5 Money Saving Tips To Budget For The Holidays And Everyday Of Your Life


Tips On Holiday Spending

Tips On Saving Money For The Holidays


Saving money is always a brilliant and magnificent idea. Money for those unexpected emergencies can come in handy when we least expect it. So why spend all your discretionary income on an unnecessary thing.

Of course, we want the latest gadgets, the fanciest clothes, and those beautiful shiny trinkets, but we can buy those same items for less at the appropriate time with an accurate financial plan. Get ready to try some new ideas to fit what's best for your individual financial situations.
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Make a budget and stick to it, set limitations on your spending, shop early and continue to strive to put yourself in the best financial situation you can.

 After all, a budget is just a plan which may sound a little like music to your ears when it comes to the other dreaded B word call Bankruptcy; therefore, it is better to make your plan and enjoy the benefits of your savings, later.

1- BUDGET EXAMINATION: 

  • How much money do you have after taxes - Disposable Income
  • How much money do you have after paying for your food, house payment, utilities? - Discretionary Income
  You must set limits on the things you buy, in order to increase your savings for purchases; such as, Christmas, retirement, and buying a house or car in the future.  You don't want to spend every penny of your discretionary income, just in case an emergency erupted it's ugly little head into your life. For example, the unanticipated flat tire, broken refrigerator, or the loss of a job.

Things happen sometimes and you may not be fully prepared, but at least make sure you have a nest egg for those unforeseen events. Make a plan about how much you will spend and stick with it.

The good news is you will reap the rewards of having extra money for Christmas shopping, a down payment on a car, or that special item which is not frivolous, but desired.

Money Saving Tips for the holidays
       

2- WAYS TO SET LIMITS ON YOUR SPENDING HABITS: 

  • Make a budget
  • Don't make unnecessary purchases on a credit card that you can't fully pay off when the bill come. If it's a necessity that's different, but not frivolous things. Remember what you purchase on a credit card, the bill still has to be paid. It's not free money!

3- THE EARLY BIRD CATCHES THE WORM:

  • Start shopping for Christmas in August, when you can purchase a little at a time that fits your budget.
  • You can even catch after Christmas sales for great deals, for your children or grandchildren  birthday  that's coming up in the next few months.
  • Buy your Christmas Decorations for the Next Christmas a couple days after this Christmas. That goes for any holiday!

4- MAKE SURE WHAT YOU ARE BUYING IS BENEFICIAL 

  • Can you use it enough times to be worth the cost?
  • Does it help solve a problem that you need help with?
  • Is it something you'll use a couple of months and then get tired of?
  • Does the benefit out-way the cost of the purchase?
MAKE SURE WHAT YOU ARE BUYING IS BENEFICIAL 


5-TIPS FOR THE HOLIDAY SEASON

  • Make your gift
  • Price match on-line to save gas, money, and time!
  • Give a a gift that can be beneficial in the long-run; such as a savings bond. After all that can help teach your child or family member about the value of money.
  • Draw names so you want have the extra strain of having to buy too many gifts. We don't want you depressed when the credit cards bill starts to roll in. Is it worth it, to be in distress for something that may be torn up in a couple months. Yes, buy what you can, but budget and look for sales. Believe me you can have things just as great as people that go out and make those huge debt bills.
  • Use rewards and loyalty points
  • Open a Christmas savings plan
  • Use Promotional Codes- You can find them on-line or sign up for emails where they send you coupons.
Now that you know some money saving tips to budget your holidays and everyday life, get busy saving some discretionary income and have a blessed day!!

Inveigle Magazine | Tone And Glamour

Comments

  1. Thanks for the tips and sharing your inputs about it, Can you also make an article about How to have multiple stream of passive income please. Thank you and please continue writing articles, your articles are really informative and helpful.

    ReplyDelete
    Replies
    1. Thank you very much for the compliment Theresa!! An article on that topic will be coming to Inveigle Magazine.

      Delete

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