Dave Ramsey on Holiday Shopping – 4 Tips to Celebrate Debt Free
Why Go Into Debt to Celebrate?
If the holidays are supposed to be the happiest time of the year, why does it often seem like the most stressful time of the year?
Financial stress is at the top of many people’s list this time of year.
Many folks just don’t have extra money available to do all the celebrating and shopping they desire. Yet the world puts the pressure on to buy more and keep up with Joneses; even if it means going into debt. Throwing it all on the credit card seems to be the solution.
Although after the New Year, the bills start coming in and the struggle just to pay the minimum payments begin. The struggle to get the debt paid off can go on late into the year or longer. And that only adds to the stress the following holiday season. So instead of planning and enjoying the new season, there still remains the hassle of left-over debt and the stress that goes with it.
Are you ready to end the cycle and say no more debt, no more credit? Then it is time to make a plan early in the year and stick to it so you can avoid piling up mounds of debt on credit cards.
Dave Ramsey provides the following holiday shopping ideas and tips for celebrating debt free this year:
Look for deals online before heading to the stores. Find out what the prices are at the stores you plan to visit and don’t waste your time shopping at one if you know another store down the street has a better deal.
2. MAKE A BUDGET
It’s common sense stuff, but amazing how many people have no financial plan for their spending. And when they go shopping they are like kids in a toy store buying the first flashy toy that catches their eye.
If you plan to work your way out of debt, it requires becoming disciplined during the holiday season. If you must buy for many, keep it simple and stay within your means. Don’t get caught up in the mindset that bigger is better or it will just come back to bite you when the bills start coming in after the new year.
3. USE CASH
As Dave always says, you spend less when you use cash. So stop by the bank or ATM to get your pre-planned amount of shopping cash before you hit the stores. And when it’s gone it’s time to stop shopping.
If you’ve planned ahead and followed the previous two steps then using cash should be easy. You will know what you need to buy and how much it will cost before you start. Planning time well spent!
4. START NOW – PLAN EARLY
If you haven’t made a plan this holiday season, then stop now and take some time to evaluate your situation and make a budget. Look at the big picture and consider the outcome of your choices this holiday season. Shop smart and keep it within your means.
And if this holiday season caught you off guard once again, well remember, it is never too late to try again. Next year you can make better decisions and do things differently.
Happy Holidays to All & a Very Merry Christmas!
God bless you,
P.S. Check out www.daveramsey.com for a wealth of information on finances and budgeting. Dave Ramsey also provides a tool that allows you to create a budget online in 60 seconds.