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Queen of Free: Stay on track with holiday budget planning

Before you speed into the holidays, it’s a good time to press pause and chat about your budget.

INDIANAPOLIS — The holiday season seems to be flying at us in fast motion. Black Friday sales are already live and many are already decorating for the holidays. But before you speed ahead the calendar by over a month, Cherie Lowe, the Queen of Free, says now is a good time to press your pause button and have a little chat with your spouse or partner. Or, use a close friend or trusted advisor whose finances you want to emulate. 

Your budget is going to take a hit for gifts, Christmas cards and an increased energy bill to power those twinkling lights.

On her website, Cherie posted Seven FREE Printable Christmas Budget Forms to help you plan.

Once you determine how much you’re going to spend, you may need to edit your gift list, and that may involve some uncomfortable conversations. Check out Cherie's Uncomfortable Christmas Gift Giving Conversations for tips on how to navigate this tricky territory.

Try to avoid slipping into the trap of buying “just one more” for your children.

If you haven’t planned ahead, you may find yourself thinking of ways to scratch up extra cash. You may have rewards points you can cash out. Is there a big bucket of change you can wrap and take into the bank? Are there odd jobs you can pick up for seasonal income? 

Try to avoid putting your holiday expenses on credit cards. It’s not worth putting your financial future in jeopardy to have the “perfect” Christmas. 

If you’re in a position to be able to do some year-end giving, whether to your favorite church or charity or to fill an envelope with cash to drop off anonymously, think about who you may give to and how you’re going to do it. And you can be generous without money by serving and giving your time. Collect donations. Clean out your closet or cabinets and make a thrift store trip.

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