Lesko Financial Focus: Plan a Debt-Free Holiday
Despite many consumers cutting back, there remains a strong temptation to overspend during the holiday season. Greg Lesko of Lesko Financial shares his insights and strategies to keep costs under control.
"Even with many consumers scaling back, there’s a temptation to overspend on the holidays." - Greg Lesko
One of the most common mistakes people make during the holidays is relying on credit to finance purchases, which can lead to long-term financial stress. To avoid this, it’s important to plan ahead and set a budget that aligns with your financial goals. Greg Lesko offers practical advice on how to stay within your means and still enjoy the season.
Tips to Stay Debt-Free During the Holidays
- Create a Budget: Before you start shopping, decide on a total amount you’re willing to spend on gifts, food, and entertainment. Stick to this budget to avoid overspending.
- Use Cash or Debit Cards: Avoid the temptation to charge purchases to credit cards. Using cash or a debit card helps you stay on track.
- Plan Ahead: Shopping early and taking advantage of sales can help spread out costs and avoid last-minute splurging.
- Consider Experience Gifts: Instead of buying material items, consider giving the gift of experiences, which can be more meaningful and less expensive.
By following these tips, you can ensure that the holiday season remains enjoyable without the added burden of debt.
Additional Insights from Greg Lesko
Lesko emphasizes the importance of setting realistic financial expectations for the holidays. "It’s all about planning ahead and being disciplined in your spending. The goal is to enjoy the holidays without the financial hangover that comes in January," he says.
By approaching holiday spending with a well-thought-out plan, you can avoid the stress that often comes with overspending and instead focus on creating memorable experiences with loved ones.
"The goal is to enjoy the holidays without the financial hangover that comes in January." - Greg Lesko
Author's Summary: Greg Lesko offers practical advice for avoiding holiday debt through careful budgeting, planning, and mindful spending, ensuring a stress-free holiday season.