Three Tips to Eliminate Debt To Buy

Whether you have cleared your debt or have cleared your debt, you must buy a gift for someone. Whether it is birthday, wedding, Christmas or Valentine's Day, there are different times throughout the year, you will have to buy a gift. Many of these events are not just the last minute before the event occurs. 99% of these plans are scheduled for a few months ahead of the wedding. Every other day, such as birthdays and holidays, will recur.

Or are you going to buy a gift?

Okay, we face the fact that no one twisted your arm to buy the gift. You can say "no" instead of doing that. However, the reality is that most people feel obliged to buy gifts for family and friends for special festivals and activities every year. Then the question is how do you buy these gifts without debt? The following are three tips for purchasing a gift:

Budget

The key to buying a gift is a prepaid gift. Christmas and birthday are at the same time each year. These holidays should not be surprises. Christmas holiday starts budget for January gift. This can save 12 months of Christmas funds. If you do not have a debt, and you accumulate money every month, then you can wait until the summer, or put a large enough amount in your holiday deposit in September to cover your credit.

For events such as birthdays, weddings and baby showings, create a fund that can reduce x dollars per month to cover possible or potentially unpredictable gift costs. Did you find that your child is often invited to a birthday party? Sometimes months in a month? Deducting money is only to make up for this situation, to a large extent prevent you from extracting credit cards for unexpected events.

2. Setting Limits

No matter how many birthday or holidays you plan your budget, you must set an affordable limit. Write it in your budget / spreadsheet. Decide the amount of Christmas. Perhaps $ 500 or $ 1000. Save money, buy your gift, do not exceed this limit a penny. Having a known limit and cash in hand is a good tool to help prevent you from pulling out a credit card payment gift. If you think you have to put a gift on a credit card and then think about it, "I can not afford it!"

Make sure you set a realistic limit. Obviously, if you have 20 gifts to buy, $ 50 will not let you buy the season through the Christmas gift. But if you are already in debt, or if your income is not very high, then you do not want to spend thousands of dollars over budget.

[194590010] Do not be responsible

This is more difficult because it hit us at the emotional level rather than at the financial level. Usually we have the obligation to buy friends and family gifts. I know that some people think that every child has to spend exactly the same money to buy a gift. This is a good way to make your own debt. Children and adults do not know what you have spent on the gift unless you tell them. Just because you spent $ 25 on your niece Christmas gifts do not feel guilty You spent $ 20 on your nephew. You do not need to go out and find a $ 5 gift to your nephew, make it "even" or "fair". Buying gifts from your heart is not based on how much money you spend on them.

When you clear the debt and consider buying a gift remember the budget, set the limit, do not feel obliged to buy something. Sometimes just where you spend your vacation is the best gift you can give.