The holidays are over and it’s time to measure the damage they caused to your finances.
Capital Budget Strategies, LLC, Austin best Financial Coach, has seen many clients go deep, or deeper, into debt over Christmas gifts. One client, already heavily in debt, spent $1,000 on gifts for her children. The kids had a great holiday, but now Mom is struggling to pay for it all.
Next year, wouldn’t it be nice to have all the money you need for gift buying just waiting for you? Imagine not having credit card bills in 2021? How is that possible?
One word: Budget.
If our client wants to spend $1,000 next Christmas, we recommend saving $84 a month in a “Holiday Account.” If she did, there would be $1,008 available for her in December 2021. If she found that she could not afford $84/month, she has two options:
OPTION 1: Plan to spend less next year.
OPTION 2: Earn additional income to increase her savings.
Notice we did not suggest “borrowing” $1,000 from Visa at 19.5% interest. We teach, “If you can’t pay cash for something, you can afford it.”
For only $149, the Austin Money Coach at Capital Budget Strategies, LLC can help you get financially ready for next year! First, we determine your Net Worth, then analyze your spending, set up a monthly Budget, an Emergency Fund and a Snowball Debt Repayment Plan (If needed). Then we will review your retirement savings and introduce the wonders of on-line banking.
Our Austin Financial Coach can meet at your office, your home or our home-office. We can meet during the day, in the evening and even on weekends.
Give us approximately 4 hours and we’ll build your financial confidence!
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