Budget – Spending Money

Prevent Overspending For Christmas!

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 HERE.

I solved #2 by putting together a written plan for my Christmas shopping.  I pulled up a copy of the [download#3#nohits] 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 HERE!