Monday, December 12, 2011

Tips No New Debt At Christmas And New Year's

Happy New year

Tips No New Debt At Christmas And New Year's

New Year's Eve is usually celebrated by the whole society around the world. From the most simple to the lavish celebration for those who can afford. The celebration also marked by year-end holiday gifts and gifts for relatives. Unfortunately most people forget to do some preparation is important.

First, the cost of the end of this year's celebration is not budgeted in the annual budget. Secondly, if the budgeted too eventually exceed the cost of funds already budgeted. Why is that? because the budget is made is not specified. This led eventually end up using funds that are not budgeted, such as using a credit card or using funds from the Loan. It's the end of the year can be run with great fanfare, but the beginning of the year will be preceded by repaying the debts.

Christmas And New Year's Tips No New Debt. Several steps should be done so that the early years can be lived with a new atmosphere is comfortable and free from the burden of debt is:
  1. Make a detailed list of what you plan to do to through end of the year. Example: giving gifts to father, mother, brother, sister, give bonuses to employees homes, large family party celebrate Christmas or New Year holidays with the family while out of town / overseas.
  2. From the list, make a breakdown of costs is required from each list. The more detailed the better. Until you know whether you have sufficient funds to finance the plan plan your year-end. So if it turns out you do not have sufficient funds, you can make adjustments to the plan. Thus the plan you are going to adjust the funding of your ability, not vice versa. If you only have a list of the final plan year without making the details of the cost, then eventually you have to find other funding sources that end up in debt and you will start the new year with a list of installments to be paid. If this situation is not corrected, it will be repeated every year and the installments will increasingly piled up and were in debt.
  3. In using a credit card to pay for the purposes of the end of this year, be sure only to the means of payment and paid in full at the time before the due date of payment. So you do not have to pay high credit card interest. Therefore, in making the details of the cost (point No. 2), you determine what needs to be paid in cash and payment of what was going to use a credit card.
  4. At the end of the year, many holiday where banks would be closed for several days. Therefore, if payment of the bills you do not use a payment / automatic debit, then you should check the due date of payment of your bills such as credit cards, electricity, telephone, water, internet etc. that may change because of the days year-end holidays.
  5. Check again the allocation and access to the placement of your emergency fund. If you are on vacation out of town or abroad, be sure to keep an emergency fund can be accessed easily when needed place for your vacation. If the allocation of the savings that can be accessed through ATMs 24 hours, it is less, then you have to melt some of your emergency funds in Precious Metals Mutual Funds and Money Markets.
  6. If you have not created this during the budget end of the year, begin to make it for next year and future years. The more time that is prepared, the more options you have for planning your year-end. So every year you can enjoy year-end and the beginning of the year with more financial sense.

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