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During the holidays it can be tempting to spend a little money on myself. There are so many cool gadgets and so many great deals that it’s hard to pass up the opportunity. But if you’re on a strict budget this time of year, it can be tricky to make sure that you’re not spending a lot more than you should.
If you're concerned about your gift, travel and food budget during the holidays, try to cut spending in other areas of your life. Tamp down on meals out, movie theater visits and non-gift-related shopping sprees.
“Budget.” The ugly B word. Just like how nobody likes to count calories, most people don’t enjoy budgeting. For starters, there are a swarm of negative connotations associated with “budgeting.” For instance, feeling restricted, being a “no fun” boring person, or forgoing the joy of the here and now with saving for retirement. Instead, try thinking of it as a spending plan. That’s all a budget really is: A game plan for spending and saving your money. It’ll help make sure your financial bases are covered, help you steer clear of debt or manage existing debt, and help you stay on track with your money goals.
Did you know that 47% of Americans cannot cover an emergency expense costing $400 or more? SAC Foundation understands this dire need and has an online, self-help financial education tool called KOFE to help provide basic money management fundamentals. Check out this FREE resource by clicking the link below!
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