Comments on: Avoid a Financial Holiday Hangover This Year http://genxfinance.com/avoid-a-financial-holiday-hangover-this-year/ Helping a unique generation achieve financial independence. Thu, 09 Feb 2012 18:21:30 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Brad@NorthwesternMutual http://genxfinance.com/avoid-a-financial-holiday-hangover-this-year/comment-page-1/#comment-123027 Brad@NorthwesternMutual Mon, 16 Nov 2009 19:58:00 +0000 http://genxfinance.com/?p=1806#comment-123027 Holiday Hangover, well said! Your comments about leaving the holidays in debt are spot on. It’s ironic- we all are looking for bargains, but if you purchase an item on a credit card where you are carrying a balance, the cost of that item effectively doubles if you carry the balance for 5 years at typical credit card interest rates. The $100 sweater you were so psyched to get for $80 because of a sale, actually ends up costing $160 when you add in the accrued interest. If you have credit card debt don’t forget gifts from the heart- homemade items or personal services like babysitting or help or assistance that a loved one might value more than another tie or picture frame. Frankly, after this year’s economic challenges I doubt people are expecting this to be a very extravagant gift year. Holiday Hangover, well said! Your comments about leaving the holidays in debt are spot on. It’s ironic- we all are looking for bargains, but if you purchase an item on a credit card where you are carrying a balance, the cost of that item effectively doubles if you carry the balance for 5 years at typical credit card interest rates. The $100 sweater you were so psyched to get for $80 because of a sale, actually ends up costing $160 when you add in the accrued interest. If you have credit card debt don’t forget gifts from the heart- homemade items or personal services like babysitting or help or assistance that a loved one might value more than another tie or picture frame. Frankly, after this year’s economic challenges I doubt people are expecting this to be a very extravagant gift year.

]]> By: Credit Girl http://genxfinance.com/avoid-a-financial-holiday-hangover-this-year/comment-page-1/#comment-122998 Credit Girl Fri, 13 Nov 2009 21:45:05 +0000 http://genxfinance.com/?p=1806#comment-122998 Last year, I splurged on people's gifts and I didn't really take into account how much I was spending until after I saw my bank account when the holiday season was over. This year, I'm already making a Christmas list so that I can shop for some people earlier and hopefully find better deals while finishing up the christmas shopping earlier ! =) Last year, I splurged on people’s gifts and I didn’t really take into account how much I was spending until after I saw my bank account when the holiday season was over. This year, I’m already making a Christmas list so that I can shop for some people earlier and hopefully find better deals while finishing up the christmas shopping earlier ! =)

]]> By: Angie http://genxfinance.com/avoid-a-financial-holiday-hangover-this-year/comment-page-1/#comment-122975 Angie Thu, 12 Nov 2009 20:47:48 +0000 http://genxfinance.com/?p=1806#comment-122975 I completely agree with making a list. If you click on my name, it will take you to a site where you can print free budget worksheets for the holidays. The worksheets cover everything from presents to meal planning to holiday attire. All the little extras always seem to be forgotten about and they really take a big chunk out of your budget. I completely agree with making a list. If you click on my name, it will take you to a site where you can print free budget worksheets for the holidays. The worksheets cover everything from presents to meal planning to holiday attire. All the little extras always seem to be forgotten about and they really take a big chunk out of your budget.

]]> By: Goran Web | Net Age http://genxfinance.com/avoid-a-financial-holiday-hangover-this-year/comment-page-1/#comment-122971 Goran Web | Net Age Thu, 12 Nov 2009 19:10:34 +0000 http://genxfinance.com/?p=1806#comment-122971 Credit Cards are the most devilish things out there. They really lure you into a false sense of security, and unfortunately you tend to use them when you really can afford the least to. My solution is simple, just don't ahve them, but few paople have that luxury. Good luck with your spending and a happy festive season to you all, folks! Credit Cards are the most devilish things out there. They really lure you into a false sense of security, and unfortunately you tend to use them when you really can afford the least to. My solution is simple, just don’t ahve them, but few paople have that luxury. Good luck with your spending and a happy festive season to you all, folks!

]]> By: Ken http://genxfinance.com/avoid-a-financial-holiday-hangover-this-year/comment-page-1/#comment-122968 Ken Thu, 12 Nov 2009 15:45:06 +0000 http://genxfinance.com/?p=1806#comment-122968 I have used Christmas club for years. I swear by it. Online savings with INGDirect is good as well. I have used Christmas club for years. I swear by it. Online savings with INGDirect is good as well.

]]> By: Best CD Rates http://genxfinance.com/avoid-a-financial-holiday-hangover-this-year/comment-page-1/#comment-122960 Best CD Rates Thu, 12 Nov 2009 06:27:42 +0000 http://genxfinance.com/?p=1806#comment-122960 You have suggested some good points here to avoid financial holiday hangover. I believe in maintaining a separate account for year ending holiday and shopping expenses. I have never faced any financial trouble later by this way. I think it is a brilliant way to avoid financial crisis later after enjoyment. You have suggested some good points here to avoid financial holiday hangover. I believe in maintaining a separate account for year ending holiday and shopping expenses. I have never faced any financial trouble later by this way. I think it is a brilliant way to avoid financial crisis later after enjoyment.

]]> By: Hank http://genxfinance.com/avoid-a-financial-holiday-hangover-this-year/comment-page-1/#comment-122955 Hank Thu, 12 Nov 2009 03:57:13 +0000 http://genxfinance.com/?p=1806#comment-122955 My wife and I use the reward points from our AmEx charge card and cash them in for gift certificates to our friends' favorite stores and restaurants. It is an easy, painless way to help our Christmas gift budget. My wife and I use the reward points from our AmEx charge card and cash them in for gift certificates to our friends’ favorite stores and restaurants. It is an easy, painless way to help our Christmas gift budget.

]]> By: Darla http://genxfinance.com/avoid-a-financial-holiday-hangover-this-year/comment-page-1/#comment-122953 Darla Wed, 11 Nov 2009 20:37:30 +0000 http://genxfinance.com/?p=1806#comment-122953 Budget but look for gifts all year long. You may find the perfect thing at an artist's fair in June or a thrift shop in Sept (as in the 6 antique cameras I picked up for my photographer brother for $20.00) Also set up a 'gift pantry' of little gifts that you can pick up on sale (like coffee mugs that can be filled with candy) for co-workers or last minute unexpected gifts. The pantry system can also work well for other gift giving needs too such as a birthday, graduation, anniversary or wedding. (I first read about this in a book titled Frugal Luxuries in the 1990s and found it works really well.) Budget but look for gifts all year long. You may find the perfect thing at an artist’s fair in June or a thrift shop in Sept (as in the 6 antique cameras I picked up for my photographer brother for $20.00)

Also set up a ‘gift pantry’ of little gifts that you can pick up on sale (like coffee mugs that can be filled with candy) for co-workers or last minute unexpected gifts. The pantry system can also work well for other gift giving needs too such as a birthday, graduation, anniversary or wedding. (I first read about this in a book titled Frugal Luxuries in the 1990s and found it works really well.)

]]> By: Craig http://genxfinance.com/avoid-a-financial-holiday-hangover-this-year/comment-page-1/#comment-122952 Craig Wed, 11 Nov 2009 20:18:14 +0000 http://genxfinance.com/?p=1806#comment-122952 Know who you are getting gifts for and roughly how much you are spending on each. Once you have that limit the rest should be easy. Don't go into debt just for gifts, try different types of gifts instead then. Know who you are getting gifts for and roughly how much you are spending on each. Once you have that limit the rest should be easy. Don’t go into debt just for gifts, try different types of gifts instead then.

]]> By: kenyantykoon http://genxfinance.com/avoid-a-financial-holiday-hangover-this-year/comment-page-1/#comment-122948 kenyantykoon Wed, 11 Nov 2009 18:01:19 +0000 http://genxfinance.com/?p=1806#comment-122948 this is always such a problem on january 2nd. Luckily i got this covered this year and i am not planning a repeat of last year's hangovers that lasted months. Am wiser now when it comes to finances than i was this is always such a problem on january 2nd. Luckily i got this covered this year and i am not planning a repeat of last year’s hangovers that lasted months. Am wiser now when it comes to finances than i was

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