Chestnuts roasting on an open fire, Jack Frost nipping at your toes, and plastic melting in your wallet. Oh the holidays, what a wonderful time of year they are. Unfortunately, all the merriment and good cheer is often accompanied by a good dose of fiscal irresponsibility.  

The holidays can range from a minor financial inconvenience for some people, to a complete disaster for others. How do you handle the challenges of the holidays spending? If you are still pulling holiday bills from your mailbox when the tulips are popping, chances are you are not handling it very well. It’s not easy I know, especially if you have children. Most of us will go to any length in order to ensure that our children will be smiling come Christmas morning. Unfortunately, it doesn’t stop with the kids. We often extend our buying to adult relatives, friends, children of friends, co-workers, neighbors, teachers and service providers. And it’s not just presents! It’s wrapping paper, greeting cards, food and alcohol, cooking and baking supplies, postage , wine, clothes and charitable gifts.  

So what can you do. First thing, draw a “line in the snow” or set a spending limit. Only you can determine what amount you are comfortable with, but it should never be more what you can have fully paid off well before the ice starts melting from Lake Erie. Use just one card to charge all your purchase so you can easliy keep track of what you spend. Avoid impulse and last minute “must have” purchasing by starting early, before the real emotion of that season kicks in. Consider shopping over the Internet where the temptations associated with all the bright lights and glitter of the shopping mall are eliminated. Talk to other about “just buying for the kids”. Most relatives hate shopping for each other anyway. 

Then when the season sets in, sit back, relax and enjoy. Rather than running around spending money, take a drive with the family to look at lights in the neighborhood. Take in one the many free holiday school concerts. Visit family, friends and your older lonely neighbors, bringing with you nothing more than cheer and merriment. Volunteer to ring the bell for the Salvation Army or help cook a meal for the elderly at their retirement home. The holidays can be a wonderful time of year. There is no need to bankrupt the future to ensure it. 

For more information visit www.theunfinancialplanner.com