Only 10 days to Christmas and that’s enough to explain why my work mode is gone and all I want is to dress up and be on the road. Road trip anyone?
There’s something magical about traveling and visiting new places. The magic can be felt all the way into our wallets and purses, let’s be real!
And because of FOMO( Fear Of Missing Out), we borrow and borrow and next thing we know it’s 1st January 2019 and we are as broke as a squirrel with no ticks.
Íf you happen to be in search of escaping this voodoo called debt, here are 5 ways how.
1. Envelope Budgeting
Categorize your expenses using actual envelopes or the envelope budgeting apps available. It keeps you not only in check but prevents you from crawling into avoidable spending. It’s a simple recording system for you and your family.
2. Compromise Best for Good.
So as the month starts, you identify this awesome getaway that has a good offer and yet with the discounted cost, it’s still higher than your budgeted vacation cost. It’s never that serious honey. As long as the earth is intact for another one month, you can give yourself room to save the big bucks for the escapade.
3. Don’t touch your Emergency Fund
After the Christmas carols and turkey feasts, your dancing feet will walk right back to the hustling cycle. You need your financial security as you work on rebooting for the new year and ground yourself on the new goals to reach the next level of life. Personal development is a necessity. Don’t walk blind into the new year.
4. Hide your Credit Cards
With a credit card around it’s very easy to spend money frivolously. It tingles in your pocket and after eyeing an item, you are hypnotized to make that one swipe that leads to two and more. Store it in a place you rarely go to and focus on what you need. You will thank yourself later.
5. Avoid Bad Debt
Bad debt is money borrowed to finance things that can be consumed,. It’s literally flashing money into the toilet because you can never recover it. It’s a time bomb ready to explode, creating a big dent in your financial life and pulls you off track no sooner than you say Happy New Year.
I hope this list will help you as you get into the festive season.
Happy Festive Season Lovelies💚
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