Money Matters: 4 Steps to Budgeting for the Holidays NOW, STEP 1!
The Holidays are fast-approaching. Cookies, cakes, pies, fat and calorie packed meals abound are not something we can make you resist. However, with our Friends at Learnvest.com, we can help you get through holiday madness with your FINANCIAL health intact. Yes, there is a way to celebrate the holidays in style and show everyone you love them, without winding up in the red yourself. Over the next four weeks, we will share with you four easy steps to budgeting for this year and of course gently remind you, search your name in our database for missing cash or Unclaimed Property we may have for you at www.wismissingmoney.com.
LearnVest lives by the 50/20/30 Rule, which states that 50% of your take-home pay should go toward essential living expenses like rent and food; 20% should go toward financial goals like retirement contributions and debt payments; and 30% should go toward your Lifestyle Choices, which are the personal, and often fun, decisions you make about your money. Lifestyle Choices often include things like your cable bill, charitable giving, entertainment, hobbies, etc.
Although holiday spending often feels essential (how can you notgive your mom a gift?), it falls into this 30% allocated to Lifestyle Choices.