One of the hardest times of year to keep from going in debt is Christmas. Here are a few tips for having a memorable Christmas without the debt.
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!
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.
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.
Don't Use Credit
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.
An extra benefit: You can rest easy in January knowing you won't get a credit card bill with a huge balance.
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!
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.
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.
Don't Use Credit
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.
An extra benefit: You can rest easy in January knowing you won't get a credit card bill with a huge balance.
About the Author:
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