I hope that the holiday season brings you joy, peace, and lots of cheer. As a consumer and credit repair expert, I understand that it is easy to get wrapped up in the traditional belief that Christmas is all about receiving expensive gifts. This belief system often results in the consequence of mismanaging money by overspending, and accruing hundreds of dollars in credit card debt. The cycle and potential burden of paying back the debt, in addition to juggling daily financial expenses can be surmountable and damaging to your financial well being. I, along with many parents are often faced with the challenge of gifting bigger and bigger each year, to satisfy the growing demands of a spectacular Christmas for “my children”. Let us always remember that this holiday season is truly about giving back, spreading love, and spending quality time with loved ones. Of course it is nice to sit pretty with a Cartier watch. Who wouldn’t love that. However, let’s be realistic with ourselves, and consider how we can truly invest our money to ultimately work for us.
How about purchasing a share of your child’s first Stock in their favorite company? What about depositing money into an investment account for their College Education Savings Fund? These investments cost as little as $50 or below. Are your wheels turning yet? Let’s start 2019 the right way by following a few simple steps to avoid these financial pitfalls of overspending this Holiday Season.
Here are a few options to consider while enjoying your holiday shopping:
-Set a maximum budget and stick to it!
-Avoid the pitfalls of maxing out credit cards on gift purchases.
-Experience the "FREE" opportunity to volunteer your family to serve those in need at a nearby local non-profit, food pantry, or homeless shelter.
-Shop at a local value store for cute stocking stuffers to gift under $10 i.e. (5 Below, Dollar Tree, Family Dollar, and Walmart).
-Opt into starting a holiday tradition of gifting baked cookies to your loved ones.
If you have already spent more than what you planned in your Christmas budget, consider returning some of your items, in exchange for lower ticket purchases from the aforementioned value stores. It is time to do away with the damaging cycle of financial mismanagement and bring back responsible wealth building habits. Your new year will be a more gratifying one if you start to make smarter money management decisions now.
For more information about our financial services or to sign up for our products, please refer to the contact us page via the Project Restoration LLC website.
B. Nicole The Brand
CEO of Project Restoration LLC.