are eligible to have their loans discharged, but they must follow the tenets of the program. They have to apply and show that they were scammed. Half of these borrowers went to Corinthian college, who filed for bankruptcy and closed in 2015. The process can take up to 90 days to complete. The Department of Education will begin to notify those with this type of student loan debt.

Those with Student Loan Debt and Lawmakers Still Not Happy

“This is a good first step, but it’s not good enough. … [DeVos should] abandon her attempts to rewrite the borrower defense rule to let for-profit colleges off the hook and instead fully implement the current rule and provide relief to more than 100,000 borrowers who were cheated out of their education and savings,” Sen. Patty Murray (D-Wash.), a member of the Senate Education Committee.

Despite these rulings, DeVos still has a fight on her hands. She still looking at creating a student loan debt policy that’s stricter on forgiveness. She continues to push the boundaries of the law. It looks likely that she will be investigated for her role in pulling back support for defrauded students. Protecting these students should be the government’s priority, but it’s not.

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7 Ways to Afford a Quality Christmas Feast on a Tight Budget

Written by adminDecember 13, 2018
Life Style

Christmas is just around the corner. If you’re like most Americans, you’re stressed out. More than ever it would appear budgets are being stretched wider as most of us are in debt and struggling to keep up with the bills. That’s why when the holidays roll around, the choices we’re forced to make grow even more difficult.

How do we put together a family holiday, make memories, and do so with a reasonable budget? Well, the answers are out there if you’re willing to look. You’ll have to make the conscious decision to save money and cut corners. Don’t worry, you can still have a great Christmas without skimping on quality.

One of those areas involves the Christmas feast. If you’re hosting this year, you don’t have to break the bank. Here are 7 ways you can save money without compromising on quality:

1) Buy a Larger Bird

This might sound strange, but if you’re strategizing the best way to save money, why not buy the larger bird? Yes, larger birds are more expensive but don’t forget the leftover effect. Who doesn’t love having a bit of extra turkey to munch on for days after the holiday? Buying a larger bird is a few bucks more, but provides for multiple birds.

Of course, if this is not an expense you want to deal with, get the smaller bird. You can more than make up for the serving sizes of much cheaper and more filling carbs. Load up on the stuffing and potatoes, but ration the bird. Either way, look at pros and cons of each bird size outside of the cost.

2) Make Sure to Plan Christmas Dinner Ahead of Time

To make Christmas dinner a success, you’ll have to plan and prepare. No, not a few days ahead of time, but perhaps weeks. Throughout the month of December, there are numerous sales and deals out there. Keep an eye on the circulars. Clip coupons. Get on social networks and find out the prices from friends and family.

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Whatever you do, don’t wait. The longer you wait and the closer you get to Christmas, the more expensive things will get. The law of supply and demand is always in effect. Deals will be in place when they have an abundance of staples. When most people have done their shopping and supplies dwindle, they get more expensive.

3) Make Your Own Stuff

It may seem tempting to buy pre-made stuff, like appetizers, gravy, and desserts. The reality is, it’s much cheaper to make your own. And it will most likely taste better too. Homemade desserts are the best and they make your home smell wonderful. That’s great for getting into the Christmas spirit!

4) Buy Fresh Fruits and Veggies

This sort of goes along with point #3. The rule of budget shopping involves you buying and cutting fresh foods yourself. If you buy a packaged fruit plate, already cut, it’s going to be more expensive. You’re also paying for the labor. Also, don’t buy pre-packaged frozen veggies. Flavor is a factor, but so is the price. The ‘convenience factor’ often makes them more expensive.

5) Potluck Anyone?

Usually, on Christmas, the host makes a dinner. It’s a similar tradition to Thanksgiving. Thankfully, people love to contribute. There’s no foul in asking others to bring a dish to pass. You know those who wouldn’t mind doing so. Asking for help isn’t a bad thing to do. Maybe even sharing the fiscal responsibility with a sibling or parent who can chip in.

6) BYOB

If you don’t feel comfortable asking others to bring a dish to pass, what about beverages? It’s one less expense you’re worried about if someone else can supply the beverages. In fact, multiple guests can bring something. Wine, soda, milk, beer, or whatever the family enjoys. This can be a large expense that’s taken care of by others.

7) Do Something Different

There are times when a host gets sick of always having ham or turkey for a holiday dinner. This Christmas, why not consider something a bit riskier? Like, how about taco night? BBQ? Perhaps there’s another protein undergoing a major price drop and you grab that instead? Don’t be afraid to color outside the lines if you need to.

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How Debt and Money Problems Often Lead to Divorce

Written by adminDecember 12, 2018
Credit & Debt Settlement

Do you regularly fight with your spouse or significant other about money? If so, you aren’t alone. Of all the stressors that can often pop up in a relationship, money is usually the worst. In fact, a survey conducted by SunTrust bank found that money problems were the number one cause of friction within marriage. Debt is a major factor that leads to divorce, including student debt.

A lot of it has to do with how much money impacts our everyday lives. When there are money problems, it makes life more difficult, no matter who you are. The strain can be too much to bear, even if you’re single. Throw in a marriage and kids and you will start to see the stress levels soar tremendously.

If student loan debt is ruining your life (and your relationships) give Financial Helpers a call. We’d love to talk with you about your options. You can reach us at:

Call Now 844-332-2079

Spenders vs. Savers

The tension seen in relationships over financial issues actually comes from each partner having a different view of money. It’s especially true when a couple is new to the whole marriage dynamic. Most of us, unless we marry super young, are used to living more freely and not having to pay super close attention to the budget.

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Once the ring goes on that finger, suddenly you’re budgeting for two, then three or more people if you have kids. That’s added strain and responsibility without addressing the fact that you need to budget your money better. Once you buy the house and upgrade the car, that’s more payments and higher debt.

The Debt Problem

80% of Americans are currently in debt. That’s quite the staggering number! What’s even worse is, 1 in 5 people in a relationship claim to hide money from their significant other, or spent at least $500 without telling them. This might explain why more than half of all marriages in the U.S. end in divorce and why money is the leading cause.

Spending is usually the culprit.

The Cost of Divorce

The problem with couples who divorce over money issues is that the act of terminating their marriage is often quite costly and can set them back for a long time to come. There are many benefits to marriage financially and the best option is to always work it out and learn to be honest with each other about money.

Here are some of the costs of divorce:

-You pay less in taxes when you’re married. That means when you’re back to being single, you end up giving away more of your income than if you stayed together.

-Real estate expenses. Rather than two people with two incomes living in a home (which is often manageable), suddenly you have to do it all on your own. It doesn’t matter if you keep the house or are the one who moves out. You now have to pay for living expenses on your own.

-Capital gains. Do you and your partner have investments? You can’t keep them, often slicing into your gains with a capital gains tax.

-Divorce is expensive. It’s even more expensive if the divorce is contested. It can cost as little as a few hundred bucks, but that’s only if things go perfectly. The average cost of a contested divorce in the U.S. is between $15,000 and $30,000 according to Legal Zoom. Most divorce lawyers charge around $75/hour, which can add up quick.

-Self-care. Divorce is a heavily emotional time for families, especially if it involves kids. They can be impacted for the rest of their lives by this, often resulting in counseling to help deal with what they might consider a trauma.

-Insurance. Usually, you can put your whole family on your insurance and pay a single price, but after a divorce, you’re responsible for paying it on your own.

This goes to show that if you and your spouse fight a lot about money, or you plan on getting married soon, you need to have a serious talk about money. Go over ways to save and express your desire to be open and honest about all expenditures. Work out the budget together each month to ensure you’re both on the same page.

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Even Parents Are Struggling to Help Repay Student Loan Debt

Written by adminDecember 11, 2018
Student Loan Consolidation

Student loan debt is such a major problem in our country. Currently, 44 million Americans owe over $1.53 trillion worth of debt. But, it’s not just the students who are struggling under the massive weight. Parents are also burdened after making the decision to help their kids pay for college. It seems like a worthwhile investment until it’s not.

According to the Brookings Institute, 3.4 million parents have taken out what’s called a “Parent PLUS” loan. These loans are designed for parents to help their kids by taking on the cost of college themselves. So far, parents owe $90 billion in student loan debt. It’s hurting parents as much as it would’ve hurt their kids.

The difference is, most parents believed themselves to be in good financial standing beforehand. The current average balance for parents who took out a PLUS loan is $26,000. That’s up from $16,000 in 2014 and $5,200 in 1990. Make no mistake about it, student loan debt is hurting many people and continues to get worse.

If you’re struggling with student loan debt, give Financial Helpers a call. We’d love to talk with you about your options. You can reach us at:

Call Now 844-332-2079

Parental Student Loan Debt

Haydee Cruz is one of those millions of parents who decided to help their child pay for their college education. Cruz claims that when she and her daughter toured Full Sail University in Florida, they fell in love. The decision to pay for college was an easy one. Of course, making $50,000 a year, they didn’t have $160,000 laying around.

So, they got a loan to pay for four years of tuition as well as living expenses. For years came and went and now Cruz finds herself in the middle of a battle. Her student loan debt bill costs her $600 a month. That price barely covers the interest. According to Cruz, thanks to interest and fees, the debt has ballooned to over $200,000.

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This is where it gets even tougher. Cruz believes that she will be 85 by the time the debt is paid off. The student loan debt won’t allow her the ability to save for college. Every extra bit she gets goes right into the loan to keep it active. At 63, Cruz will most likely spend the rest of her life paying back this student loan debt.

“I have nothing that is going to sustain me if I stop working,” Cruz said. “This loan governs my life.”

College Tuition Continues Rising

It might seem like as simple solution for parents not to intervene. Of course, a parent wants to ensure their child is set up for a great life. They’ll do anything to help, even at their own expense. But as the cost of a college education gets increasingly expensive, parents have no choice.

There are limits to the amount of money a student is allowed to borrow. Because they are hitting that limit more often, parents are stepping up to fill the void. It’s hurting them financially. It’s strapping them for a decade or longer. Five years into repayment of student loan debt, only a third of it is complete.

“We shouldn’t force parents to make a choice between sending their kids to college and taking out a loan they can’t afford,” he said.

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Is Your Budget Sapping Your Christmas Spirit? Here are 6 Ways to Save Money During the Holidays

Written by adminDecember 10, 2018
Saving

The holiday season is a favorite time of year for a lot of people. The lights, the decorations, the food, and family gatherings. It’s a great time, but underneath every smiling face and ugly Christmas sweater is a lot of stress. The pressure to get it right and keep up with chaotic schedules can be too much.

According to a survey, 31% of the country describes the Christmas season as ‘frantic’. 41% say they work way too hard to create a ‘perfect Christmas’. A survey conducted by NBC News found that 45% of Americans would rather skip the season altogether. There’s a lot of social and financial pressure that comes with the holiday season.

In total, around 47% of people feel a sense of ‘dread’ when they think about the amount of money they might spend. And if you’ve been spending any time with us, you know budgets are short. Millennials are especially in a tight spot when it comes to Christmas celebrations.

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A lot of people often spend way more than they can afford on Christmas. They’re not afraid to take out loans and max out credit cards. Rather than wrecking your brain with holiday stress, there are several ways you can relax. You can survive Christmas if you plan it outright. Let’s look at 10 ways you can save money:

1) Create a Spending Limit

Listen, you know what you can afford and what you can’t. I know, you have a lot of family and friends to buy gifts for. But there’s no reason to go into debt or to destroy your budget. The way around that is to actually look at your budget and designate exactly how much you can spend. And don’t a penny more!

2) Create a List and Check It Twice

After you’ve decided how much money you’re going to spend, create a list. Write down all the loved ones, friends, co-workers, and anyone else. Then, budget out your money. Decide who gets what amount. It’s also important to keep in mind that maybe not everyone gets a Christmas gift this year. They’ll completely understand if you’ve had a rough year.

3) Use Cash

Another trick to prevent you from overspending is to use cash only. Once you’ve decided your budget, pull that amount out of your account. Once the cash is gone, that’s it. So is your Christmas budget. Put away the credit cards and save yourself the hassle and stress that will come the following month.

4) Buy Christmas Gifts Early

One downfall about everyone buying gifts online is the time it takes for those items to ship. Are you afraid you might not get something on time? That can force a person to pay extra to expedite the item. Save money by buying early!

5) Go About Christmas Differently

If you don’t have the money for a bunch of expensive gifts, that’s fine! Maybe you have some money to bake a bunch of Christmas cookies and hand those out instead. Hey, they’ve always said the way to a person’s heart is through their stomach. Consider making a special Christmas breakfast. It’s the thought that counts!

6) Teach Different Christmas Traditions

Kids really get spoiled throughout the year. Most of the toys they want will become theirs. We spoil them on their birthdays as well. Make the holidays about something else. Sure, you can still get them presents, but in a month, they’ll forget all about them. Why not do a cheap Christmas and do something else instead? Find a way to serve the community. Teach the importance of giving!

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