The end of the year is fast approaching which means holidays, parties, family dinners, gift giving, and the temptation to overspend. Instead of spending three months paying for the holiday, devise ways to keep spending low and within budget. No one wants to be in debt, so talk to friends and family members and discuss a few changes in how parties and presents are handled.
Pick a Name
Rather than buying a gift for everyone in a circle of friends, agree to toss names into a hat. Each friend draws one name and that is the person for whom one gift is purchased. Everyone gets a gift, and no one goes into debt. This can also be done in a large family, with coworkers, and within clubs and groups.
Have Pot Luck Parties
Purchasing ingredients, cooking all day, baking for dessert, and providing all the soft drinks, wine, and coffee is expensive and time-consuming. Invite friends and family to a pot luck party. The host provides the main dish and asks guests to bring a side dish, dessert, or dinner rolls with them to share. No one is responsible for the total expense and people get to sample many dishes. To avoid getting six side dishes of green bean casserole, assign a category based on the last name of the guest.
Keep Gifts Simple
Make gifts, buy items in bulk and put together gift baskets, or agree to only get gifts for the children in the family. The most important aspect of the holidays is spending time with loved ones, catching up, and letting people know they are cared about and loved. That can be accomplished without spending any money at all.
What happens when bills come due in January through March and there is not enough money to pay them? Talk to creditors and try to make payment arrangements. This is successful in most cases. If it is necessary to avoid getting the heat or lights shut off, get fast cash from a non-traditional lender, such as Blue Trust Loans. An installment loan will come with high interest rates, but can be paid off over time instead of all at once.