How to stay out of debt this Christmas?
IT IS TOO LATE FOR THIS CHRISTMAS! 🙁
BUT, it isn’t too late!
If you want to know how to stay out of debt this Christmas, but you are worried you have not yet saved enough (OR ANY) money, the bad news is that it may be too late to do all of your Christmas shopping, without getting out the credit card and giving it a hammering.
BUT THE GOOD NEWS IS THAT NEXT YEAR IS A TOTALLY DIFFERENT STORY!
With a full 12 Months to get all of your ducks in a row, you can make next Christmas a winner, without worrying about using the credit card and getting into debt.
Here are my top 3 strategies to stay out of debt next Christmas:
1. Open a LTSS Account
An LTSS or Long term savings and spending account, is a separate bank account that you open up and deposit 10% of your income into every Month.
This account is used for any big ticket items that you want to save up for such as holidays, cars, big screen televisions or even a shopping spree.
More than one LTSS can be set up for a specific purpose, such as Christmas spending, or you can just use the money available in the one big LTSS account.
Having this account as part of a holistic money management system is the best way to save up for anything, and to stay out of debt forever.
2. 52 Week Money challenge
Last year I put the power of compounding interest to work and took up the 52 Week Money Challenge.
This is a simple little challenge where you start with putting $1 dollar into a jar in week one, then $2 dollars in week two, $3 dollars in week three, and so on, until you finally add $52 dollars in week fifty two for a grand total of $1,378.
A tidy little Christmas club amount indeed.
I had a lot of fun with it this year, so are YOU up to the challenge?
3. Add an Income Accelerator
If you really want to take control of your own financial future you need to add an income accelerator into the mix.
You can always get a second job, but I believe the best way that I personally have found to accelerate my income, is by starting my very own online business.
With the right tools, training and support everyone has the ability to create a secondary income to increase their cash flow.
You can start part time, and if you have the right attitude and desire, you can even replace your income totally and build a successful business.
Give yourself 12 Months now and make next Christmas a winner!
If you have any questions or comments feel free to leave them below.
To your success,
John W. Newman
Helping you create TIME AND FINANCIAL FREEDOM by building a PROFITABLE Business Online!
Dream It… Believe It… Then Achieve It!
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