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Browsing posts in: Spending Money
Nov 15, 2022    |       5 comments

Holiday Faux-Pas

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Gift Exchanges

There are lots of ways to do holiday gift exchanges for extended families – secret Santa, white elephant, no gift exchange, everyone exchanges gifts. Just to name a few.

In my family, we typically buy for each other’s kids, but the adults don’t exchange gifts. After my brother passed away (1.5-years ago), my mom started a new tradition of us simply having a Family Christmas Party – a time we all get together, enjoy baked goods, and go look at lights as an extended family.

In my husband’s family, they had historically bought gifts for everyone (adults and children alike). This year, to try to cut costs, one of his siblings suggested drawing names, so each person only buys a gift for one individual. I love this idea!

2022 Name Drawing

This year, my husband’s sweet aunt drew my name. A couple days after names were drawn, she texted asking me for the size of clothing that I wear.

Let me just say – I love his aunt. She is the sweetest, kindest soul. She is also crazy smart, is incredibly well read and traveled, and seems to know about everything. She really is the coolest.

That said….I do not think we have a similar “style” in clothing. And, frankly, I don’t want her buying me any clothes. I worry it would never get worn and end up as a waste of money, collecting dust in the back of my closet.

My Response

So how did I answer? I told her my size, but followed it up saying “Some ideas for me are: makeup brushes, immersion blender, food processor, and garden lights.” Basically, I tried to give several NON-clothing options that she could consider. We may not have the same style in clothing, but I’d be thrilled with just about any type of garden light there is.

When I told my husband about the text-exchange, he seemed to think I could still end up with clothes. He indicated that this is how his family is, and they tend to buy things based off of what they think you would like, and do not purchase off any type of gift list. This is foreign to me, as I would LOVE being given a list of ideas and picking something that I know the person likes and wants. But I also understand that may be seen as less work and maybe less thoughtful than coming up with my own idea(s).

What do you think?

Did I commit a holiday faux-pas by providing specific gift ideas? Should I just graciously accept whatever is gifted regardless of whether it will get any use?

What do your families do for holiday gift exchanges? Draw names? No gifts? Gifts for everyone? Something else entirely?

Have you started holiday shopping yet? I have not – but this recent name-drawing is reminding me that I need to get on the ball!

Nov 8, 2022    |      0 comments

5 Tips to Pay Off Credit Card Debt on a Tight Budget

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It’s no secret that credit card debt can be substantially dangerous. Interest rates can quickly make paying off your debt seem impossible, causing you significant to overwhelm and stress. Fortunately, there are a few key ways you can work on getting your debt under control. Here are some tips you can use to help pay off your credit card debt when you’re already on a tight budget.

1. Pay More Than the Minimum Monthly Payment

The first thing that you should do is to pay more than the minimum monthly payment. Doing this is going to shorten the length of time that it takes for you to clear your debt, and this is what you want to do. Make sure that these payments are made on time so that you don’t get charged hefty interest and other fees that may make it feel as though you’re not reducing your debt. This can demotivate you and make it harder to focus on clearing your debt and maintaining good mental health.

2. Switch to Cheaper Internet

The internet has become a staple of life, especially for the people who make a living through it. That said, you shouldn’t bring your life as you know it to a grinding halt, but you can look for cheaper internet to use. It’s possible to sacrifice speed without suffering a lot, so don’t try to hold on to expensive internet that you may not even be making full use of. Keep in mind that the global market for web hosting services is forecast to grow from a value of $102 billion to a value of $321.5 billion by 2025. This means that you may find more affordable internet hosting if you take the time to look.

3. Get Rid of Subscriptions

If you have subscriptions, it’s a good idea for you to cancel them, especially if you don’t use them a lot. This is true for subscriptions such as your gym membership and cable. Depending on the daily schedule that you have, you may find that you’re paying a lot of money for subscriptions that you don’t even have time to enjoy. That said, cut back on the subscriptions that you don’t use too much and incorporate at-home workouts in place of a gym membership and you can make some savings by doing this. It’s better to cancel a service that you use a little and subscribe afresh in the future than to keep paying for subscriptions that you hardly ever use.

4. Consolidate Your Debts

Another great way for you to pay off your credit card debt while living on a tight budget is to find a way to consolidate your debts. When you consolidate your debts into one account, you can chip away at the money that you owe by making a single payment every month. You’ll also get a new, lower interest rate, which may motivate you to keep paying off your debt slowly but surely. With a consolidated debt, you have a lower chance of forgetting about payment or delaying making it and getting fined for it.

5. Track Your Progress

Finally, keep track of your progress so that you know what you’re doing and how much further you have to go. This will prove beneficial to you, as you’ll see the fruits of your hard work and you can more easily keep doing what you’re doing. With a strategy that works, it will be a manageable task for you to pay your loan off more easily. When you track your progress, you may also spot patterns that are doing your efforts more harm than good and be able to remedy them.

Use these tips to pay off your credit card debt while living on a tight budget. You may learn a few new ways to keep your expenses low and this is something that you’ll benefit immensely from for the rest of your life.

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