OTTAWA, Dec. 5 /CNW Telbec/ - Are you the Great Spender during the
holiday season? Here are some winning Holiday Hints from CFP and author of No
Regrets, A Common Sense Guide to Achieving And Affording Your Life Goals,
Robert Abboud, to help you take control of your cashflow during the Holiday
Season. "By following these guidelines, you will either reduce or completely
eliminate that post holiday "spending hangover" when your visa bill arrives in
List and budget
Write the names of all the people for whom you are buying a gift and next
to each name, put a spending limit. Create a list for cards, wrapping paper
and postage. Add up all the amounts and decide if it is affordable.
Look for discounts
Once you have a list and a budget to work with, keep a lookout for sales
on the items you are looking for. Many retailers discount items well ahead of
Boxing Day to win your business.
Cash is king
Whenever possible use cash. This will force you to stick to your budget
and eliminate that head spinning credit card statement in January.
Plan for next year's holiday spending this January
For holiday budgeting to really work, you need to begin planning this
January. Let's say your gift budget for this year is $1200. Plan ahead for
2008 by saving $100/month. Set up a separate bank account and call it your
Holiday Spending Account.
For the full document visit www.lifegoalsplanning.com/holidayhints.pdf
Abboud's book, No Regrets, offers up a tried and true solution for this
through The Envelope System.
For further information:
For further information: Robert Abboud, CFP, (613) 841-8550,