Avoid Christmas Debt

Are you trying to control your Christmas spending so you do not end up with unwanted Christmas debt. Here are more tips on how to avoid the Christmas credit crunch:

  1. Make a budget and stick to it. Set money aside ahead of time in a Christmas fund. Remember to prepare for those unexpected holiday invitations.
  2. Limit gifts to One Special Gift
  3. Use gift cards wisely — give someone gift cards towards a wish list while saving money on wrapping paper. Consider sharing the cost by combining gift cards towards a special, large item that someone really wants.
  4. Don’t buy to impress. Consider making your own presents, a personal touch can go a lot farther than an over expensive name brand item. Avoid that impulse to purchase something out of your price range just to impress or get the job done.
  5. Finally, and most importantly, NEVER borrow to finish your Christmas shopping. It’s very easy to overspend that way and credit card debt is expensive. Pay with cash and stick to your budget.

Follow these tips to avoid overspending during the Christmas season and ensure your start out the new year in good financial shape.

Download our free sample of Christmas budget, an excel worksheet that can help you plan your Christmas spending.

You can also prepare your budget on-line! Get a free, one-month trial of Calendar Budget now!

If you do find yourself with too much Christmas debt, a professional advisor can help you eliminate that debt and start fresh. Contact an advisor today.

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