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Stay out of debt this holiday season

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Gift giving lists can be someone’s worse nightmare, especially if living paycheck to paycheck. Saving money this time of year is sometimes not possible. Just because you are on a tight budget there is no need to go broke and in debt during the holiday season. suggests consumers make a list of that they need to buy, a list of what they can afford to spend and find ways to save money when completing holiday shopping.

Here are some tips to help you and your family reduce your expenses and help save you money during the holidays.

  • Set a rule to buy everything in cash this year. This will save on interest costs and prevent you from overspending.
  • Make a list of everyone you have to buy for. Cut out those who either do not return gifts to you or you are not going to see.
  • Create an overall budget. This amount is how much you can afford to spend on everyone, including gifts, entertaining and food during the holidays.
  • Set a limit as to how much you will spend on each person on your list. Stick to that dollar amount.
  • Skip mailing Christmas cards and send e-cards to friends and relatives.
  • Pay credit cards off in full. If you have to use a credit card, pay it off 100 percent when the bill arrives and pay it on time.

If you would like more information about insurance coverage during the Thanksgiving holiday contact Maurice Taylor Insurance.

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