Has December begun and we haven’t started shopping for the holidays yet? Perfect! Thus, we can think about our expenses so as not to collapse in debt in January. A light Christmas for the wallet: it is possible. Follow the guide.
The holidays allow us to get together as a family. And in 2020, these meetings, even in small groups, will be especially valuable. “I think people will realize how lucky we are to be able to visit our loved ones and spend time with them. We know that this privilege can be withdrawn from us overnight, for an indefinite period, ”said Vicky Payeur, creator of the blog Living with less and author of the book of the same title. But seeing fewer people at once doesn’t mean you’ll be giving away fewer gifts! Of course, the ideal would be to save a certain amount every month in anticipation of the many expenses that await us in December, but if we haven’t done so, it is still possible to change our habits to celebrate, the financial mind at peace.
Check Last Year’s Spending
My best bet is to assess his upcoming expenses by looking at last year’s expenses. Gifts, food, accommodation, travel, and alcohol often fill the main expense items, ”suggests Vicki Payeur. In this exercise, financial planner Camille Bourque also suggests: “This comparison allows us to start a serious reflection, to see where we tend to exceed our limits and to have a good idea of the budget that we will need. Then we forecast all of our cash inflows by Christmas. ”
To spend better, the double R rule, “think and delay”, is effective. Curbing our buying impulsiveness prevents unpleasant surprises in January. Delaying a purchase for a few days is often enough to realize that you don’t really need it. Same thing with the sales. “When you buy because it’s on sale, it’s probably not a necessary good!” recalls Camille Bourque. If we see otherwise, there will always be time to come back for him.
This rule also applies to online purchases. You first put the items in the basket, and wait a few days before finalizing the transaction. Buying a gift gives us an adrenaline rush. We want to please, and we have difficulty not succumbing. But when the emotion subsides, we think better and we are more down to earth.
To prevent overflows, it is often advisable to take the agreed amount of cash out of the bank. Watching the tickets disappear makes the shopping experience more real. This year, with health precautions and the incentive to pay by card, we instead transfer the amount in question to a separate account or to a prepaid credit card.
TOO BROKEN THIS YEAR?
“You don’t have to go into debt to give a presentation. You should only give a gift when you can afford it. Isn’t that possible this year? Talk to your loved ones. “This year has been quite difficult financially, I would suggest that…” and find new ways to please, ”suggests Vicky Payeur. Who knows if our proposal will not be welcome if it will not allow everyone to breathe easier. The important thing is to be together. And that is priceless, we all learned it!