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 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-Survey Your Spending Patterns - This can be an eye opening activity. If you can't easily capture last year's information, then make it a point to pay attention 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.
Coach Estelle is a CPA, TED Speaker, Author and ICF Certified coach. She helps women, couples and entrepreneurs go from financial overwhelm and dependency. By breaking free from fear, confusion and self sabotage with money and learning powerful manifestation and money strategies, her clients and students are able to Create the Life and Business of Their Dreams!