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Saving Money During The Holiday’s

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    Christmas Day is only ONE WEEK away!  Where has 2015 gone?  While most of you are no doubt almost finished with your holiday and Christmas gift buying there is still time to avoid going into debt and save money and at FIRMS, the premiere debt collection company, we are hoping to help you do just that.

    According to an article written at Daily Mail, 1 in 3 people will go into debt during the holiday season!  We at FIRMS want to make sure we don’t see your name on one of our future contact lists and so we have created a few simple tips and tricks that you can use this holiday season to help you spend less, save more, and avoid going into debt.

    The easiest thing to do at Christmas time is spend money.  With all the Christmas and New Year’s parties to attend, the traveling during the holidays, and the gift buying, there is no doubt that December will be an expensive month for most people.  Follow some of these steps below and you’re guaranteed to save some money.

  1. Make sure and track your spending.  Keeping track of your spending by writing down every purchase you make at the end of the day will help you put into perspective how much money you have going out of your checking account and wallet.  Go out and buy a little notebook and start writing down every purchase you make.  It helps to cut down on those extra purchases that add up in the end.
  2. Pay with cash.  It is all too easy to charge everything on your credit card or your check card.  But studies show that we have a tendency to spend more when we pay with a card over cash.  Go online and do your shopping, then go to the store and buy your gifts suing cash and LEAVE YOUR CARD AT HOME!  If you bring just enough cash and leave your card at the house you will be less likely to buy those extra gifts you can’t afford.
  3. Budget! Budget! Budget!  If you haven’t already set a budget for your monthly expenses and bills GO DO IT NOW.  Seriously, you need to have a handle on the money you have coming in and going out.  Being aware of what you have available in your checking account will prevent you from overspending on gifts and then being cut short on your bills when they are due.
  4. Think outside the box.  When it comes to gifts remember that some of the best gifts you can give is your time and talent.  Maybe you can offer to help a friend clean up their computer?  Or you can offer to babysit for a date night for friends or family in lieu of buying a gift.  Invite friends over for a movie night or have them over for a dinner party.  These are little ways to share more of the spirit of the holiday season and save yourself some money at the same time.

    Remember, the holiday’s are mainly about having time to share love with your friends and family and less about spending exuberant amounts of money on gifts we won’t remember next year.  So this Christmas, leave your credit cards at home and spend some extra hours close to the one’s you love the most and you’ll have priceless memories for years to come.

Happy Holiday’s from the best debt collection agency in the business,

  • FIRMS.

Saving Money To Avoid Going Into Debt

Nobody wants to get a notification from a debt collection agency that they have an outstanding debt, even if it’s from an amazing debt collection company such as FIRMS (we’re a little bias).  Nonetheless, we at FIRMS have written a post to help you plan for your financial future and avoid falling into unnecessary debt.

Life can bring a variety of uncertain twists and turns and without being properly prepared for those funny little bumps in the road  we can find ourselves struggling to financially handle them.  When life brings those twists and turns and we are unable to financially pay for them, we can begin a life of debt in order to cover our unexpected bills.  However, establishing a proper savings account can help us avoid going into unnecessary debt and can keep us financially liquid and stable for the rest of our lives.

There are 4 main twists and turns that can cause us to go into debt if we are not prepared.

  1. Unexpected Medical Bills.
  2. Sudden loss in employment.
  3. Significant life changes.
  4. Divorce.

Most of these financial hiccups can be handled without being forced into debt if we are properly prepared and we can properly prepare by simply saving money.  Some experts suggest having three months of expenses in your checking account at any given time along with having a separate emergency fund in order to be adequately prepared.

If you don’t have any form of savings for those emergencies and unexpected financial burdens in life, we suggest starting with a basic emergency fund where you will save $1,000.  Saving an initial $1,000 is important because it will help you focus on putting money away and it won’t make the process of saving seem so daunting.

Once you have your initial $1,000 emergency fund saved you can begin setting more money aside to build your main fund of having two-three months of expenses saved and available, should you experience a sudden financial burden.

We have 5 top ways to start saving money today.

  1. Set a budget…AND STICK TO IT.  Don’t allow yourself to deviate from your budget once it’s set.
  2. Don’t stress spend.  Most of us tend to make little purchases whenever we want to or when things get stressful but those purchases can add up fast!
  3. Eat out less and cook more.  Going out to restaurants for your meals can get expensive, especially if you’re doing it more than once a day.  Start cooking your meals at home, it will save money and bring your family closer together too.
  4. Save anything and everything.  You found an extra $3 in the laundry?  Put in your savings account instead of spending it.  No matter how big or small the amount is, put it in your savings account, you’ll be amazed how fast your savings account can reach your goal.
  5. Wait 30 days before making a significant, non-essential purchase.  Thinking of buying that new $60 video game?  Wait 30-days.  You’re less likely to make those insignificant purchases after 30 days and those $60 video games can add up fast and keep you from reaching your savings goals.

Saving money for unexpected life events and bills can be fun and easy when you put your mind to it.  Don’t be intimidated by the number you need to save, start saving now and you’ll be surprised at how quickly you reach your goals.  Your future self will thank you for it.

 

  • FIRMS.