Black Friday Blues

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Services for Real Estate Pros with Promo-Plates car nameplates by Ameri-Plates

Today is Black Friday....the busiest shopping day of the year and a great time to get out and buy, buy.... But hold on a minute, it's only a great time to buy if you can afford it. 

More than half of all Americans will do their shopping today with credit cards.   Many of those shopping with the buy today...pay tomorrow attitude may require a reality check.   The best deal on the planet is not a good deal if there are other priorities for your hard earned dollars first. 

Instead of buying with credit card why not use the envelope budgeting system..    Purchase a package of envelopes.  Write on the front of each envelope where the cash is to be spent and insert what you can afford to pay for gifts and other purchases.

Example:   Son $35.   Daughter $35   Husband/Wife $45.   Uncle Louie $20.  etc. etc..    Once you have decided what you can afford to spend...DON'T GO OVER THAT AMOUNT.    As you're operating in cash you won't be tempted to ring up more credit debt than you can afford.  

The Holidays are a wonderful time to give and share with families and friends, but keep in mind the cold shiver of January when the bills come due.   It's wonderful to be a great giver during the Holidays.....but always remember your constant everyday bills such as electricity, food, taxes etc. must come first.

Debt...and interest on debt is a killer.    Be sensible....Spend within your means...

BE SURE TO SUBSCRIBE TO MY BLOGS JUST ABOVE MY PHOTO FOR NEWS YOU CAN USE DAILY.

Thanks.  Sincerely, David

www.TailGateTags.com

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Rainer
265,158
South Austin Real Estate Blog
Sky Realty South Austin - Austin, TX

David, great suggestion about the envelopes ...  I am avoiding credit card debt this holiday season, with the credit cards upping interest on a whim it seems, I don't want to be caught in the trap of paying 10 times for a simple purchase.

Nov 28, 2008 12:04 PM #1
Rainer
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Debi Ernst
St. Charles County, Missouri - Prudential Alliance Realtors - O'Fallon, MO
GRI, e-PRO, Broker/Sales Associate

David - That is such good advice.  Budgeting is really very freeing.  It is not bondage...  :)

Nov 28, 2008 12:39 PM #2
Rainer
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Stephanie Ballou
Keller Williams Coastal Realty - Dover, NH

Good suggestions. I am disgusted at what the holidays have come too. Retail frenzy and over spending ... for what? Does it really show how much you love the recipient? I think not! The true meaning of the holidays.... I'm afraid... has been lost!

Nov 28, 2008 12:49 PM #3
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Rainmaker
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David W. Langford

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