The latest from our Heart and Soul
Now that the holidays are approaching again, it's often a time of reflection. Looking back over the year, surprised how crazy fast it has gone. Wondering where all the time went. 
For some, we are also wondering how we will afford yet another holiday season. All the gifts, food and extras we'll be forking out. Did you save money for the holidays?
A small percentage of us have budgeted for this event. As you know, it comes every year, at the same time. So, those that plan ahead are ready for the season, with a lot less anxiety I'm sure.
The other large percent of us haven't planned, didn't save money and are winging it once again. Swiping plastic, spending more than we make and digging a nice big hole for ourselves.
Which leads me into the following 5 myths:
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Myth #1 - I will pay off the credit card bill after the holiday season.
Odds are, you won't. And by using a credit card, you are likely to spend more. A study of credit card use found that people spent 47% more when using credit instead of cash. There is time left to budget. Put aside some of your hard earned money. Determine how many gifts you will be purchasing, put a cap on it and pay in cash.
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Myth #2: - I don't need to plan my holiday shopping. I'll just pick up things here and there when I get some free time.
Impulse shopping will only dredge more money out of your pocket. Plan your shopping (around sales) and spend consciously. Random purchases are going to eat your budget alive.
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Myth #3 - Saving money by making holiday gifts is cheesy.
Absolutely not. Making gifts can be very special (and can save money). If you have some creative talents, get busy. If you love to cook, get on it. If you have no skills, offer your time. (You could babysit kids for free). There are a ton of beautiful and resourceful DIY sites that can help you out with this one.
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Myth #4 - It's okay to treat myself too. It is the time for giving after all.
Don't do it. You have all year to shop for yourself. You'll end up spending twice as much if you head into the mall with a "one for her, one for me" shopping mindset. Figure out a solid spending plan and you'll be safe.
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Myth #5 - I can keep track of my spending in my head. A good ball park figure is all I really need.
Ah, no. Spend less money by tracking the gifts you intend to buy or make. Record the amount of money you spend on each person. This will help you stay within your budget.
So, leave your credit cards at home. Formulate a shopping plan including the full list. Save money. Don't buy anything if you can't afford to pay for it in cash. Happy Holidays!
