Reports show the average American household has $9,200 in credit card debt, and will charge nearly $1300 over the holidays. And most people find that it takes six to seven months to pay off those “great deals” they found at Christmas (costing 10-20% more in interest). Don’t go into more debt this Holiday season. Get inspired to get out of debt, get a vision to save money and prepare financially to pursue your dreams and goals. You can still give amazing and creative gifts that your friends and family will love without spending a lot of money.

1. Be Creative: Throughout the year, take photos (never leave home without your camera!). In December, choose the 12 best photos from the year and create a calendar. You can upload them (or walk them in) to your local photo center and place your order. Many times you can receive coupons for 20-40% of photo gifts.
2. Skip the Burrito: Don’t waste what you earn on small things…like burritos! David Bach calls this “the Latte Factor”. If you spend $3.50 on your “daily latte” or “daily burrito” or whatever. Here’s the hard facts: a latte a day equals $3.50, a latte a day per month equals $105, a latte a year equals $1,260 and a decade equals $12,600. “A latte spurned is a fortune earned.” – People Magazine.
3. Starts with “T”: instead of feeling obligated to buy separate gifts for your nephews, nieces, cousins and their children, suggest drawing names secretly and purchase gifts that start with the first letter of that person’s name. For example, if your name is Terri, you might receive: “Taco” gift card, “toe” ring, “tote” bag, and a luggage “tag” (with the Eiffel “tower” on it). Set a price limit. Plus, the fun part is opening the gifts and trying to figure out who gave these crazy, fun gifts.
4. Keep the Change until Christmas: put any jingling change you have from your pockets, wallets, car ash tray and all change you receive from purchases into a jar. If you buy a meal that costs $6.23 and you hand them $7 cash, put the $.77 in the jar. Designate a certain day to take all the change to the bank or local grocery store and watch it add up. Or you can put the jar of change under the tree as a present! Change adds up little by little.
5. Brownie Points: Since about 60% of consumers have a “rewards” card, it’s the perfect time to check how many points you’ve accumulated on your credit cards, and cash them in. Don’t spend any more money than you already have…redeem the points! Then, get rid of the card…ultimately.

“The average American is busy buying things he doesn’t want with money he doesn’t have to impress people he doesn’t like.” – O. Donald Olson

Scripture: Proverbs 23:18