What Drives Your Holiday Spending?

In the first half of Wealthy Radio the phone lines were open for our What Would Deborah Do! segment. Do you allow the stress of family expectations to cause you to overspend during the holidays? I took  calls, questions and shared tips on how you can stay in the black and not go in the red over the holidays.

christmas_stress_shoppingWe’re just coming off of Black Friday, and oddly enough the spending numbers are down. According to InfoScout.com, consumers spent less and stayed home with online sales outpacing brick and mortar.

What are your strategies for staying in the black during this holiday season?

In My recent blog at Deborahowens.com, I shared these tips.

 

Set expectations for your children.

Have a frank discussion about what you can afford in the family budget.
Have the name of one family member name and put a limit on the cost of the gift. Make sure it fits the budget of everyone in the family.

Start a Christmas Fund.

Establish a Christmas saving fund at your bank this month and set up an automatic withdrawal so that next year the funds will be available.

 

Our audience shares their strategies as well. Take a listen

 

 

 

What strategies will you employ to keep your own balance sheet in the black this Christmas?

Leave your comments below.

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