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.
Swap Names
If you have two or more people in your family, consider swapping names and buying gifts for just one person.
Here's an example. Let's say there are four people in your family. Each family member would purchase only one gift, which means only four gifts would be purchased in total.
If, on the other hand, each person bought gifts for the other three family members, 12 gifts would be purchased. (4 family members x 3 gifts apiece = 12 gifts) So by drawing names, it's possible to reduce your gift-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 lucky that my wife has a talent for making hair bows, jewelry, and Christmas ornaments. Many times she has used her skill to make gifts and save us money.
Don't Give Gifts
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 spending one Christmas without buying or giving gifts. Spend quality time with your family and friends instead.
Write a 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.
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.
Avoid Credit Cards
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. - 16492
Swap Names
If you have two or more people in your family, consider swapping names and buying gifts for just one person.
Here's an example. Let's say there are four people in your family. Each family member would purchase only one gift, which means only four gifts would be purchased in total.
If, on the other hand, each person bought gifts for the other three family members, 12 gifts would be purchased. (4 family members x 3 gifts apiece = 12 gifts) So by drawing names, it's possible to reduce your gift-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 lucky that my wife has a talent for making hair bows, jewelry, and Christmas ornaments. Many times she has used her skill to make gifts and save us money.
Don't Give Gifts
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 spending one Christmas without buying or giving gifts. Spend quality time with your family and friends instead.
Write a 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.
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.
Avoid Credit Cards
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. - 16492
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