Feeling Lucky? (aka Overspending During the Holidays)

Feeling Lucky?Really, don’t count on it. Changing your financial situation is usually a matter of changing long-held, little-considered ideas and habits. And overspending during the holidays is one of the big habits most of us give in to. But in all economic times, not just this one, spending what you cannot afford and failing to save what you can save puts you and your family at risk.

In my bankruptcy practice here in Santa Fe and northern New Mexico, there’s what I see as a “holiday lull” — fewer consultations right up and through the holidays, then, seemingly as the bills from the holiday spending start coming in later in January, more people calling to set appointments to learn how bankruptcy might help them.

This article by Ramit Sethi does a good job of telling us how to do better with our financial habits.

Nov. 30th NYT Bucks (Making the Most of your Money) Blog
November 30, 2010, 12:03 pm
How to Improve Your Financial Willpower

Ramit Sethi runs the Web site I Will Teach You to Be Rich. Two years ago I commented on a series he billed as a 30 Day Challenge to save $1,000.

Here’s the link to the first: Tip #1: Pack lunches for the rest of the week. As you the pace into the heart of the holidays grows frantic, why not review and remind yourself of thoughts and actions  you can take that my help you and your family more, in the longer run, than that new … however bright and shiny as it is!

Comments are closed.