Give The Gift Of New Financial Goals

The holidays are just around the corner and we all are hoping to provide our families with great gifts at an affordable price. As one of the most expensive holidays of the year, many families over extend themselves at Christmas. However, there is no reason we have to get further into credit card debt this holiday season. Following a few simple tricks can keep us financially healthy as we go into a new year.

The Gift That Keeps On Giving

Before you think about charging those gifts on your credit card this year, consider paying in cash or using old gift cards to purchase your gifts. Many of us have extra cash laying around that we don’t even think about using when it comes to buying gifts. Use spare change or that gift card from last year to fund some of your purchases.

If you don’t have expendable cash this year, consider revising your budget to accommodate holiday purchases. Take a temporary break from your debt reduction plan by paying only minimum balances for the month of December. Use that extra money to buy your gifts in cash. However, remember to return to your debt management plan right after the holidays are over.

For families that don’t have debt management plans or are struggling to make their debt payments, consider purchasing them a gift certificate to a credit counseling agency. These companies offer great tools and resources to teach the skills needed to stick to a budget and get out of debt. The best gift you can give your family is the gift of staying out of debt or getting on the path to financial freedom.