The Chronic Consumer

With one week left until Black Friday, the biggest shopping day of the entire year, I’d like to take a moment to recommend that you create — and stick to — a budget this holiday season. I know it’s tempting to spend more than you can afford on your kids, your spouse, or other loved ones, but that can really wreak havoc on your finances for months and months to come. It’s just not a smart move to overextend yourself during Christmas to the point where you have to cancel your cable package or discontinue your burial policy later in the year.

So if you can only afford to spend, say, $100 per child this Christmas, don’t break down and end up spending twice as much as that on gifts. I know from experience that it’s not worth it in the long run.

Make a commitment to shop smarter this year!