While going into debt at Christmas is common it doesn’t have to be. You don’t have to pay for this year’s Christmas until it rolls around again next year.
With proper planning, you can have a good Christmas without going into debt. Let’s take a closer look.
Instead of buying gifts for everyone in your extended family, make the suggestion to draw names. This will greatly cut down on the money spent on gifts.
Choose a budget everyone is comfortable with and then get together to draw names or do so on Zoom. Everyone will feel the relief of less financial burden and less stress from shopping for so many people.
Many years ago, we started only buying gifts for my husband’s parents and then the 7 nieces and nephews (and NOT their parents). It was just TOO much to shop for everyone, so it was easy to get everyone to agree.
Start Shopping NOW
Each week, spend a bit of money on Christmas. You can start shopping for baking and meal ingredients now.
There are great deals in the weeks leading up to Thanksgiving and Christmas. Buy a bit here and there and you’ll spread out the cost, making it easier to afford. Just remember to hide the chocolate chips and Christmas candy well so that the little ones don’t get into it.
This also gives you a chance to hit several sales before the big day AND hit those clearance racks. Stores will be unloading a lot of merchandise to make room for new items for Christmas. Snatch up those deals for inexpensive Christmas gifts.
Sell Items Online
We all have stuff around our homes that we no longer use. Turn those items into cash by selling them on eBay, Mercari, Poshmark, or Facebook Marketplace. You can also sell items through Facebook yard sale groups.
The process of decluttering AND getting paid to do so is wonderful. Plus, the extra cash will definitely come in handy.
Keep It Simple
There are so many ways to keep things simple around the holidays. For example, instead of buying new Christmas decorations, find ways to reuse what you have. You can get crafty and change the look to match your current style.
Another tip for keeping it simple is to choose one gift to purchase all the neighbors, coworkers, etc. For example, buy everyone a box of chocolates. This saves time and saves money because you’re buying everyone the same thing. You don’t have to worry about trying to find gifts that match the price of another gift.
Christmas doesn’t have to cause financial stress. Remember, the holidays are about so much more than gifts and big meals. Focus on what’s important and do the best you can with the rest. It’s not worth going into debt for.