Prepare your finances for the holidays | On your debt

Truth: The holiday season is expensive, and it will be here soon.

With interest rates and inflation rising, this could be the most expensive year ever. With the gifts, decorations, and other seasonal purchases you expect to make, you might be surprised how easily holiday spending can spiral out of control. Start planning your vacation now.

Establish a vacation budget, well before the vacation.

Decide how much money you can afford to spend in total. Write it down and, most importantly, stick to the plan as the season progresses. It’s easy to get caught up in the holiday spirit or caught off guard with last-minute purchases. Budgeting ahead of time will help you determine how much money you can spend on each expense category, including gifts, food, entertainment, and other holiday festivities.

Be careful when spending on your credit cards.

Before you sit down to plan your vacation spending, make a list of how much debt you already have on your credit cards. Set a strict limit on the amount of credit you will use throughout the season and be firm about spending no more than you can reasonably repay. Next year’s vacation is coming quickly, so have a plan to pay off any vacation debt as soon as possible.

Save now—Spend later.

Find a way to easily set aside a few dollars from every paycheck, whether monthly, semi-monthly, or weekly, and make sure the money goes directly to a separate place or savings account. Bring your lunch to work once a week and put what you would have spent in an envelope marked “Vacation”. At $15 a week, you’ll have saved $750 to use for your vacation expenses over the course of a year.

Make your travel plans as early as possible.

If you’re one of the more than 115 million Americans who travel during the holidays, you probably already know that booking flights, renting a car, and paying for gas or other travel expenses can be a hassle. quickly add up. Airlines, train stations, hotels, and other travel industry players tend to charge higher fares during holidays, and those prices only increase as the end of the season approaches. year.

Eliminate unnecessary holiday stress

The holidays are stressful enough without the added pressure of carrying debt or taking on more debt. However, if you find yourself facing a mountain of debt that you will never be able to repay, call us so that we can help you! Give yourself the holiday gift of being debt free.

Bond & Botes helps people struggling with debt

Let us solve your financial problems. There’s no obligation, and that means there’s no downside to gathering the information you need to make good decisions about how to break the cycle of debt stress and go forward. We can answer all of your questions regarding Chapter 7 bankruptcy, Chapter 13 bankruptcy, stopping a foreclosure or wage garnishment, avoiding liens, staying a lawsuit, l medical debt, personal loans, payday loans, credit card debt, etc. We can relieve your stress! We want to help you and we can help you!

Bond, Botes, Sykstus, Tanner & McNutt, PC

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