Finance and Forex Trading Forum

Anonymous · Guest

Why is it that at the end of the year, generally referred to as "The Holidays," all our financial principles and standards seem to fly right out the window? Many of us spend 10 months of the year saving and investing dutifully, carefully evaluating any purchases, eschewing credit card debt, and monitoring our budgets. Then when November rolls around, suddenly all our good habits go right out the window!

Suddenly spending becomes a completely expected and justifiable occupation. All free time is consumed with spending money-BUYING decorations, BUYING gifts, BUYING special foods and drinks, BUYING cards and knick-knacks, BUYING travel, and BUYING any number of other things that you would hardly even glance twice at, much less spend your hard earned cash on, during any other month of the year.

Sure, most of us need, want, or have to spend more money than usual during November and December. And that's OK to some extent-especially if you plan for it and can afford it. You might need to travel to see family and friends. You may want to send out Christmas cards, purchase gifts, or dole out bonuses to any number of people in your life. You may even be roped into spending events you'd rather avoid-like one too many Secret Santas or Christmas Ornament Exchanges at work, school, or church.

But much of our spending at this time of year is wasteful and can easily be avoided. Do you really need a professional photographer to take your Christmas card photo? Must you buy a gift for all 11 of your closest co-workers? Will your guests truly appreciate (or even notice) that $16 pecan pie-in addition to the four other pies you already bought for Thanksgiving dinner? Does your 2 yr old really need a dozen gifts? Must you buy yet another cocktail dress for this year's Christmas party? Are you even looking at any of the prices during your two month long spending frenzy???

I'm not going to give the same old "set a gift budget and stick to it" advice. I find it difficult if not impossible to project what kind of things I might need to buy during this time of year. But here are a few ideas that might help you out:

Actually look at the price tag

Avoid items marketed for the season

Don't overspend on food.

Buy fewer gifts.

Buy cheaper gifts.

Make compromises with family and friends.

There are lots of ways to save money this season, and so many opportunities to do so. Look at this as the easiest time of year to save! And please leave a comment and share some of your Holiday savings tips.

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