It’s a fantastic time of year when we travel, see friends, visit family, spread some good old cheer and of course, overspend on gifts.
And so why do people overspend?
They overspend because they have no control over their money during the prior 11 months of the year.
They overspend because they’ve no real financial discipline in place.
They overspend because they’ve formed bad habits from years and years of poor decision making.
They overspend because they live month to month and have no meaningful and lasting relationship with their money.
They overspend because they think they have to and will worry about paying it off next year.
They overspend because they have never had any real money management education.
They think that putting their overspending on credit cards will make it all go away, which it will – at least until later in January when the credit card bills start arriving!
In the UK alone, in what is considered a wealthy country, over 16 million people have less than £100 in any form of savings. A surprising 45% of those earn over £30,000 per year giving them the ability to clear their debt and then save. It’s not rocket science really, so take it easy this Christmas and only buy what you can afford.
You’re at the mall and surrounded by shelf upon shelf of Christmas cheer. Everywhere you look there are hot chocolate-filled mugs, Rudolph-themed dog clothes and evergreen-scented candles. It makes you happy and you want it all.
Christmas shopping is so much fun because you get to buy for the people (and pets) you love! But that doesn’t mean you should spend with abandon. That’s a recipe for impulse buying and overspending which = debt and disaster……..
So how do you look past those distractions and get what you originally went for? Here are six smart ways to enjoy the shopping season without paying for it later.