December Money Contest: Gift Yourself
This year we challenged you to save more , control impulsive spending and even earn extra money . We want you to gift yourself the latest installment of the Ultimate Money Challenge this year, saving you some of your holiday expenses.
We encourage you to save a percentage of the value of every gift you buy this year. Spent $ 100 on headphones for your significant other? Put 10% in a savings account. (If you don’t spend money on gifts, use this rule for other additional expenses, such as restaurants or gadgets.)
It’s easy to overspend on vacation. Many people give up on their financial goals, ruin their budgets, or worse, go into debt for holiday spending. This challenge is designed to help you avoid all of this. This encourages you to be more careful about your spending and ensures you save a little more to end the year on a high note. It’s even better if you start 2017 in the right direction. Maybe you spend your savings paying off debt, spending it on retirement savings, or just spending it on a fun purpose.
If you are in business, let us know. Based on your holiday budget, how much are you planning to spend this year and what percentage are you willing to save?