Simple Ways to Avoid the Holiday Trap
So the Holidays are upon us, Christmas, Hanukkah, Quanza and New Year’s Day and probably several others I’m forgetting.
Would you like to know how to avoid the #1 trap that most people find themselves in this time of the year? No, I’m not talking about relatives making that unexpected stop to pay a visit.
I’m talking about money.
I’m talking about the debt that most people get into in the month of December and then spend the next year and maybe more trying to pay it off. It all starts with good intentions. It’s natural for all of us to want to provide more for our families and loved ones this time of the year. Gifts, vacations and all the other stuff we think we need to do this time of the year… it’s easy to find yourself spending more than you have.
When this happens you just do what most people do right?
CHARGE IT ON THE CREDIT CARD!
Unfortunately that is what most people do and it really is a vicious cycle.
So how do you break out of this message and avoid the Holiday Trap all together?
Below are some tips that I recommend… after the 3 tips I have something very important to share.
Avoiding the Holiday Trap
1. Live within your means
So many of us spend more than we have or can afford. For many people their “means” are not that much. Does it seem sometimes that you are just barely making it? You probably would not be surprised that most everyone walking around us are doing the same…living paycheck to paycheck and just getting by.
Note: If you don’t have it… you don’t have it. Don’t spend money you don’t have.
2. Budget wisely
Plan for this time of the year wisely. Know how much you make and where all your money is going to. Sounds simple enough right? Then why don’t most people do this? Because it’s hard…especially when things are tight.
One thing I’ve found though is that no matter how much you make, if you don’t keep a budget the money always runs out. Keeping a good budget will help you plan for gifts, vacations and holiday plans so you don’t have to get out of debt.
3. Learn to say no.
If you don’t have the money, learn to say no. This can be one of the hardest things for people to do as you can tell by the number personal bankruptcies that happen each and every day. Learning to say no so is really important when funds are tight.
Now I’d like to get real with you here.
The above tips I just gave are very sound advice but I’d like to switch gears now and get out of “Scarcity Mode”…because that is exactly what the 3 tips I just gave you are. They assume that you are just barely getting by for the most part.
Who wants that!
One of my mentors shared this experience with me recently…
He found himself in the same situation that most people do… living paycheck to paycheck and just getting by. He learned to budget and got his finances down to the penny and soon realized he had two choices.
1. He could continue like this, living paycheck to paycheck and get really good at keeping a budget.
2. He could make more money.
He chose the second. He knew that his job wasn’t getting him anywhere. The 2 to 3% raise a year just wasn’t enough to get him anywhere. He was either going to have to find a higher paying job or take matters into his own hands and start his own home-based business.
He decided to start his own Internet home business with the goal of making and extra $50 a day. You see $50 a day would be enough to pay his monthly house payment. He knew that if he hit this goal it would be a huge relief…
So with a lot of determination, some guidance, a little faith and hard work he was able to get to the $50 a day in a fairly short amount of time. Then something interesting happened…
Pretty soon he found that he was making $100 a day and then $300 a day and not too long after $500 a day! This was something he had dreamed about for many years and it was now actually happening. $500 days turned into $1,000 days and yes he had many days that were 2K, 5K and yes even 10K days!
I know it’s kind of hard to believe when you are stuck in the Rat Race and feel you have no options but the reality is if you really want to break out of the “Trap”, you really need to make more money
So that’s how you get out of the Holiday Trap and many other traps in your life.
Why live a life of scarcity when you can live a life of abundance? Why settle for just getting by? We all deserve more than this and if you would like to know more about my mentor’s story and what I’m doing to get out of that Holiday Trap!
Patrick Jackson
pjackson@theactiononline.com
P.S. Click here to see this video on Holiday Trap Buster!
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