Hi Everyone,
As the holidays approach I know many of us will be tempted to spend more than we can afford and we will use the mighty credit card to pick up the tab. Well I am writing to encourage you to reconsider doing so and think about the repercussions of that action. If you should lose your job right after the holidays and not find another for a few months will you be able to survive those un-budgeted monthly payments. In addition if you are not going to pay off your balance do not forget to add in the cost of the interest. My advise is to get started with a holiday budget and do not spend anymore than your budget allows.
Your friends and family will understand if you are unable to afford those previous expensive gifts for everyone. Modify your giving this year, either by giving only one gift per family, something they can all enjoy together. Or if you just cannot afford it, be honest and left them know that you are on a path to repairing your financial situation and will not be able to give this year. If you work hard on becoming debt free chances are you will be able to make it up to them in the future. If you feel you must give something then shop wisely and find inexpensive but chic items or become creative and make something. This might be a bit more difficult for children to understand but if dealt with in the right spirit I am sure you will be able to pull it off. I am working on some practical ideas and will submit them in a few days.
In the interim, enjoy life, live it to the fullest and whatever you do please 'do not overspend'.