Ringing In The New Year Without Financial Burdens

Just because money is tight does not mean that you cannot have a great holiday season.  In fact, you may find that once you release yourself from the stress and pressure of buying expensive gifts, you actually enjoy the holidays more!  Here are some tips to help you stretch your budget during the holidays and beyond so that you can face the New Year without adding to your financial burdens.

• Seek cheaper travel options. Flying is expensive; so is driving if you are going long distances.  Why not seek cheap travel options like the bus or, in some cases, local train service?  You might be surprised at how cheap it can be to travel this way during the holiday season, especially if you have a large family.
• Have a “Secret Santa” gift exchange. Once the children are older, there is no need to go into debt to buy expensive gifts for each of them.  Have everyone in the family draw names and buy for only one person.  You can put more time and thought into the gift and enjoy your holiday without stressing over numerous presents and wrappings.  For small children, agree to buy “stocking stuffers” only and let one adult choose and give a large gift.
• Host a potluck family dinner. Many people already have relatives bringing food on the holidays to enjoy for dinner; why not make the whole meal potluck?  All the participating families can chip in for the main meat dish, which one person will buy and prepare, then each family can bring a side dish.  You will have a delicious buffet at relatively little cost to each of you.
• Avoid buying alcohol. One of the biggest expenses for many during the holidays is alcohol.  Agree that any parties will be BYOB to avoid this expense, or have everyone bring a certain amount of alcohol to a party and share with others.
• Gift yourself some debt relief. You and your spouse could agree to take the money you would have spent on presents and fund an emergency savings account or pay off a small bill.  You will both feel better and less stressed during the holidays if you do this!

  If you are facing insurmountable bills, talk to the bankruptcy attorneys at Oswalt Law Group in Phoenix.  We can help you determine the best way to handle your debt.