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Here somes the silly season
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Photo: Business Wire
Thanksgiving dinner. Christmas presents. Stuff to do the holiday baking. Stocking stuffers. Decorations, interior and exterior and the increased power bills they bring. Fuel for shopping. Snacks at the mall. Cards and postage. Gifts for co-workers. Contributions to at least some of the charities that need help this time of the year.
If you start thinking about all the expenses this season brings, it will make probably bring on a full blown panic attack. You were going to find a way during the year to set money aside and not have to worry about this Christmas. Except you didn’t because the kids needed glasses, the car needed a windshield, the dishwasher flooded the kitchen or any of about a million and one expenses popped up like they always do. So now you’re staring down the barrel of another holiday season and your bank balance is no where near ready to deal. So how do you survive another Christmas?
Don’t whip out the plastic. Don’t use the credit cards! It is too easy, when the canned carols are playing and the kids are tugging you excitedly towards Santa’s willing lap and the fudge is calling and the lights on the roofline are out again, to lay that credit card down and buy whatever it is that’s beckoning you. After all, it’s Christmas, it’s the season, and you’ll deal with it in January when the bill comes. Except you won’t, because you can’t. If you can’t pay off your balance now, how are you going to do it in January? Unless Santa is bringing you a loaded armored car for Christmas, you won’t have any more money next year than you do now. You’ll just have more debt, more guilt, more weight and less resolve .Don’t get overwhelmed by your own gift list. Tell your friends and family (if they don’t already know) that your financial situation will not allow the same level of gift giving as in years past. The sun will come up on December 26th whether you give loads of gifts to everybody under the sun, or just a couple to your kids. People who love you will be eager to help you stay out of debt and will be proud of your efforts to gain control of your finances. They will understand and support you. And despite what they may say, your kids will not suffer lifelong trauma if they don’t get that pony. I didn’t.
Cut back or even eliminate completely things that are not necessary to celebrate. Truthfully, do you really need to do all that baking and candy making? There will be plenty of goodies around. Do you need the added expense not to mention the added calories? Pick one or two family favorites and leave everything else until you can afford it.
Above all, stay calm. We’ll talk in detail about some of these ideas later. But for now don’t get swept up in the madness of the season, don’t let the ‘live now, pay later’ thoughts invade your brain. You’ll get through it, and you’ll do it with style and flair!
