The fact is that sometimes you are going to be broke going into the holiday season. Worse things have happened. Maybe you are a college student, maybe you work construction and are laid off for the winter and maybe one of a million other things has zapped your bank account and there is just no denying that you are broke.
Lets say, for the purpose of this blog that you are not able to get a second job, you have no extra room to rent out in your home and you aren’t able to donate plasma. …..if you have read my other blogs you know that I believe all of these are good methods to earn extra money. If you really, truly are not able to come up with a dime for the holidays you better own it.
What exactly do I mean when I say this?? I mean let your family and any friends or other people who might expect a lavish Christmas this year in on the fact that you are broke. Let them in on it early. Start laying the foundation for your brokenness around Halloween. The sooner you set expectations for a lean Christmas the better. Let them know you won’t be hosting a Christmas party, spending a bunch on decorations, or going out a lot this holiday season. If your family and friends know that you don’t have a lot of money this holiday season they won’t expect you to go in on a gift for great uncle sammy that you saw 9 years ago at a family reunion, they won’t ask you if you want to go out to dinner at a restaurant that charges $50.00 for a side salad and they won’t ask you for a gift that is going to break the bank.
Your friends and family will understand. You are not the only one who has ever been broke. Just about every person that wasn’t born with a silver spoon in his or her mouth has been broke. The key to getting yourself out of this state is to save some money and you can’t save money if you are bringing a hostess gift to every holiday party and buying gifts for every person you have ever met. If you own the fact that you are broke you not only set expectations that you won’t be spending a lot of money to those around you, but you are also accountable to them. If you were to get the urge to buy an extravagant gift your loved one would know you couldn’t afford it…..which would probably stop you from buying it in the first place.
The bottom line is that your budget can’t go out the window just because you are in the month of December. Stay strong during this month and your savings will be rewarded all year long. If you’ve entered December and you aren’t just broke you are in debt….Halcomb Singler may be able to help. If you have an amount of debt you don’t think you could pay off in 5 years, are getting collection calls and are afraid that you might receive a lawsuit in the mail a bankruptcy attorney might be able to help. At Halcomb Singler we assist people all over the Indianapolis area with Chapter 7 bankruptcy, Chapter 13 bankruptcy and Debt Settlement Negotiations.
So instead of running up your credit card only to have buyer’s remorse just after the New Year, take the opportunity to develop a budget that you can use as a basis for you spending and saving in both December and in 2014. Get a jump start on your New Year’s Resolution and you won’t be playing catch-up and find yourself right back in the same spot again in December, 2014. Nothing about your financial life is going to change unless you make some changes. Make the changes necessary so that you aren’t broke for Christmas next year.
Halcomb Singler, LLP, is a debt relief agency. It helps people file for bankruptcy under the bankruptcy code. No attorney-client relationship with the firm of Halcomb Singler, LLP, is created through this blog. Also, please note that Erika Singler is an attorney licensed in Indiana and does not seek to practice law in any jurisdiction in which they are not properly authorized to do so. The information contained in this blog is general in nature and should not be relied upon for the circumstances of any individual(s) or businesses.