Let’s face it – the holiday season is spending season. This
time of year can be rough on a person’s finances, especially for
those who are considering filing for
bankruptcy or who are in the process of recovering from bankruptcy. Fortunately,
our firm has compiled a list of several things that a person can do to
limit their expenses during the holiday season.
1. Host a “Secret Santa” gift exchange: Instead of purchasing gifts for everyone in your life this holiday, holding
a “Secret Santa” gift exchange can be a great alternative.
Everyone will still receive a gift, and you will save yourself a lot of
money in the process.
2. Give homemade gifts: A hand-crafted gift can bring just as much holiday cheer as a store-bought
item. If you are artistic, try making things for your loved ones such
as paintings, crafts, poems, sketches, or even preparing them a meal.
3. Establish a budget: If you are purchasing gifts, make sure you determine your budget ahead
of time and strictly stay within its limits. If you need to spend more
on a gift for one person, make sure you spend an equal amount less on
another. This takes tremendous discipline, but your finances will thank
you for it once January rolls around.
4. Make a list, check it twice: Exchanging gifts with fewer people is one of the easiest ways to reduce
your holiday expenses. Once you have established a small list of who you
wish to exchange gifts with, adhere to this list and refrain from adding
any more people. Limit your purchases to one gift per person.
5. Find the best price: Before you make a purchase, make sure you have shopped around and looked
for the lowest price possible. Most retailers have “price match”
policies where they will lower their price to a competitor’s offering
in order to keep your business. Additionally, opting for lower-cost substitutes
to name-brand goods can help cut costs.
6. Pay cash: Whenever possible, pay cash or use your debit card for holiday expenses.
Charging items on credit cards can rack up your holiday debt extremely
quickly. Store credit cards are notorious for their high interest rates
and can make your holiday purchases end up costing way more than their
initial purchase price. Paying with cash can eliminate this risk.
Contact The Pritchard Law Firm
Are you struggling to make ends meet this holiday season? At The Pritchard
Law Firm, our award-winning Fort Worth bankruptcy lawyers can use their
vast legal expertise to help you find a solution to your debt and guide
through the process of filing for bankruptcy. With 45+ years of legal
knowledge and several positive
client testimonials, our firm has the skills and dedication you need to help you pursue a
desirable outcome for your situation.
Contact our office online or call us today at (817) 285-8017.