It feels like the holidays at the Debt Free Guys office. A story we were interviewed for published today! We were so honored to be asked by Cameron with GoBankingRates.com to participate in this finance story to help people prepare for the holidays and not blow their budget. We were only one of more than 30 collaborators with GoBankingRates.com for this article and slideshow by Cameron. Our tip is featured in No #2 “Buy Gifts Little by Little” as well as great ideas from Regina Conway from Slickdeals. Definitely, an amazing opportunity for us to be included along side some of our favorite finance mentors and leaders in the industry. The icing on the holiday cookie is that it has already been picked up by MSN Money, and The Inquirer/Philly.com! Below is our tip and a link to the full article. Be sure to give the full article a read, it is packed with tons of tips.
OUR TIP FROM THE STORY
2. Buy Gifts Little by Little
Buying everything in a single day during the holiday rush not only means you’ll overpay on certain items, you’ll put a bigger strain on your wallet all at once, said Regina Conway, consumer expert for Slickdeals. “By spreading out your purchases throughout the next few months, you’ll be able to budget accordingly and not have a credit hangover in January,” she said. Plus, it will allow you to take advantage of the various sales throughout the holiday season.
With more time to shop, you also have the opportunity to stick to a stricter budget. John Schneider and David Auten of Debt Free Guys said they calculate budgets and then “commit to spend 20 percent less each year. Then, we put our 20 percent savings in a holiday savings account for next year or celebrate the new year by investing it in the stock market.”