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Prevent Overspending For Christmas!

November 27th, 2007 at 04:28 pm

I remember the days that I used credit cards to pay for Christmas.

There were two key reasons that I used these fabulous credit cards:

1. I did not save money for Christmas during the year
2. I overspent on Christmas presents

I solved #1 by creating a Christmas escrow account.

Let's say that I wanted to spend $1,000 for Christmas. By saving $83.33 each month, I magically have $1,000 when Christmas arrives! This takes away a lot of stress, and I highly recommend it! You can read more about creating your own escrow account by clicking

Text is HERE and Link is http://www.josephsangl.com/?p=425
HERE.

I solved #2 by putting together a written plan for my Christmas shopping. I pulled up a copy of the Mini-Budget Form (Excel)on the
Text is TOOLS and Link is http://www.josephsangl.com/?page_id=151
TOOLS page and entered the names of those I am shopping for this Christmas.

At the top of the form, I entered $1,000 for the "Cash Budgeted".

I then wrote in the amount of money that I plan to spend for each person on the list.

Applying my secret formula for financial success, INCOME - OUTGO = EXACTLY ZERO, I spend the $1,000 to EXACTLY ZERO.

By pulling out cash for the Christmas Shopping, I can ensure that I will not overspend!

I am FIRED UP by all of the success stories that readers are sharing via the "Success Stories" link! Have you shared your successes - both large and small? You can do so by clicking on SUCCESS STORIES on the sidebar or by clicking
Text is HERE and Link is http://iwasbroke.savingadvice.com/2007/11/20/new-feature-success-stories_32191/
HERE!

1 Responses to “Prevent Overspending For Christmas!”

  1. Amber Says:
    1196210425

    Great post

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