Now that the holidays are over, it is time to think of so quick money saving tips. The presents are put away and leftovers are gone, credit card statements begin to arrive. We cannot pretend that we did not enjoy the season of giving and now we have to pay the price…literally. It was priceless to see my daughter’s face light up when she saw the presents under the tree, but now it is time for damage control. It is time for financial recovery!

How Much Did You Spend?

You need to find out the damage before you can go any further. I know it is probably an amount that you wish would go away, but it is not. Every year I plan my holiday spending, and every year I spend more than anticipated. Know the final tally then let’s get it under control. Let’s know what we are dealing with before the recovery process begins.

Money Saving Tips

• Reduce/cut expenses. This does not mean no more dining out or having fun, it simply means to find creative ways to save money.
• Use your gift cards
• Shrink the grocery bill
• Host a potluck/game night
• Return/sell items you do not use.
• Try skipping lattes or another indulgence this month, it could save you hundreds.

For more money saving tips, read Foolproof Budgeting Tips for Saving Money Now.

Prevention

Let’s try to prevent overspending for next year. If you start to save a little every month starting now, you have 12 months to build a holiday spending account. This savings account can eliminate or minimize your recovery for next year. Do a little now to feel a lot better later. Let’s start the New Year right!

Proverbs 21:5 – The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty.