Create Your Holiday, Your Way
Spending Consciously this Holiday Season
Thanksgiving has come and gone and the holiday season is now underway.
During this time of year many people have a tendency to overspend, exceeding
what they can reasonably afford.
This can be a time of year when expectations run high and emotions ramp up and if you if you aren’t aware and prepared, you can get caught up in the energy of the season and end up spending a lot more than you intended to.
1. S-Spending Patterns - take a look at what you’ve spent in past years. This can be an eye opening exercise and give you a realistic estimate of what to expect this year.
2. M - Make a holiday spending plan – List the main categories of spending and set limits for what you’ll spend this year.
3. A - Adopt a Cash Only Policy - Give your credit cards a Holiday! Once you create your spending plan and set your spending limits, adopt a cash only policy. Make a decision to purchase items using only cash or debit cards. Decide on a percentage of your total spending or a total amount that you will purchase with cash.
4. R - Reduce your Spending - Find ways to cut down on spending
5. T – Tell Your Family and Friends - make sure you clearly communicate with your family and friends. If you are used to participating in gift exchanges and you’ve decided to make changes in your level of spending, let your family and friends know so that you aren’t pressured into making last minute, impulse purchases that you haven’t planned for.
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Coach Estelle is a CPA, speaker, author and ICF Certified coach who helps women break free from fear, confusion and dependency with money by empowering them to transform their money story, learn powerful money strategies , discover their gifts, talents and life purpose and create actions plans so they can Create the Life and Business of Their Dreams! |
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