Stay out of debt at Christmas

Do you want to learn to stay out of debt at Christmas? If you have not been saving for Christmas gifts throughout the year, then you will probably reach for the plastic (credit card) and charge the gifts you plan on giving.

However, if at the beginning of the year you determined the total amount of money you wanted to spend for Christmas gifts and you divided that amount by the number of paychecks you get and then saved that amount, you would have the whole amount tucked away safely in your bank. Then when Christmas time rolled around, you can use the money you saved and pay for your gifts without incurring any debt.

Also, if you saved the money in a savings account, you most likely would have earned some interest on the money you saved. Remember that compound interest is your friend when you save.

Check out a couple of other posts dealing with consumption and interest.



More Posts

Desire Wealth

Desire Wealth

Are you captivated by the idea of material success and financial security? While it’s a natural desire, the pursuit of wealth can lead to destruction, as warned in 1 Timothy 6:9.

Money Management Made Simple: The Ultimate Guide for Young Adults

Money Management Made Simple

Image via Pexels As young adults, we’re entering an exciting but challenging phase of achieving financial independence. Our wallets, credit scores, and overall well-being should

Enhance Your Retirement Finances Smart Tactics for Seniors

Enhance Your Retirement Finances

Image: Freepik Enhance Your Retirement Finances: Smart Tactics for Seniors Seniors, do you want to enhance your retirement? Then, read the below article: Embarking on

Safeguarding Seniors

Safeguarding Seniors

In a world where financial exploitation of seniors is increasingly prevalent, empowering this vulnerable group with

Send Us A Message