Many Canadians go into debt each year to give gifts to those they love for the holidays. Now that the damage is all done, and if you’re one of those people, it’s time to take a serious look at what needs to be payed off. You will need a plan and I’m here to help you with that!
Check out these tips for getting out of debt after the holidays:
Get a Total
Before you can tackle the debt you created, you will need a total. Gather up all of your credit card statements or loan amounts to see what the grand total is. Try not to beat yourself up when you see the total. 🙂 So you got a little caught up in the season… now is the time to get back on track financially.
Create Goals
After you know how much money you’re owing from the holidays, it’s time to create goals to get the debt paid off. For example: “By May, we want to have $300 of our debt paid off.” Your goals should adequately reflect how much debt you are in. Of course, you’ll want to be out of debt way before next Christmas, so this doesn’t happen again!
Make Extra Money
If your current budget is being taken care of by your income and there’s nothing leftover, making extra money might be your next step. There is so much extra work you can pick up even after the holiday season is over. Consider shoveling snow or even working part time at the mall. Or perhaps you could try selling some of your unwanted/unneeded stuff!
Create a Christmas Goal
As I mentioned earlier, without a goal in mind for next year, you will be in the same place each time with debt. It’s important to create a goal for Christmas earlier in the season. Set an amount of what you want to save and go from there. If you can swing it, start saving weekly or each time you get paid. It makes a lot more sense to save cash now rather than use credit later. (In other words, credit is for cash you may not have!)
Use Cash From Here on Out
It’s one thing to use credit cards and to get into debt over the holiday season, but it can be detrimental to your family’s income if you continue on this path. Your best bet is to use cash from here on out. You can even put cash in envelopes to keep yourself from spending above and beyond what you budgeted for. Cash is always your friend when budgeting and spending.
Do you have any tips for getting out of debt after the holidays? I’d love to hear them!
Our modern society puts a lot of pressure on us to spend money at Christmas time. This can be stressful and upsetting if you really don’t have the money for Christmas this year! But don’t worry, you can still have a lovely Christmas no matter how tight your budget is! Take a look at these tips on How to Have a Merry Christmas without Spending a Dime!
How to Have a Merry Christmas without Spending a Dime
1. Make DIY Christmas Gifts
Just because you don’t have money to spend on Christmas doesn’t mean you can’t still give gifts! You could sew, sculpt, crochet, paint, or bake a lovely gift using materials/ingredients that you already own! (Check out my Homemade Christmas Gift ideas.)
2. Give Experiences as Gifts
Gifts don’t have to be material! How about giving experiences instead? For kids, you could give coupons for a late bedtime. For your spouse, you could give a coupon for breakfast in bed, or a day where you do all their chores. With thoughtful gifts like these, you can easily have a great Christmas without spending a dime!
3. Stay In
Instead of going out for entertainment, how about staying in? You likely already own a couple of great Christmas movies, and you probably haven’t seen them in a whole year. Your family could also play board games or card games. You can have a lovely evening without spending any money.
4. Find Fun in Nature
Nature is, for the most part, a free playground. If you’ve got snow, go outside and have fun. The family can make snow angels and snowmen and have snowball fights. And if you’re lucky enough to be by a frozen lake, you could go ice skating! Even if you don’t have snow, that doesn’t mean you can’t have fun playing catch, hide-and-seek, or other fun outside activities.
5. Make Decorations
You can decorate your home for Christmas without spending a dime. All you need is a little time and creativity. Consider making old-fashioned decorations like popcorn on a string. Or use materials you have to make simple ornaments like popsicle stick stars!
6. Make a Christmas Tree
There are plenty of ways to make your own big Christmas tree. For example, you could make one out of a ladder, or cut planks of wood and put them on a wall to create a Christmas tree shape. Then string your lights, hang your ornaments, and enjoy!
7. Use the Book Store or Library
Want to enjoy Christmas without spending a dime? Then skip buying the over-priced Christmas books for kids and read them in the book store, or borrow them from the library.
8. Visit Friends and Family
Want some free Christmastime fun? How about visiting your friends or family who live close? There’s nothing more fun than spending a nice afternoon with loved ones! You don’t even have to get together to do anything that costs money. The adults can have fun chatting, while the kids play with toys and make up games!
9. Visit Free Performances
At Christmas time, there are usually dozens of free plays and musicals to attend. See if your city is hosting any free events, or if there’s anything fun going on at the local schools or churches!
10. Volunteer
One of the best ways to have a merry Christmas without spending a dime is to spend your time helping the less fortunate. Whether the less fortunate are people or animals, your family will have fun working with others for a worthwhile cause. You might even make some new friends!
What free things do you like to do at Christmas time? Let me know in the comments below!
Smart financial habits that will transform your finances for good
Have you found yourself falling into some negative financial habits lately? The truth is, it can happen to anyone, and before you know it, you may feel like you are in too big of a hole to get out. Well the good news is, just as easily as you found yourself in that hole, you can implement some positive financial habits and find your way out. Take a look at these 7 habits that will transform your finances and lead you on the path to financial recovery.
1. Pay yourself first.
Regardless of your income, you should always be paying yourself first. This means setting aside some of each paycheck towards savings. You deserve a secure future, and a sound savings account will help you achieve that. Take a small percentage out of each paycheck (and gradually work your way up to a larger percentage as you can) and place it in a savings account you don’t and won’t touch.
2. Start keeping receipts.
It may be habit to toss your receipts, but try keeping them for 30 days to get an idea of just how much you are spending. It is way too easy to swipe a card these days, and the end result is us feeling like we aren’t really parting with our cash. Instead, save receipts to get a visual of how much cash is going out.
3. Track your spending for 30 days.
Keep a journal that tracks all of your spending for 30 days. Whether it is a one dollar purchase or $100 purchase, track it. At the end of the 30 days, you will have a decent idea of what your money is going towards. Bills? Food? Fun? The journal will give you a realistic view of your spending so you can start making changes.
4. Set a budget.
Once you get an idea of where you money is going, you can start setting a monthly budget. Be realistic about the money you are working with, and decide what your immediate needs are. Set a budget at the start of each month for food, bills, fun, etc. Write your budget on paper so you have something to refer to and stay focused on during the month. You may want to consider setting a budget each week to start!
5. Use the cash envelope system.
A great way to budget, is to start using the cash envelope system. (These printable cash envelopes for $3.99 are great!) Use one envelope for each need you have. Examples for envelopes could be: groceries, clothing, entertainment, take-out, gas, etc. Place the allotted amount you need for each week/month in the envelope and spend it as needed. When the envelope runs out, you are not to take from another envelope or funds to replenish. Only replenish at the start of a new week/month.
6. Find an “accountability friend”
It is always easier to manage money and curb your spending when you have a friend on your side! Find a friend who is just as serious about becoming financially responsible as you. You can meet weekly (or as often as you need) to go over your budgets, share tips, and offer each other plenty of support.
7. Find non-monetary ways to reward yourself.
Many times we feel like we deserve to spoil ourselves. And while we do deserve to be spoiled for our hard work, we don’t always have to do so financially. Treat your self with non-monetary gifts such as a visit to a local museum on freebie days, nature walks, a good nap, bath, or another treat that doesn’t require money. You can still feel spoiled and rewarded without spending a dime.
As you can see, these 7 financial habits are easy ways to get back on track so you can start enjoying your financial freedom. Give them a try and you will see they can help you get out of the financial missteps you have found yourself taking.
Do you find yourself with leftovers after each meal? It’s wasteful just to toss those scraps into the trash, but are you stuck on ideas on what else can you do with them? Even if your family isn’t crazy about leftovers, there are fun ways to make the most of them. Take a look at these 7 ways to make the most of leftovers so you can stretch your grocery budget each week.
1. Invest in proper storage supplies.
Before you begin making the most of your leftovers, invest in some proper storage supplies. Having sturdy, clear plastic or glass containers is ideal for seeing the contents of each container. Freezer bags and tin foil will also help you store and save leftovers. If you don’t have these items it’s way more tempting to toss leftovers in the trash. Instead, be prepared!
2. Plan menus ahead of time.
When you know you are having steak for dinner, you can easily plan to eat steak salads (using your leftover meat) for the following day. If you know you are having hamburgers, you can plan a beef and vegetable stew for the day after. By using leftovers from your dinner in your subsequent lunch, you can make the most of those leftovers. Meal planning can help you stretch each meal.
3. Get creative with stews and soups.
Leftover chicken, vegetables, beef, and noodles can all be added to a broth and warmed up into a soup or stew. See what combinations you prefer and get creative with your soup recipes.
4. Try chicken salad recipes.
Leftover chicken can be peeled from the bone, added to a bowl, and turned into chicken salad quite easily. Just add a little mayo, a hard boiled egg, and some celery and you have the perfect lunch! Try adding other leftovers into the mix to see if there is a combo you enjoy.
5. Bake those buns!
Turn leftover buns and bread into croutons. Just cube, sprinkle with olive oil and seasonings of your choice, and bake in the oven until nice and crispy. These are great for soups and salads.
6.“Wrap” leftovers up.
Always have some tortilla wraps on hand to make wraps using your leftovers. You can add steak and vegetables, chicken salad, veggies and cheese, or any other combinations that might appeal to you.
7. Use leftovers as toppings.
Leftover cheese, veggies, and even meat can always be chopped or crumbled and used as baked potato topping, pizza toppings, or soup toppings. Don’t think of these leftovers as a whole meal (if you don’t have a lot) but more as a topping or condiment.
Never look at leftovers the same way again when you give these creative leftover ideas a try.
I’d love to hear how you use leftovers in your household! Share in the comments!
It is that time of year again, when ghouls and goblins will be showing up at your door asking for tricks or treats. If you have a great number of visitors in your neighborhood, you might be wondering how to save a little cash on Halloween candy. Well don’t fret, take a look at these 7 simple ways to save money on Halloween candy and get the sweets you need for less.
6 Simple Ways to Save Money on Halloween Candy
1. Head to the dollar store.
You will be quite impressed when you see the selection your local dollar store has to offer. Everything from fun sized licorice to candy bars are available as are themed pencils and erasers perfect for passing out.
2. Consider non candy treats.
As mentioned above, your local dollar store will have themed treats like pencils, erasers, and other small Halloween toys. These are great for passing out to trick or treaters and can cost less than a bag of candy. For example pencils can be sold in packs of 18 for $1, while most bags of candy have less than 18 treats. Do the math and see if it makes sense to opt for a non edible treat.
3. Opt for hard candy.
Your hard candy like suckers, mints, gumballs, etc. will always cost less than chocolate bars. When you buy hard or other non-chocolate candies you are sure to save and are able to get more bang for your buck.
4. Don’t buy candy you like.
This is a wonderful tip, because buying your favorite candy means you will eat it. (guilty!) When you eat it, you need to buy more. Instead, choose a candy that isn’t your favorite and you don’t have to worry about half of it being gone before Halloween even gets here. Along the same lines, don’t buy too early because it may end up being eaten before Halloween. 🙂
5. Don’t buy at the grocery store.
Since Halloween candy is seasonal, it’s a specialty item and will cost more at your local grocery store. Instead, opt to buy it at a retail store like Walmart, Dollar Tree, or Dollarama. You will get better prices and still have an excellent selection.
6. Price match.
Stores will start offering all sorts of deals on their Halloween candy and treats. Don’t take the first deal you see. Instead compare flyers and price match. This is a great way to get a great price without having to run all over town.
Don’t go broke trying to buy Halloween candy this year. Instead, give these tips for saving money on candy a try and you can still fill those treat bags for less.
It’s time to start planning those Thanksgiving menus, and you might be wondering how you can save a little money in the process. The great news is, you can still enjoy a hearty Thanksgiving meal while saving some money. Take a look at these 7 ways to save money on Thanksgiving dinner, so you can plan a feast that is easy on the budget as well as pleasing to the stomach.
1. Start stockpiling now.
Don’t wait to start grabbing the ingredients you need. If you see sale prices on items such as soups, broth, rice, noodles, and other items that won’t go bad before Thanksgiving gets here, grab them! These staples can be put to use in many ways so finding a good deal on them is a great reason to grab them.
2. Get creative with starches.
Potatoes, noodles, and rice can all be used in your Thanksgiving menu and are relatively inexpensive to buy. Look at different ways to prepare these foods so you can create your feast for less. Some ideas could be cold salads, oven bakes, loaded potatoes, baked potatoes, and even stuffed peppers to use the rice.
3. Don’t forget the bread.
Bread products are filling and can be purchased for just pennies per serving. Grab some boxed bread mixes while they are on sale, or grab a few fresh loaves closer to the holiday. If you find a great deal on bread now, don’t forget you can always save it or use it as croutons. You can also visit day old bread stores to get some real deals.
4. Use in season produce.
Use in season produce items to make your salads and side dishes. Some examples would be squash dishes, potatoes, apples, and grapes. In many areas these items are in season and so they will be at their lowest prices of the year. Just find creative ways to use them and make them part of your delicious meal.
5. Search out coupons.
Start scouring your flyers now for coupons that are good on meat products, side dishes, dessert items and more. Clip them out as you see them and ask family to do the same. Match your coupons with store sales so you can double up on your savings and maximize your dollar.
6. Ask guests to bring a favorite dessert.
One of the easiest ways to save some money and stress is to ask guests to bring a dessert. You will find that most are happy to do so. Some inexpensive dessert ideas can be jello parfaits, pudding parfaits, or fresh in-season fruit.
7. Don’t overlook the dollar store.
Dollar Stores are perfect for buying your roasting trays, tin foil, wax paper, and other cooking supplies. You can also find seasonings, side dish items, pasta, canned vegetables, and more. Head to your local dollar store and see what you might be able to use.
If you are in charge of Thanksgiving dinner this year, don’t see dollar signs just yet. Give these tips a try and see how frugal your feast can be.
What are your best savings tips for a frugal Thanksgiving dinner? Share them in the comments!
