Holiday Budget Tips from Bromwich+Smith Staff: Navigating Festive Spending Wisely
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By Bromwich+Smith Staff | 659 words | Reading Time: 3 minutes and 34 seconds | Date: 2023/12/08
The holiday season is a time for joy, celebration, and togetherness. However, we know that for many the reality is these festivities can often come with a hefty price tag, leading many to face financial stress come January. To help you navigate the holiday spending season, we've gathered budgeting tips from our own team here at Bromwich+Smith.
Side Hustles for Extra Cash:
Recognizing the economic challenges of today, some staff members engage in side hustles to earn extra cash leading up to the holidays. This additional income proves invaluable when it comes to covering holiday expenses without resorting to credit. This leads right into our next tip….
Shop Your Own Store:
One ingenious way to avoid holiday debt is by leveraging your own resources. One staff member suggests embracing a side hustle and shopping from their own store. By keeping the wholesale to retail profit, they not only save money but also ensure that the gifts they give are of high quality and something they truly love and feel great about gifting. Additionally, this strategy opens doors for potential future sales or ongoing client relationships. Maybe your loved ones will fall in love with the items too and want to learn more about where to purchase them again!
Budget Throughout the Year:
Planning ahead is key, and many Bromwich+Smith staff members advocate for budgeting throughout the year. By setting aside a small amount of money each month specifically for holiday expenses, they avoid the need to rely on credit cards or lines of credit during the festive season.
Shop Early for Gifts:
To avoid the rush and potential overspending, staff members recommend shopping early for gifts. This involves picking up items throughout the year as opportunities arise. By adhering to a strict policy of not putting anything holiday-related on a credit card, they ensure financial stability and avoid accumulating unnecessary debt.
Stock Up Post-Holidays:
Savvy shopping extends beyond the holiday season. Staff members recommend taking advantage of post-holiday sales to stock up on items for the following year. This proactive approach not only saves money but also ensures that they are well-prepared for the next festive season.
Thoughtful Gestures over Monetary Gifts:
During lean times, one staff member shared a heartfelt approach to gift-giving. Instead of monetary presents, they wrote thoughtful cards and gave out coupons for acts of service. This not only demonstrated creativity but also allowed for a meaningful and budget-friendly expression of holiday cheer. Your loved ones truly do not want to put you into a place where you are struggling because you bought them a gift.
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Set Budget Limits:
For family members, some staff members set budget limits on gifts, ranging from $20 to $50. This not only ensures equality in gift-giving but also helps control overall holiday spending.
Opt for Low-Cost Gatherings:
Rather than splurging on expensive outings, staff members suggest opting for low-cost, festive gatherings. Whether it's a cozy night in with Christmas pajamas, hot chocolate, and movies or a stroll to admire holiday lights, these alternatives provide memorable experiences without the hefty price tag.
Utilize Online Sites and Apps:
Some of our staff members take advantage of online sites and apps like Rakuten, Swagbucks, and Checkout51 throughout the year. By earning cashback or credits on regular purchases, they accumulate savings that can be cashed out and used to offset holiday expenses.
The holiday season doesn't have to mean financial strain. By adopting these budgeting tips from Bromwich+Smith staff and creating your own, you can navigate the festivities without straining your bank account. Embrace these strategies, plan ahead, and make the most of the holidays without the burden of excessive debt.
If you find yourself struggling this holiday season, Bromwich+Smith has a number of debt relief strategies to help you regain control of your finances and get your life back on track. Reach out today for a free, confidential, no obligation consultation. Bromwich+Smith’s Debt Relief Specialists are available by phone at 1.855.884.9243, Live Chat or you can request a call back at contact us page. We want to see you flourish!
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