It’s the most wonderful time of the year, they say, unless you’re talking about your finances.
From a money perspective, the holidays put a huge strain on family bank accounts, especially when all of those extras – like year-end tips – push your budget past its breaking point.
It’s so easy to get caught up in the holiday spirit of giving, or feel pressured into having to financially reward everyone with whom you’ve come in contact.
But while you want to find a way to thank everyone at holiday time, you shouldn’t have to deplete your limited cash reserves to do so.
January (and its fearsome pile of bills) is right around the corner.
That’s why I’ve learned to set aside extra funds to cover all of the holiday tips I want to give and to be a little stingy about who I reward.
Well, put in a more positive way, I’ve become more selective about who gets end-of-year tips or thank-you gifts, and to place reasonable limits on the presents I bestow.
Here’s how I suggest you do that.
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