The holiday season is also synonymous with giving gifts and celebrating. Giving gifts and eating out on the other hand are synonymous with spending lots of cash. With all the hustle and bustle that Christmas and New Year has in store, it's easy to lose track of the hard earned money you made from working your ass off in the office.
In this case, you need a solid plan to keep yourself from burning a hole in your wallet.
If you don't want to end up broke even before 2017 kicks in, we suggest you put your cash somewhere it will be of good use.
Follow these tips so you'll feel less crappy when you spend your money:
1) Break it off into a fun fund
"Put your money aside, preferably into groups, depending on what you want to spend it on," says financial advisor Melissa Gaton. Whether you want to do something extreme like Base Jumping or Skydiving, at least you'll have money stashed away without splurging your entire bonus.
2) Pay your debt or a forgotten bill
Gaton says that not only will you feel less guiltyafter, you'll also be able to start the year without added stress.
3) Wait for a sale
If you really want to buy those expensive Brogue shoes or that sexy-looking shirt, then wait for a sale," says Gaton. You'll be glad to buy the thing you like most for less without busting your bank account.
4) Fix something broken
It's time for you to repair that broken shower or busted TV using the money you earned during the holiday season. "Seeing that your work's pay went to something you could use again would feel better than spending on things you won't really be able to use in the future," advises Gaton. Plus, your pad will look so much better once everything is in order again.
There's a saying that if you want to spend your money, spend it on experience and not on things. According to Gaton, you surely won't feel guilty spending your cash on a trip to Bangkok with your family or significant other. The memories and happy feeling will be with you forever.
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