The Holidays are here, and it’s a tough time for the fitness world. On one side, the mouths of many are watering at all the tasty family foods flying around. On the other, pressure to be a Holiday hero is running high. Here’s how to make it through this holiday season with your financial integrity intact.
Pay cashPost-Holiday interest charges are about as fun as weighing in after Thanksgiving. You can't have regrets in January if you limit your spending to money you actually have. The tab for unpaid credit card balances in the U.S. is $690 billion.
PrioritizeIt takes a plan to make it through this season unscathed physically and financially. Here's a three-step strategy: Set a spending limit, stick to a firm list of recipients and most important, no wavering from steps 1 and 2.
Spending Limit Rules:
· No dipping into savings (unless it was designated for Christmas)
· No cheating by not making your Roth IRA deposit this month
· No skipping the kid's 529 College savings contribution
Don't get playedRetailers know we are suckers for anything that seems like a deal. Instead of offering a $50 sweater for $50, they advertise that the sweater was $75 but they are going to let you steal it from them for $50.
Maintaining financial fitness through the Holiday season isn’t just about feeling guilt free in January. When we stick to the budget, we remove layers of stress and panic. And that makes us happier and more present for those we love. I hope you all have a wonderful time with your families this Holiday season.
The Mint Makes It First, It’s up To You to Make It Last
-Jainie-
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