Saving up for a house is exciting, but it’s also a major undertaking. The days and months pass and your savings account gets larger and larger. But then, suddenly, the holidays arrive and you start to worry about how to maintain your hard-earned savings during the season of gift-giving. Luckily, with a little extra care and planning, you can avoid holiday debt, stay on track with your budgeting goals, and keep saving to buy a home.
To help you get started, Birchwood's Damian Winther, along with other top financial experts from across the country, shared some of their best tips for avoiding holiday debt. So before you start your holiday shopping or take advantage of Black Friday deals, keep reading to learn how to stay on track with your savings goals this holiday season.
"Create a cash flow bucketing system. Don’t get snared by the dreaded holiday spending trap. Instead, continue earmarking and escrowing your hard‐earned dollars towards future household goals using a disciplined cash flow bucketing system."
Damian Winther, CFP® CSRIC™
Principal – Financial Advisor, Birchwood Financial Partners, Inc.