How To Have A Debt Free Christmas

This is a paid endorsement for World Financial Group, however, all opinions are my own.

Christmas is a bittersweet time of year for me.  I mean, I LOVE Christmas it is the best time of year.  It put everyone in the mood to give.  It also reminds you of the loved ones that you’ve lost.  For me, it’s my grandmother.  I miss her terribly during the holidays.  With all the emotions, it is very easy to get overwhelmed and spend more than you can afford at Christmas time.

In fact, on average Americans overspend by $1000 every year at Christmas time. In some cases, they haven’t even paid off the debt from the previous Christmas when the next Christmas rolls around. But it doesn’t have to be that way. Christmas doesn’t have to break the bank; it can be a way to build wealth and your financial legacy.  Here are a few tips I have for a debt free Christmas with resources from World Financial Group.

 

Set a Budget for Each Person

Before you get started on your Christmas present shopping set a budget for every member of your family that you’re shopping for and stick by it! Make a list of every person you’re buying for and how close they are to you. It’s ok not to buy presents for people! Focus on the people who live in your house first. When it comes to shopping for kids don’t feel like you must get them a dozen different things. A few slightly more expensive gifts are better than a ton of cheap ones.

 

Give Legacy Gifts

Before you head out into the world to do your Christmas present shopping think about how you can protect your loved ones and legacy with wealth-building options.  Consider talking to a licensed agent at World Financial Group to discuss ways to lead you and your family to a lifetime of financial security by opening a savings account for your child or purchasing a life insurance policy or annuity.

 

Don’t Be Afraid to Say No

Christmas is that time of year when everyone is asking for something. It might be the bell ringer outside the grocery store, or it might be your best friend wanting to go out for drinks for the third week in a row. The important thing to remember is that you can say no! You can even say that it just isn’t in your budget. Saying no can allow you to invest a little more in your retirement as a gift to yourself and your financial wellbeing.

My final tip won’t help you at all with this Christmas, instead, it will help you look ahead to the next Christmas. World Financial Group offers financial strategies services that includes a financial needs analysis, financial goal setting, and strategies to help you pursue those goals.  Gift yourself by reaching out to a licensed agent at World Financial Group and arrive at Christmas next year with $1500 saved up! That’s not to say you must spend all $1500 though.  However, you will feel better about your efforts to building a better financial future and Christmas shopping will be less stressful.