It's only two months before Christmas- have you been naughty or nice with your finances? This is the question you should be asking yourself before you indulge in any holiday shopping. The New Year is just around the corner, and you don't want to spend the first few months of the year escaping creditors, begging for mortgage payment extension, and avoiding credit card bills. People usually fall for repossession mortgage problems during or after the holidays because they fail to pay their mortgage on time. They make the common mistake of delegating most of their funds to buying gifts, lanterns, and a tall Christmas tree. While they're busy ticking items off their shopping list, the bills just keep coming. Sooner or later, a repossession mortgage problems notice would arrive at their doorstep just before the New Year. If you don't want to end up struggling with your finances during the New Year, you should learn how to moderate your spending during the holiday season to avoid a financial deficit. First, don't buy expensive gifts. The objective of the holiday season isn't to buy the most expensive gifts for your family and friends, but rather to recognize the spirit of giving and sharing one's blessings. This means that you can make do with affordable but well thought-of gifts. If you really want to save on budget, don't hesitate to give a common gift to your family and friends, such as pastries, towels, inspiration books, or other cheap items. Second, encourage potluck during Christmas parties. Answering for the food all by yourself might burden you with too many expenses. Share the burden with your family and friends, and ask them to play their part in holiday events. Don't take the center stage all the time and volunteer to pay for everyone's expenses. Remember, you also have your own budget to watch, so you can't afford to play Santa even to your loved ones. The only people who can take on the role of universal benefactor are usually wealthy CEO's and company owners. If you haven't reached that level yet, lie low and make do with humbl
Third, deposit your thirteenth-month pay and other holiday incentives into your savings account. This is what most people fail to do, because they treat their holiday incentives as budget for buying gifts and spending on parties. Having a secure savings account is a very good shield against repossession mortgage problems. Instead of spending your hard-earned incentives on holiday shopping, deposit them to your savings account so that you'll have even more backup funds. A savings account with a large deposit would also earn more interest. Fourth, avoid using your credit card when you go Christmas shopping. Because of the expected volume of purchases, banks and other financial institutions may quietly raise interest rates while their clients just swipe their credit away. Don't be blinded by credit card promos and plus points- use cash as often as you can. Avoid repossession mortgage problems by controlling your credit card usage, and you'll do just fine.
