From Black Friday to Red Saturday

Posted on December 01 2009

With all your Christmas shopping, have you seen your Black Friday turn into a Red Saturday? Well you can bring your budget back into the black with a little refocus.

Now that reality hit and you see you may have made some unplanned purchases during the Black Friday blitz, don’t think your budget has to be bust. Take a step back; what’s more important – gifting a great deal you can’t afford which may set you back several months or giving a gift that you can afford? Giving a gift you can afford will allow you to enjoy the holidays as well as pay your monthly obligations.

If you’ve found your budget in a tight place, consider the following:

Now is the time to return. Don’t wait a minute longer. If you bought something you can’t afford, make the trek back to the store with your receipt and return the item. If you wait too long you may not be able to return it. Doing this may be a little painful; however, the purchase was probably unplanned and doesn’t fit into your budget anyway. You need to stay focused on financial freedom.

Rethink your holiday budget. If you’re looking at your receipts and have that sick feeling in your stomach because you’re spending more than you can afford, refocus. If you do not refocus you will be sure to ruin your holiday season. A wise man once said – It is better to have money in your pocket after Christmas than it is to be broke before Christmas (Author Unknown). It’s not too late to tone down your spending and rethink your budget.

Listen to your gut. If your gut tells you that you’re spending too much, you probably are. Listen to it. Even though you may have gotten the best deal ever, it is not a deal unless you can afford it. You may think it’s a great deal, but it’s probably more like a deal breaker.

Less is more. Giving an affordable gift is noble. In these uncertain financial times, now is the time to be prudent. Many people want to stay on budget, few will. Talk to your family and friends to encourage them to stay on track. You don’t have to be the “cheapskate,” but you can present this philosophy in a way that shows you plan to search for the right gift but want to emphasize time together more than the gifts.

Enjoy the holiday season. Don’t try to keep up with the Joneses; they’re broke. Make good financial decisions this holiday season. You will not regret this decision once January hits. If you can be wise this holiday season, your friends may be looking for a second job while you’re looking for a spot to vacation.

Merry Christmas