My Best Finance Tip for 2013 + a $100 Cash Giveaway

I am proud to be a part of a fun personal finance blog project and giveaway organized by Jeffrey over at Savings Advice.com. The theme of this giveaway is appropriately ”Finances in the New Year” where every personal finance blog documents their best tip for 2013. So without further ado, here is my entry followed by the easy entry form to win $100 cash via PayPal. Make sure to get yourself entered!

Avoid Christmas Debt in 2013

This tip is perfect as we come down from the craziness of the holiday season. Many of you may be worried about the credit card bill that will be arriving in a week or two. Perhaps you went over your gift buying budget or perhaps you didn’t have a budget at all. For many years I would just swipe the credit card all December long then stress about paying the bills come January. If you’re in that category this tip may be just what the doctor ordered.

The tip is a pretty simple one but requires a little planning. Buy Christmas gifts all year long! Figure out what you want to spend on gifts, this should be pretty easy as you probably have a good idea what you just spent this year, then divide that number by 12 months. That is your monthly budget for gift buying. The cool thing about this tip is you can buy items when they are on sale or when you stumble across a great bargain. Because of this, I have found that I almost always come in under budget. Buy it, store it until Christmas, and completely avoid the huge credit card bill come January.

I challenge you to give it a try. I think you will be pleasantly surprised with how effective it is. Also, keep in mind that some months you may find a bunch of great deals and go over your budget which is fine. This is inevitable, and what typically happens is you’ll naturally spend less the following month. By December 1st most of your gifts will be bought and you can enjoy the season even more.

9 Responses to “My Best Finance Tip for 2013 + a $100 Cash Giveaway”

1. Glen @ Monster Piggy Bank on January 1st, 2013 5:34 am

   Buying gifts earlier in the year can save you a lot of money, provided you are sure the person will still like the gift when it’s Christmas time and that they won’t go and buy it themselves.
   Glen @ Monster Piggy Bank recently posted…Get Smarter About Money In 6 Steps

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2. Martha on January 1st, 2013 5:42 am

   Increase amount added to the savings account this year.

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3. Jessie C. on January 1st, 2013 8:11 am

   Make a better grocery budget

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4. DC @ Young Adult Money on January 1st, 2013 9:36 am

   That’s a great tip! At minimum I would like to set aside money throughout the year specifically for Christmas gifts.

   Happy New Year!
   DC @ Young Adult Money recently posted…Get Financially Fit in the New Year – $100 Giveaway

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5. Canadian Budget Binder on January 1st, 2013 9:51 pm

   What we do is draw names in January and that leaves us all year to budget and shop for Christmas gifts. That seems to work out great for us. Mr.CBB
   Canadian Budget Binder recently posted…Finances In The New Year + New Budget = Success Formula

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6. Vaptisi Prosklitiria on January 2nd, 2013 6:06 am

   Great idea Kyle and thanks for share it with us!
   The only problem is that we lost this season so our goal is now the end of 2013!
   I also like to notice that you can find great bargains during the year for many things and this way you can save big money!

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7. Miss T @ Prairie Eco-Thrifter on January 2nd, 2013 7:36 am

   We often buy gifts for people when we see them and they are often on sale then.We save them until the occassion happens. I find it works really well. We also have a gift budget like you suggested that we allot money for every month.
   Miss T @ Prairie Eco-Thrifter recently posted…How to Prevent Three Common Disastrous Personal Financial Mistakes

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8. Holly@ClubThrifty on January 3rd, 2013 7:22 am

   Buying Christmas gifts all year long is a great idea. I like to buy winter clothes on clearance for my kids in the next size up…then save them for the next Christmas!!!
   Holly@ClubThrifty recently posted…Can You Afford to Live Until You’re 90?

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9. Ellen B on January 9th, 2013 5:57 pm

   try to find more coupons

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