How to Manage Money and Deal with Christmas Debt

The 12 Debts of Christmas Part Five

Silent night, Holy night!

I am broke, what a joke

I spent way more than I had planned

On my friends and my uncle Stan

When will this debt end?

When will this debt end?

Silent night, Holy night!

My money’s gone, all cash withdrawn

I don’t understand where it all went

I spent it all down to my last cent

When will this debt end?

When will this debt end?

Silent night, Holy night!

My bank called, my credit’s stalled

I was told my home foreclosed

It sure feels like I’ve been hosed

When will this debt end?

When will this debt end?

Silent night, Holy night!

The bank guard, took my Mastercard

I think money’s a guessing game

All of these bills will drive me insane

When will this debt end?

When will this debt end?

How to Manage Money and Deal with Christmas Debt

Money doesn’t grow on Christmas trees. That’s a fact. If it did, we would all spend like crazy this time of the year and probably spoil ourselves and everyone around us even more. Here are a few tips to show you how to manage money this holiday season.

HOLIDAY DEBT TIP 9: Create a Debt Free Resolution

The Holidays are all about creating resolutions and sticking with them. More often then not we break them by the second week of January. Here’s the exciting part about creating resolutions for the new year. You are already three weeks into your resolution! You have made some realistic goals and followed through with them. You have started to save money for your emergency fund. You have started to snowball your credit card debts. You have even started to shop more frivolously.

Here’s what you need to do now. Create more of your own financial goals for the new year. What do you want? Do you want a to have all of your credit cards balance to zero next year or do you want to wipe out your student loan? The choice is yours and you can do it. You have already started so keep the momentum going! Remember what you have learned with debt stacking and apply it to your financial resolutions. You know how to manage money.

HOLIDAY DEBT TIP 10: Don’t Ignore The Bills

Try as you might those holiday bills are not going away and you can’t just forget about them. The longer you wait to pay them, the more interest they will accumulate and the more they will tarnish your credit rating. Rather than ignore those holiday bills put them front and center. Do what you have to do to get them paid. The worst thing that could happen is to have creditors ringing the phone off the hook or knocking on your door come January. Take care of the issue now so you can rest easy during the holidays.

For my next post there will be yet another wonderful song you can sing around the dinner table with family and friends and my last two holiday debt tips on how to manage money and remain debt free this holiday season and in the new year!

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Tagged with: how to manage money • how to manage money tips • manage my money • personal finance basics • personal finance help

Filed under: Debt Settlement

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