Can you believe the end of October is almost here?!
I love this time of year: the pumpkins, crisp air, changing leaves, longer
nights, and of course, FOOTBALL! There truly is no magical time like the fall.
However, the fall season also means that the
holiday season is just around the corner. And if your family is like mine has
been the past couple of years, it also means stress about money. December rolls
around and you have zero money in order to buy gifts,
food, and gas for travel. So what happens? It all got put on credit cards which, subsequently, took several months into the new year to pay off. After another round of "how are going to pay
for…" last year, Mr. James and I decided that we needed to tackle the
Christmas beast head on from day 1. Hence, our new "Debt Free Christmas"
plan began.
It is quite simple really. We opened a new savings
account at the end of December 2013 that we dedicated strictly for saving up
money to put toward Christmas 2014. We set up a direct draft for the end of the
month every month of $50. By doing this, when December 2014 came around,
ideally we would have $600 to put toward Christmas expenses. $50 x 12 = $600
I know for some families, this many not seem to be
very much. However, this is directly in line with our attempt to get out of
debt and live a frugal life. If you need and can put more away each month, by
all means do so!! This is just where we are at currently in our life.
Using the $600, Mr. James and I have already bought all of our Christmas
presents for family and friends. What is left over, we will be using for
decorations and travel. Once the money is gone, it's gone, and we will not
spend any more for Christmas unless it is an emergency. It has been very
freeing to know exactly where we are at and that we will not be stressed in
December like we have been the past 3 years.
Debt free is truly the best way to go!
Happy October!!
Sincerely,
Mrs. James
