Ralph Moss Limited

SMART MONEY MOVES

Avoiding a holiday financial hangover!

Resolve now that the holiday season won't leave you with a financial hangover in January. Here are some guidelines to follow:

Stick to a budget. List all the extra expenses you can think of: gifts, entertainment, travel, greeting cards, home decorations, and so on. Bump up the total by 10% to allow a cushion for the unexpected. If your budget exceeds your available funds, start trimming.
Use credit cards sparingly. Paying with plastic often leads to impulse buying. Shop with cash, cheques,, or debit cards instead. That way, you can't spend more than you have. If you do use credit, use just one card, set a limit on the amount you'll charge, and keep close track of your account balance. Major credit cards make up-to-date informationon your account available by phone seven days a week. (See How to cut plastic credit costs)
Shop early. Avoiding the last-minute rush means you can comparison shop, which can help you stick to your budget. Deal with well-established retailers, and check their return, exchange, and refund policies.

The information and opinions contained in this newsletter are obtained from various sources and believed to be reliable, but their accuracy cannot be guaranteed. Readers are urged to consult their professional advisors before acting on the basis of material contained in the newsletter.

Last updated November 7, 1996
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Copyright© 1996 All rights Reserved, Ralph Moss Limited and Ariad Custom Publishing Limited
This article has been reproduced from Financial Planning Gude, Vol.10 No6. Copyright© 1996 Ariad Custom Publishing.