How to Have a Debt-Free Christmas
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.
Swap Names
If there are three or more people in your family, consider picking names. Have each person draw one name and buy just one gift for that 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 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 Yourself
Are you good at making crafts? Then why not make your gifts yourself instead of buying 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.
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.
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.
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.
An extra benefit: You can rest easy in January knowing you won't get a credit card bill with a huge balance.
Swap Names
If there are three or more people in your family, consider picking names. Have each person draw one name and buy just one gift for that 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 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 Yourself
Are you good at making crafts? Then why not make your gifts yourself instead of buying 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.
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.
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.
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.
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:
Did you know Americans are paying off debt at a faster rate than the previous 10 years? It's a fact. Learn how you can pay off your debt fast when you request my free debt reduction PDF report. It's currently available for immediate download.
posted by Debt Consolidation Loan at
1:32 PM
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home