Gift Yourself
The best gift you could give yourself this holiday season is to get though December without incurring additional debt. Believe it or not, your friends love you for you – not for the gifts you give them. If they don’t, get new friends.
Not paying your credit card bill in full every month is one of the worst things you can do for your finances, except in emergencies. Unless you can pay your bill in full every month, use a debit card instead of a credit card. If you are unable to pay your bill in full when you receive it, pay off as much of it as you possibly can. Do not use the card again until you have completely paid your bill and have a zero balance. The reason you want to pay as much as you can possibly can is the more you pay now, the lower your outstanding balance (what you owe the credit card company) and the less interest you will owe on the balance. Remember, interest is calculated on the amount outstanding. If you pay only the minimum required, you will pay the credit card company a lot of interest.
There are lots of ways to give without spending a fortune: Many websites and magazines have gift lists in various price ranges – use the range that you can comfortably afford. Diets aside, don’t over look home baking. Fattening deserts are always a crowd pleaser. Parties are good too. Arrange a pot-luck so everyone shares the cost and each others company. A heartfelt phone call wishing them a happy holiday and letting them know you are thinking about them is often better than any gift. Last but not least, since today is global AIDS awareness day, don’t forget charities. Making a donation in a friends name is a great way to honor them – and to help others in need at the same time.
Add comment December 1st, 2008