The holiday season is a time for joy, giving, and celebration. However, it can also be a time of financial stress and overspending.
To avoid starting the New Year with a financial hangover, follow these simple tips:• Set a budget and stick to it
• Make a list and prioritize your spending
• Consider DIY gifts or experiences
• Take advantage of sales and discounts
• Use cashback apps and rewards programs
• Additionally, consider implementing the 50/30/20 rule:
• 50% of your income goes towards necessities (rent, utilities, and groceries)
• 30% towards discretionary spending (gifts, entertainment, hobbies)
• 20% towards saving and debt repayment
By following these tips and being mindful of your spending, you can enjoy the holiday season without breaking the bank. Start the new year with a positive balance and a clear financial conscience.
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