Use Existing Debt to Prevent Overspending

You know the importance of your budget and you know that sticking to it is imperative to having a stress and remorse-free holiday.  Then you are in the store getting gifts and you see this awesome toy that isn’t on your list but you know your kid will love and an entire display of $2.00 DVDs.  Oh, and that scarf would be adorable on your sister.  Okay, you’ll just take a quick look at the Dollar Spot… Suddenly you check out and the total is $100 more than you planned to spend and only one item in your bags is actually on your gift list. 

Sound familiar?  There is a way to help combat this type of impulse shopping and it doesn’t involve changing your shopping habits or way of thinking.  Using your existing debt to avoid overspending can help you combat this tendency to impulse buy and make you cognizant of what you’re spending and how it is affecting your overall budget.  Even better, you can continue to use this method long after the holidays have ended.

Use this simple method to help you use existing debt to prevent overspending!

 

[bctt tweet=”Use this simple method to help you use existing debt to prevent overspending!”]

 

Use this simple method to help you use existing debt to prevent overspending!

Calculate Your Debt

The first step is to calculate your total debt (all of it).  If you have a mortgage, the remaining balance you have to pay goes on the list.  Student loans?  You bet.  Any and everything that you owe money on (including personal loans) need to be on this list.

  • Mortgage
  • Student Loans
  • Credit Cards
  • Personal Loans
  • Auto Loans
  • Collections Items
  • Cell Phones you are Paying Monthly On
  • Medical Bills
  • Lines of Credit
  • Any Other Debt You Can Think Of

Add up all of your debts to find out your total amount of money owed.  If you have never taken the time to do this before, you may be shocked at the number.  That’s great because that means this will be even more effective.

 

Use this simple method to help you use existing debt to prevent overspending!

Make Your Debt Work for You

Once you have your debt total, write it on a piece of paper.  Put the paper in your wallet.  If you frequently use your debit or credit card, place your debt slip in front of it.  If you typically use cash, place it there.  Use multiples of your debt totals is you don’t have any standard spending style.

 

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Also write this total number on a larger slip of paper to place somewhere visible in your home.  This could be on your fridge, on the back of your front door, or anywhere that you will see it often.  Before you go out shopping, look at the debt total.  Use is as a reminder of why you set your budget and the importance of sticking to it.

When you pull out your payment method at the store, use your total debt as a reminder to only buy what you really need.  Can you really afford more debt?  Even small purchases that are outside of your budget can add up to hundreds in the long run.

Tip:

  • When you are first beginning, you may want to look at your debt cards multiple times throughout your shopping trip.  This keeps you from getting to the checkout and then letting the cashier know that you’ve changed your mind on 10+ items.

 

Use this simple method to help you use existing debt to prevent overspending!

Continue After the Holidays

This is such an effective way to prevent impulse buying that you will want to keep doing it long after the holidays have ended.  If you start to slip back, there is a bonus step you can take to keep the momentum going.

Bonus Step:

Every 3-4 months, reassess your debt.  Again, add everything up and total it.  Write it down and put the total with your payment method(s).  This is effective in one of two ways:

  • Your total has gone up and once you realize that it can help strengthen your resolve again.
  • Your total has gone down and you will want to continue the method to keep seeing the number drop further.

You already have debt so why not make it work for you?  This is a great way for you to start being in control of your spending and as such, in control of your money.  Check back on Sunday to learn another tool for keeping your budget in check.  And don’t forget to sign up for the 31 Days of Saving on Holiday Gifts newsletter to get tomorrow’s free gift tutorial. (Don’t worry, you don’t get an email every day, just the occasional update with all of your freebies and the most recent article.) **Update** All freebies from this 31 Days List have been moved to the VIP Library for subscribers. Sign up for free here!

See where I’m linking up!

  31 Days of Saving on Holiday Gifts: the free course to help you have you best holiday season yet! From building a strong budgetary foundation to finding small and large ways to save, this will help you knock your holiday gifts out of the park without breaking the bank!                                                     Check out #write31days

Missed the introduction to this series?                 Find out more about #write31day

Click 31 Days of Saving on Holiday Gifts.

Break the Machine and Save a Life: Interview with Carol Moulin of Café Sanctuary

Carol Moulin is an incredible woman who dedicates her time helping victims get the help and resources they need to safely set up in their new lives.As part of our Friday series to help victims of domestic violence (as well as raise awareness) we are interviewing Carol Moulin of Café Sanctuary.  Carol is an incredible woman who has overcome so much in her life and has now dedicated her time helping victims get the help and resources they need to get out of their situation and set up in their new lives.  (If you haven’t already, read the first post in the series here.)

**

DIY Adulation: What was your childhood home and life like growing up?

Carol: My childhood was a mix of ups and downs. I was the youngest of 3 and spent my life in a Catholic school. I couldn’t have lived in a better, more close-knit community. However, because my father was strict, I was very sheltered and, therefore, not allowed to do anything. My father was abusive and his eventual alcoholism exacerbated the dysfunction that ruled our household. My mother gave me the strength and stability I needed to get through the rough times. It was my relationship with her that saved me from a potentially destructive path; we had a great relationship which balanced things in a positive way.
I started writing at the age of 12 and it was what I needed to help me to “escape” while I was still in that situation. I didn’t realize that the interest in writing would eventually play a bigger part in my life and that I was actually laying the foundation for my purpose.

DIY Adulation: Do you think your past played any part in your marriage?  In what ways?

Carol: I think that my transition from “child of an abusive parent” to “wife of an abusive husband” perfectly illustrates just how difficult it is to break the cycle of abuse. As much as we try to never repeat the mistakes of the past, it takes time to realize that we must first learn how to live without the abuse or dysfunction. If abuse and dysfunction are all we know, we will have a greater chance of continuing those patterns throughout our lives.
When I thought I was escaping my abusive childhood by getting married, I didn’t care that I was getting married for all the wrong reasons. I have been married twice. My first husband wasn’t abusive, but he wasn’t an ideal candidate for marriage, either. I met my second husband soon after my first husband and I agreed to divorce. Again, I rushed into the second marriage because of the circumstances at the time. Because of my first husband’s poor choices during our marriage, we had to file for bankruptcy and so I was faced with either living with my parents until I got back on my feet or getting married {again} to avoid living with my father. I chose the latter because I thought anything was better than being under the same roof as him. There were hard lessons to learn and I certainly learned them.
I think my attitude toward relationships ~ wanting vs. needing a relationship ~ didn’t help. I know now that {believing I need a relationship} comes at a high cost. Putting my contentment and happiness in someone else’s hands gives away our power. When we conduct a relationship from a healthy place, because we want to be there, we are better able to recognize the need to walk away if when that relationship no longer serves us.

 

[bctt tweet=”It’s not an overnight process and we still have a long road ahead, cleaning up the mess he made before he passed away in March, 2013. #NOmore #domesticviolence”]

 

DIY Adulation: How did your marriage (and your mental health within the relationship) affect your children, if at all?

Carol: My marriage was a prime example of the most extreme outcome of an abusive situation and the ugly divorce that goes with it. If anyone wants to know what not to do, they only have to read the entries I’ve posted on the Café Sanctuary blog. I made mistakes in how I handled the situation, for sure, but my purest intention was to keep the children away from it, even if I seemed to be the only one in the world fighting for their protection. 

My daughter’s father didn’t care about what was best for her or the family; if that were not true, he wouldn’t have spent life making sure she didn’t bond with her mother. He wanted to cast me as an unfit mother just to prove that he was “right” about me and, in doing so, my children didn’t get the best of me, the mother they deserved. I spent their childhood sleep deprived and questioning my sanity and worth as a human being because of my ex’s need for control of everything.
The legal system turned a blind eye to everything he was doing and made poor decisions regarding my family without knowing all the facts. They played right into his hands without regard for the truth about what was happening. They only had to look at his unwillingness to cooperate throughout our divorce process to understand what sort of person he was.
My children and I have been out of that environment for 5+ years, but we’re still dealing with the residual effects, including PTSD, self-harm (daughter), depression, anxiety. Granted, things are better because he’s not here to hurt us anymore, but it’s not an overnight process and we still have a long road ahead, cleaning up the mess he made before he passed away in March, 2013.

**DIY Adulation: I would like to point out that this is an excellent example of the power and control that abusers have over their victims.  Two years after her abuser’s death and they are still going through the process of healing.  That is the absolute reality of people in these situations.

 

DIY Adulation: What made you decide to get out of the situation?

Carol: I started questioning my faith because I couldn’t understand why God was allowing such things to happen to me. I was severely depressed and isolated from my family and my health was greatly suffering. I couldn’t stand to be home or without sleep and knew that if I didn’t do something to change my situation, I might not survive; if the stress didn’t kill me, he might have, if the abuse had a chance to escalate. I’m convinced that my children are what saved me from regular physical beatings, but I think he was getting to a point where he didn’t care if they were around because he nearly attacked my son for standing up for me. I asked myself if I wanted to be in that situation in 6 months, a year, 5 years and my answer was a resounding “no”. I consulted with a marriage counselor who took me through a checklist of the types of abuse and instantly I realized that the abuse had started from the very day we met. Once I learned the magnitude of what I endured, I wanted to put as much distance between him and me as I could and there began my plans to make that happen.

DIY Adulation: What resources or allies did you use when starting over?

Carol: I didn’t have a lot of help throughout the process. I got doors slammed in my face more times than I care to remember. As a result, I quickly saw just how easy it was to give up and stay put. I had no visible marks that anyone could see which made proving the abuse almost impossible. The government refused me a house on that basis, but I appealed and won. The most valuable ally I had was my counselor; during the course of our weekly sessions over two and a half years, I learned so much about the dynamics of abuse and in doing so, found the courage and empowerment to escape and start over. My neighbors helped me with the practical things like receiving my mail and keeping important documents/possessions safe. They were great about remaining alert and watching for changes in my situation that might require calling the police. There were a couple of other organizations, one that had a basic outreach program that helped after I escaped but its services were limited; another organization helped me appeal the council’s decision to find alternative housing for me. I surrounded myself with only those I could trust but I also kept looking until I found the right people to help me.

DIY Adulation: What is your website about and what can victims find there?

Carol: Café Sanctuary provides support and resources for anyone who needs help at any stage of their process of escape. We have important information about abuse and safety; and a blog in so that we could share our experiences. It’s important that our clients know that we have been in abusive situations and completely understand what they may be feeling, thinking, experiencing. In addition to the information and blog, there are links to Café Sanctuary merchandise, news about projects we’re working on, {including our book which is almost ready for publication} and a podcast of a recent interview I’ve done for a radio show.

We talk more about our Outreach Service, which allows us to put our clients in touch with the agencies that can help them. When a client first calls us, we spend some time talking and learning more about their situations so that we can assess their needs (counseling, legal services, shelter accommodation, housing, college courses, etc.). We do the research, contact the agencies, articulate the needs specific to the individual. When we have a complete list of the agencies, telephone numbers, addresses and contact names, we pass the list on to our clients so that they can directly contact the agencies, already knowing about the sort of help they can offer. Because we do the research, it lessens the potential risk of discovery by their abusers.Carol Moulin is an incredible woman who dedicates her time helping victims get the help and resources they need to safely set up in their new lives.

We stay with the clients for as long as they need us, helping them in any way we can and our services are free of charge. For support beyond fleeing abuse, I offer life coaching services via telephone call or Skype. Initial consultation is free. In closing, I would just like to say that I appreciate the opportunity to share more information about my experiences and Café Sanctuary. We strive to provide the very best confidential support to our clients because we really do know what you’re going through…and we care.

For more information about Carol or to find resources for you or someone you know, please visit Café Sanctuary.  Carol and Martha offer help any way that they can (going above and beyond).  When Carol says that they care I can tell you that she truly means it.

Don’t forget that every Friday in October there will be a new post about domestic violence. I want you to help take a stand with women like Carol and Martha and say no more!  “No more tolerance.  No more secrecy.  No more cycle.  Break the cogs and the machine breaks down.  Break the machine with me and save a life.”

Raise awareness and learn more about this each week. Subscribe to our newsletter.


See where I’m linking up!

Making a Plan for Your Holiday Spending

Making a plan for your holiday spending is the last step of pre-planning for you holiday gifts.  You’ve already made a written budget but now you need to tell that budget where to go.  You can’t do that if you don’t make a specific plan for what to spend it on.  If you learn nothing else throughout this entire series, I want you to learn this: If you don’t control your holiday spending, your holiday spending will absolutely control you.

Affiliate links may be used in this post. Ordering a product through these links may result in a commission. Read the full disclosure here.

Making a plan for your holiday spending is important. If you don’t control your holiday spending, your holiday spending will absolutely control you.

 

[bctt tweet=”Making a plan: If you don’t control your holiday spending, your holiday spending will absolutely control you.”]

 

Making a plan for your holiday spending is important. If you don’t control your holiday spending, your holiday spending will absolutely control you.

Brainstorm Ideas

Once you’ve gotten your budget broken down by the people on your list and know your holiday gift options it is time to start brainstorming gift ideas.  Whether you are planning to buy or DIY, you need to develop a list of specific gift ideas for each person to prevent going over budget.  To do this, think about each person’s likes such as:

  • His or her favorite things
  • Hobbies
  • Also his or her sizes (if you know them)

Subscriber Exclusive Alert

Subscribers get a free printable gift planning map.  If you haven’t already signed up, don’t worry.  You can sign up now and get this freebie as well as the past freebies you’ve missed out on. **Update** All freebies from this 31 Days List have been moved to the VIP Library for subscribers. Sign up for free here!

 

Making a plan for your holiday spending is important. If you don’t control your holiday spending, your holiday spending will absolutely control you.

Batch Gifts

Now that you have an idea of what everyone is interested in, it’s time to think about batch gifts since these will save you the most money.  While normally when we think of batch gifts we think of homemade (which we will cover later in the series), don’t limit yourself to this thinking.  You can buy batch gifts as well.  You can get discounts for buying items in bulk and you can also purchase an item set that you then break down into multiple gifts.  Some examples would be:

 

Making a plan for your holiday spending is important. If you don’t control your holiday spending, your holiday spending will absolutely control you.

Determine Your Ratio of Buy, Thrift, and DIY

To determine what balance of the 3 holiday gifts options is right for you, you must first look at your gift idea list and your budget.  Your ratios could look like:

  • Buying 1 gift for each person and DIY-ing the rest
  • Purchasing every gift
  • An entirely thrifted holiday

Whatever combination you choose, it should reflect not only your gift budget but also your time budget.  You cannot reasonably choose to make all of your gifts when you work full-time, have 3 kids in 3 different extra-curricular activities, and have 2 upcoming trips before the holidays.  You simply don’t have the time to make everything (unless you started back in January).  Be honest with yourself about you availability when deciding your gift giving style.

 

Making a plan for your holiday spending is important. If you don’t control your holiday spending, your holiday spending will absolutely control you.

Have Concrete Ideas

You don’t have to strictly adhere to them but you need to have specific ideas written under every name on your list.  I also recommend denoting whether it is B (buying), T (thrifting), or D (DIY).  This will give you a clearly picture of what you need, including available time.  This also gives you a concrete list of items you are looking for so that you can achieve the best deal possible.  I also recommend carrying this list with you all of the time from now until you’ve completed it.  You never want to have to second guess whether you need something or not (including supplies for DIY gifts).  If you buy a gift or the supplies to make a gift, make a note on your gift planner.  This will make it easy to keep track of.

Complete all of the steps laid out in this series and you are well on your way to a budget-friendly holiday.  It is so important to get this foundation in place so that you have a clear goal and also a specific direction for your spending.  Next, we will talk about some tips for keeping your spending on track.  These will help you fight impulse buying and keep your hard-earned money in your wallet!

See where I’m linking up!

  31 Days of Saving on Holiday Gifts: the free course to help you have you best holiday season yet! From building a strong budgetary foundation to finding small and large ways to save, this will help you knock your holiday gifts out of the park without breaking the bank!                                                     Check out #write31days

Missed the introduction to this series?                 Find out more about #write31day

Click 31 Days of Saving on Holiday Gifts.