Page Law Firm

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Denton County bankruptcy lawyerThe calendar has officially turned over to October and today is National Savings Day. This means that we are only about eight weeks away from Thanksgiving, which, to many people, represents the beginning of the winter holiday season. Christmas, obviously, will follow just a few short weeks later. With this in mind, now is the perfect time to start thinking about how you will handle the winter holidays from a financial standpoint. Without proper preparation, it is extremely easy to overspend and to find yourself using credit cards to make up for the shortfall in your budget.

Make a Budget

When you book a strategy session with The Page Law Firm to discuss bankruptcy, you’re asked to have some items on hand for the meeting. One of those items is a budget. Most of us don’t even think about how much we spend during the 4th quarter of each year.  Gift-giving is a wonderful tradition, but it costs money—quite a bit of money, if you are not careful. Before you start buying presents, create a plan that includes a maximum amount you will allow yourself to spend and make a list (checking it twice) of who will get gifts from you.  You are probably going to spend more on your children than you will on a gift for your neighbor across the street, and all of that spending should be accounted for in your budget.

It is also important to know where your holiday money will be coming from. Do you already have money saved? If not, will you be able to save enough between now and when you plan to shop?

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National Association of Consumer Bancruptcy Attorneys State Bar of Texas
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