It may be too late to save the budget this year (which is not permission to spend more…stop now), but it is the perfect time to look at how much you have spent this year, see where you can maybe cut back and start saving for next year. If you spend $1,000 on gifts, extra food and such this time of year, then starting in January put away about $90 each month and by November you will have $990 saved. Now before you start your shopping next year, sit down and make a plan. Make a list of all the people you wish to buy for and set a budget for each person don’t forget to budget for extra food and drink and even the extra travel expenses you may have.
If you stick to your plan and budget it can relieve one of the big stresses of the Holiday season and make for a much happier new year.
If you need help with your cash flow planning, we are happy to help. We can sit down and go through your monthly expenses and help you rearrange your finances to make it work better for you. We can look at current plans as well as future planning to possibly purchase your first home, buy a larger (or smaller) home or doing some renovations, maybe even a vacation.
Happy Holiday Season and a Prosperous New Year!