Your Lake of the Ozarks Mortgage Lender: Enjoy a Stress-Free Holiday Season with these 5 Budgeting Tips

The Holidays can be a stressful time of year. You're trying to balance the extra expense of extravagant foods and Christmas gifts with your monthly expenses such as car payments and your mortgage at the Lake of the Ozarks. These tips from the Mortgage Market Guide will help you budget for a stress-free holiday season!

1. Examine Last Year's Spending.

Before you start this year's holiday shopping, review what you spent last year. Take out your old credit card receipts or bank statements and add up the extra holiday expenses. Be sure to include everything from gift wrap and cards to entertainment and food, in addition to the actual presents you purchased for others.

2. Evaluate Those Past Purchases.

Of those purchases last year, how many of them could you try to avoid this year? Can you reduce your gift buying list or reduce the amount you spent on each of those gifts? Being less extravagant with your purchases and hunting for the best bargains can help you avoid debt this holiday season.

3. Create a Budget for This Year.

Once you have an idea of what you spent last year and what you're going to need to buy this year, start setting up a budget. Your budget should be based on money you currently have, not on how much you can borrow. If your income or expenses have changed in the last year, be sure to account for that as you're budgeting. You don't want be struggling to make payment on your home loan at the Lake of the Ozarks come January.

4. Create a Detailed Shopping List.

Once you have your budget, use it to create a detailed shopping list. You'll need a list of recipients along with columns for the gifts you intend to buy and how much you can spend on each. As you shop, keep track of your spending by marking it on the list. If you overspend on one gift, be sure to make up the difference on another so you don't end up over budget.

5. Avoid Impulse Buying.

Watch out for impulse shopping; it can easily ruin your good intentions. Don't do anything "last minute," as that is always more expensive. You need time to shop around for the best deals. It's tempting to look at a budget as a restriction, but honestly its there for your own protection.

By planning in advance, you can give yourself the gift of a financially stress free holiday! As your Lake of the Ozarks mortgage lender, I understand the importance of finances. If I can help you in any way with a home loan or refinancing, please don't hesitate to call me at 573-746-7211. I'll discuss financing options, offer competitive interest rates and back it up with the first class service you deserve!

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