How to Avoid Debt at Christmas

[pioneer]

reposted from a PLR article

There are ways that you can avoid debt at Christmas.

1. Open up a 'Christmas Fund'. First of all, draw up your personal budget - list all your outgoings, from your mortgage/rent to insurance to petrol costs, including food, clothing, savings etc. This will show you exactly how much money you have left over each month. Put aside a percentage of this into a high interest instant access account and call this your 'Christmas Fund'. Whether you are the type of person who buys presents throughout the year or at the last minute, only buy if you have the money sitting there in the account Plus, you'll have more to spend as you will be earning interest on your savings!

2. In the shops you will see lots of special offers for credit - for example: 'Buy Now, Pay June!' - don't be tempted unless you already have the money there and you are strong willed enough to leave it in your account until payment is due

3. When buying presents, try not to shop in November or December - this is the time that shops actually over-inflate their prices! Buy during the sales throughout the year. Also, look out for supermarket and shopping catalogue Christmas Savings Schemes.

[chicogon]

[Lorenzo]

Tinuod bitaw ka Mike, don't be fooled by these creditors. Why buy something in credit? If you have the money for it, buy it in cash. If you don't have it , don't buy it. Simple.

If you want that expensive 60 inch plasma screen tv, and you have $3,000 in cash to buy it or if you have it in your debit card, then palita if gusto ka. Pero, using one's credit card to buy something worth $3,000 and then be charged a % of the original cost for using the card is unpractical. Not to mention very financially wasteful.

[islander]

i've been patting myself in the back for not owning a credit card or, in those times when the banana republic gives me one, for not ever using it. 

[chicogon]

Just close your eyes and take whatever embarrassment you think it will bring you hehehe...

[hubag bohol]

Salamat nga way nag-expect nga akong hatagan og Christmas gift...