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Education Education Finance Saving Tips

How To Tell If You Are Going Broke After The Holidays


Today, we have 79 days until Christmas!
It’s a big occasion for most of us. It’s the time to get together, the time to celebrate the real meaning of the season and the time to alot money to make the celebration a feastful one-regardless if you can’t really afford Christmas.
Sure, everyone wants that piece of happiness. We don’t want to take that away, and nobody has the right. But this is a sorry not sorry kind of advice to share how to tell if you are still going to get enough moolah after living way above your means over the holidays.
We want a holiday celebration that makes your money count. So, check out these warning signs to help you save some for yourself.
Sign No. 1: You don’t set your Christmas Budget.

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The holiday season is not an excuse to keep yourself from making a budget. Just because you think this is the best time to reward yourself, you have to go all out. Stop there! You’re not being financially smart. Plus, thinking that you have enough money without setting a ceiling budget is not how you budget for the occasion at all. If you don’t have a list of your spending forecast you’re not doing it right.
Consider what you’ll have by the end of the year and ask yourself the question, “Have I reached my financial goal?”
Financial Advice: Prioritize your financial goal and make a list. Write down all the possible expenditures and by all means stick to your list! You’ll thank yourself after the holidays.
Sign No. 2: A Greater Portion of Your Salary is Spent for Holiday Purchases.
You just got your paycheck and the first thing that comes into your mind is to spend. Whatever that is, you just spend.

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Let’s get real here, have you been living on paycheck after paycheck?
Well, if you’ve been investing in something worth it, congratulations! But If you have a habit of the one day millionaire, then sign up for shopaholic anonymous, because that’s not leading you to your financial goal.
Financial Advice: If you have I.O.U.s, that spell a lot of financial trouble, uh-oh! What you should do is to make 79 days worth SAVING! You could spare a thousand or a hundred daily. You can always start small, it will eventually PAY off!
Sign No. 3: You don’t have plans.

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How do you spend money on the holidays? What’s your plan? If you shrugged as an answer, well, you are definitely a come what may planner. You get drag along with the hype of friends or colleagues and you jump on the trend of splurging. Well, mister/miss, the world out there is a buy-spend battlefield. Your money is your weapon and your plan is the strategy. Failing to prepare is preparing to fail, we remind that over and over again.
Financial Advice: Reflect, what do you want to achieve at the end of the year. Is the Holidays worth spending right now? If you don’t have a backup answer to your yes, then start planning and just do it.
Sign No. 4: You say yes to all Christmas Party and and reunion invites.
Let’s be frank, you don’t set a budget, you impulse buy, you don’t have plans and you say yes to every party invite you receive… a recipe to go broke after the holidays. No doubt.

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You’re friendly and the parties mean free food, Yes we get it!  Those reasons can warrant you glee, but if we ask how you’re faring well for your long term financial goals? If that cat got your tongue, you need serious money advice.
Financial Advice: Learn to say no. And yes we get the feeling of missing out, but do make sure you have enough, okay?
Sign No. 5: You have a Santa’s list of gifts to give.

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You give too much and you keep on giving Christmas expectations to the names on your list. And that’s not bad, that’s better than receiving right? However, we’ll be honest. If your budget is not as big as your heart, don’t feel guilty over not giving presents to the people on your list. Gifts are wonderful but the material things don’t last forever, memories do. So, cut some slack and scratch that list. Let’s see if you are still that Santa on their eyes.

Financial Advice: Gift giving is not obligatory. Your presence can be a present as well. Don’t set expectations, you can get creative too with your gifts.
If you don’t have a holiday budget, don’t use all of your income. You can get extra cash with the help of PawnHero. What are we here for after all? Just visit the website to learn more. Oh, you can also do that on your phones by downloading the PawnHero app here.
Also, before going all out on a shopping spree, be wiser, we have the new online shop, Marketplace.ph, where authentic and pre-loved branded items meet bargain prices. Experience online shopping with amazing deals.
Don’t forget to like PawnHero Philippines and Marketplace by PawnHero on Facebook to get updates, games and cash prizes.


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