Avoid Christmas Debt
It's exceptionally hard to avoid taking on additional debt during the Christmas season. Maybe it's unrealistic expectations about gift-giving; or maybe it's just poor budgeting. Whatever the case, here are few tips for enjoying Christmas -- and leaving the debt behind.
Trade Names
If you're buying gifts for multiple people in your family, then consider drawing names and buying one gift for just one person (instead of everybody).
For instance, if there were four people in a family, each person would buy just one gift: four total.
On the other hand, if each family member bought a gift for the other three, then the family would have purchased 12 gifts total. So by trading names, you can reduce your spending by 200%.
Make Your Gifts Yourself
Are you good at making crafts? Then why not make your gifts yourself instead of buying them!
My wife is good at making jewelry, ornaments, and hair bows. She's used her skill to save money during the holidays.
Have a No-Gift Christmas
With as much abundance in the U.S. as there is, is it really necessary to buy a bunch of gifts? Do any of use need more stuff anyway?
Consider spending one Christmas without buying or giving gifts. Spend quality time with your family and friends instead.
Create a Gift List
If you decide to buy gifts, then don't set foot in a retail store without knowing exactly what you're getting -- and exactly how much you plan to spend.
Just "shopping around" is a recipe for disaster. You will likely buy things on impulse and spend more than you planned. But if you create a plan and follow it, your bank account will thank you.
Avoid Credit Cards
When buying gifts, use cash or debit -- but avoid using credit. Since you're spending a lot of money in between the statement cycle, it's too easy to lose track of what you've spent.
What's more, by leaving your credit cards at home, you won't get any unpleasant surprises when the December bill shows up in your mailbox in January.
Trade Names
If you're buying gifts for multiple people in your family, then consider drawing names and buying one gift for just one person (instead of everybody).
For instance, if there were four people in a family, each person would buy just one gift: four total.
On the other hand, if each family member bought a gift for the other three, then the family would have purchased 12 gifts total. So by trading names, you can reduce your spending by 200%.
Make Your Gifts Yourself
Are you good at making crafts? Then why not make your gifts yourself instead of buying them!
My wife is good at making jewelry, ornaments, and hair bows. She's used her skill to save money during the holidays.
Have a No-Gift Christmas
With as much abundance in the U.S. as there is, is it really necessary to buy a bunch of gifts? Do any of use need more stuff anyway?
Consider spending one Christmas without buying or giving gifts. Spend quality time with your family and friends instead.
Create a Gift List
If you decide to buy gifts, then don't set foot in a retail store without knowing exactly what you're getting -- and exactly how much you plan to spend.
Just "shopping around" is a recipe for disaster. You will likely buy things on impulse and spend more than you planned. But if you create a plan and follow it, your bank account will thank you.
Avoid Credit Cards
When buying gifts, use cash or debit -- but avoid using credit. Since you're spending a lot of money in between the statement cycle, it's too easy to lose track of what you've spent.
What's more, by leaving your credit cards at home, you won't get any unpleasant surprises when the December bill shows up in your mailbox in January.
About the Author:
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posted by Debt Consolidation Loan at
1:44 PM
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