How to Manage Money and Make it Grow

Info at Info

The 12 Debts of Christmas Part One

Oh the weather outside is frightful

But the fire is so delightful

My credit card is maxed out so

Let it Grow! Let it Grow! Let it Grow!

Tis the Season for too much spending

And there’s just no comprehending

How will I pay my bills next year?

Let em Grow! Let em Grow! Let em Grow!

My debt is as deep as the snow

Oh what a terrible fright

And I know it will continue to grow

How will I sleep through the night?

Now the presents have all been given

To the poor house I have been driven

And my credit scores are way down low

Help it Grow! Help it Grow! Help it Grow!

How to Manage Money and Make it Grow

The holidays are just around the corner and you have two things on your mind. How am I going to avoid the in-laws as much as possible and how am I going to be able to afford this come January? Over the next couple of weeks I am going to go over 12 tips for holiday debt relief. Each one will teach you little by little how to manage money and make this new year a debt free one!

HOLIDAY DEBT TIP 1: Don’t Add More Debt

Did you know that every $50 you add to your credit card balance will add another month to the time you will be able to pay it off? Don’t worry, Christmas isn’t cancelled! You don’t have to tell the kids that Santa isn’t coming this year. You do however, have to keep an eye on your budget. Now is the time to really sit down and crunch the numbers. Decide what you must have and what you can afford to lose. Do you really need a stocking stuffer for the dog or a brand new outfit to show off for Christmas day? Decide on what is really important and what can be missed. You will surprise yourself with how much you can actually save. Christmas is a great time to learn how to manage money.

HOLIDAY DEBT TIP 2: Make a List and Check it Twice

It may be easy to overlook your finances during this busy holiday time but you can’t forget the big picture. It’s time to set goals and stick with them.

Goal #1: Start an Emergency Fund – Any amount helps. Even if you can you spare $10 or $25 a week it’s time to start now and it will help. The goal is to have at least $1000 saved up and the sooner the better.

Goal #2: Start Debt Stacking – You’re credit card bills are probably starting to role in right about now. This is the perfect time to start snowballing your debt. Check my previous posts for debt stacking tips.

Goal #3: Cut the Cost of Living – There are all sorts of ways to cut your expenses. Turn down the heat a couple degrees when you are at work or when you go to bed. Turn off any lights when you aren’t in a room. Check any windows or door ways where hot air may be escaping and seal it up. The amount of money you will save will amaze you.

Goal #4: Clip Coupons – Every store wants your business. Look online or in the newspaper for deals. The more time you spend shopping around for those amazing bargains the more money you will save with your holiday purchases.

Try creating six other goals for yourself. If you don’t know the answer, there are some resources on this blog that can help. If you have some questions let me know and I will try to help!

For my next post there will be another delightful song you can break out around the dinner table with family and friends and a couple more tips on how to manage money and remain debt free this holiday season!

DID YOU LIKE THIS ARTICLE? SHARE IT WITH FRIENDS!

Be Sociable, Share!