We tend to put financial pressure on ourselves to make up for our divorce or separation by overindulging in purchasing Christmas gifts for our loved ones that are way beyond our budget.
Here are some secrets we can share with you to help curb your overspending this holiday season:
- Create a holiday budget to include:
- Travel expenses, including gas, hotel and airfare
- Special food cost
- Gifts for family and friends
- Other expenses that only occur during this time of the year
- Find creative ways to trim the budget
- Create homemade DIY gifts
- Do you HAVE to buy a gift for your 3rd cousin? Trim your recipient list
- Utilize free shipping when able
- If buying online, put gifts in your shopping cart, and wait for 48 hrs. before purchasing them
- Buy gifts throughout the year to help your finances from tanking during the holidays
- No matter what happens – DON’T OVERSPEND – come summer, you will regret that you are still trying to pay your holiday debt off
Remember: The holidays are about making memories; gifts are soon forgotten, but memories can span a lifetime!
The Collaborative Practice of San Diego is a nonprofit, multi-disciplinary referral network of independent professionals of attorneys, mental health professionals and financial advisors working together to learn, practice, and promote Collaborative processes for problem solving and the peaceful resolution of family law issues in regard to co-parenting, with an eye toward preserving the emotional, as well as the financial assets of the family.
Contact us today to learn how to make the most of your holiday budget!
Note: This information is general in nature and should not be construed as legal/financial/tax/or medical advice. You should work with your attorney, financial, medical or tax professional to determine what will work best for your situation.