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.
Do a Name Swap
If you have two or more people in your family, consider swapping names and buying gifts for just one person.
Example: If there are four people in your family, then each family member would purchase only one gift. That would be four gifts purchased by the whole family.
If each person bought a gift for all three individuals, that would be 12 gifts total. So by doing a name swap, you can cut your gift giving (and spending) by 200%.
Make Your Gifts by Hand
Do you have a skill for making things? Then consider making your gifts instead of spending money to buy them!
I'm fortunate that my wife is a incredibly talented. She makes jewelry, hair bows, and ornaments and gives them as gifts at Christmas time, which is a big money-saver.
Go "Gift Free"
There is so much abundance and wealth in the U.S., we hardly "need" anything. So is it really necessary to go nuts and spend a small fortune on gifts?
Consider putting a moratorium on Christmas gift-giving for one year. Focus on spending time with people you care about.
Write a List
If you choose to buy gifts, then write a list of gifts you plan to buy before you go shopping. Know in advance how much money you have to spend.
Shopping without a purpose quickly leads to overspending and debt. But if you have a clear "game plan," you'll survive with little damage to your pocketbook.
Leave Credit Cards at Home
Only use cash or a debit card when you buy gifts. Do not use credit cards. Since you're spending more money than usual in a short period of time, it's too easy to overspend.
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.
Do a Name Swap
If you have two or more people in your family, consider swapping names and buying gifts for just one person.
Example: If there are four people in your family, then each family member would purchase only one gift. That would be four gifts purchased by the whole family.
If each person bought a gift for all three individuals, that would be 12 gifts total. So by doing a name swap, you can cut your gift giving (and spending) by 200%.
Make Your Gifts by Hand
Do you have a skill for making things? Then consider making your gifts instead of spending money to buy them!
I'm fortunate that my wife is a incredibly talented. She makes jewelry, hair bows, and ornaments and gives them as gifts at Christmas time, which is a big money-saver.
Go "Gift Free"
There is so much abundance and wealth in the U.S., we hardly "need" anything. So is it really necessary to go nuts and spend a small fortune on gifts?
Consider putting a moratorium on Christmas gift-giving for one year. Focus on spending time with people you care about.
Write a List
If you choose to buy gifts, then write a list of gifts you plan to buy before you go shopping. Know in advance how much money you have to spend.
Shopping without a purpose quickly leads to overspending and debt. But if you have a clear "game plan," you'll survive with little damage to your pocketbook.
Leave Credit Cards at Home
Only use cash or a debit card when you buy gifts. Do not use credit cards. Since you're spending more money than usual in a short period of time, it's too easy to overspend.
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:
Did you know Americans are paying off debt at a faster rate than ever before? It's a fact. Discover how you can pay off your debt fast when you request my free debt reduction strategies PDF report. It's currently available for immediate download.
posted by Debt Consolidation Loan at
1:03 PM
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