Control Debt This Season….7 Suggestions!!

Posted on November 28, 2009. Filed under: Encouragement/Empowerment |

As we enter this season of giving and celebrating, I started thinking about everyone who hit the malls and retail stores yesterday, most who will dig a financial hole for themselves so that they can make themselves and someone else happy.  I have a goal of helping masses of people achieve their dreams and it is just more difficult with debt.  Debt free 2010 is a goal for myself and for my clients.  I have 7 suggestions that will still allow you to make someone and yourself  happy, but not give you stress come January 2010.

Suggestion #1 Set a budget and stick with it

This allows us to become good stewards of our money.    Having that budget gives us more discriminatory power in our purchasing.  The budget of course should not become so large that it haunts us in February 2010.  Remember, 2010 is our year and we cannot let the things that we do in November, December of 2009 impact the year that we will have in 2010.

Suggestion #2 Sleep on a purchase before you buy

Many times we buy things on impulse and then never use them or the people we give them to end up never using them.  Just because the sale is good does not mean that we must buy it.  Do not buy on impulse.  I have learned that if I decide to think about a purchase overnight then typically the next day I do not want it or I see something else that interests me more.

Suggestion #3 Leave the plastic at home, unless it is a debit card attached to the bank account.

Shopping on credit causes many to dismiss their budget and entertain impulse shopping.  We do not want to become slaves to the credit industry.  Proverbs 22:7(NLT) Just as the rich rule the poor, so the borrower is servant to the lender.

Suggestion #4 Learn the difference between a need and a want

In my opinion a need is the basics of shelter (home, electricity, water etc), food, clothing, transportation (including gas).  If you have the basics of that, then everything else is a want and you can live without it.

Suggestion  #5 Sit down this season and get the plan together for getting out of debt so that you could be free to start investing extra money that you have.
February 2010 should not become a time of nausea because of the purchases made in November/December 2009.  Proverbs 21:20(NLT) The wise have wealth and luxury, but fools spend whatever they get.

Suggestion #6 Find alternatives to individualized gift giving

Alternative 1: Participating in the Secret Santa, Yankee Swap or White Elephant Gift exchange games is a fun and economical way to celebrate the people who we love.  It is great with friends, family members and co-workers and can become a festive event that not only includes the giving of gifts, but music, food (potluck) and laughs.  There are lots of information available on the web and you can also check out:

Alternative 2: Family members can plan as to who will buy a gift for which family member.  This way, each person only buys one gift and everyone is happy.

Alternative 3: Sending out personalized gift cards are another economical way to give this season.  The cost includes stamps for mailing and the cards themselves.  The personalized messages are priceless.

Alternative 4: Making a gift from the heart is also a great way to give this season.  Handmade baskets, ceramics, blankets, jewellery etc are awesome gifts, especially if the person making them is talented.

Suggestion #7  Spend some time feeding and clothing the hungry and the homeless.

This act of kindness will make you so satisfied and happy that it will change your view on the things that are important to you.

These are simple suggestions for us this season but they are so profound in the effect that they will have on us as we head into 2010.  Debt free 2010 is my goal?  Is it yours?

What are some other suggestions that you can think of to make sure that 2010 does not cause nausea and headaches for us all?

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