Why people are broke after Christmas…

Don’t try to “up” yourself from last year or in front of friends/relatives if ultimately buying expensive gifts. It’s not worth overdraft fees and eating Cup O’ Noodles until your next paycheck.

Here are some of the reasons why folks go broke after Christmas.

• Going above and beyond on Christmas gifts — don’t do it if you’re on a budget. The littlest things go a long way. If your cousin asks for jeans for Christmas, hop online and find the least expensive jeans, or go to a store with a sale. Designer jeans are overly expensive and are similar to non-designer jeans, they won’t be able to tell the difference!

• Have you heard the expression of don’t put all your eggs in one basket? Well that applies to this as well. If by chance you are buying a big gift, try to see if there are payment options like a Lay-A-Way program. This will help you balance out that big cost.

• Buy an artificial tree! They literally last a lifetime and you won’t have to break the bank every year trying to get a Douglas Fir for $150. Big corporations like Home Depot or Walmart have sales on artificial trees every year – it’s worth it!

• You can’t buy gifts for everyone — this is one of the biggest issues why people break the bank. Even though your cousins’ – friend – girlfriends’ – sister is going over doesn’t mean you need to supply them with gifts. What you can do is stocking stuffers! These are inexpensive and go a long way without them feeling left out. Head to the Dollar Store and stuff it with necessities and candy. They’ll get excited that you even thought of them!