Financial Independence and the Holidays

December 23rd, 2007 | Stacey | Debt Management, Financial Freedom, Financial Independence

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When the holidays arrive, we often watch the financial independence we worked so hard for all year go out the window as we purchase gifts, decorate and break the budget. Is this really the way to create happy holidays? After a major purchasing frenzy, you wind up spending all year developing a get out of debt plan just to do it all again next year. Let’s consider a better way to handle the holidays without compromising our financial independence.

Today we are taking a break from our ongoing series about investments in real estate for greater financial freedom to wish all our readers a happy holidays and to encourage you to spend wisely throughout the holiday season. Here are a few simple tips to keep your head above water:

-avoid using your credit cards unless you can pay off what you charge by next month;

-save all year for holiday presents by creating a special account that is used only for the festive season;

-purchase holiday presents throughout the year so all your time and money isn’t taken up during one month of the year;

-make crafts, sing songs, invite people over and find less expensive ways to show you care – after all, the season is about togetherness and the folks we love; and

-avoid the bigger, best, gotta have it state of mind that advertisements encourage during the holiday season – no child will self-destruct if they get a challenging game instead of the latest trendy widget.

By handling the holidays with a bit of planning and practicality, you can maintain financial independence and still have a wonderful time. Happy holidays!