Today First Lesson on Blogging

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et’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.