Even though they can sneak up on us, the holidays are at the same time each and every year. When you think about it, this makes planning and budgeting easier, and now is the time to start!
Before you run out and buy something for everyone on your list, practice Finley Alexander Wealth Management's Three C's for the Holidays:
- Clarity - what cash is coming in and going out each month? What's your budget per person?
- Clean Up Spending - we all have services we're paying for that we're not using, or areas we can cut back on.
- Cash In - once you've identified things you're paying for and not using, cancel them and reallocate that money towards your holiday spending or other savings!
After you know where the money is coming from, consider making a list of who to give to and what they give them, rather than just going shopping and hoping for the best.
If you're using credit cards this holiday, make sure to research the rewards associated with the card and use them to your advantage.
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