The Christmas season is the season of giving and spending. At the same time, it doesn't mean you have to dig a hole for yourself by financing everything on credit. Otherwise, how will you feel when your credit card bill arrives in January?
There are many ways you can avoid allowing this to happen, and here are some tips to help you avoid the debt.
Don't go after any really big Christmas gift. Do you want to go into debt because of a single gift? Keep in mind all the other holidays ahead -- birthdays, weddings, anniversaries, baby showers, graduations and more. If you spend it all at Christmas, you will have nothing left for a whole year!
You do not have to compete with friends and family to one-up them with Christmas gifts. If you allow your competitive nature to take over, you will ring up credit card bills that will give you a coronary disease a month later!
Buy only one gift for each person and set a limit on how much it should cost. If you buy a gift worth $50 for one person, and a gift worth $25 for another, you do not have to buy them two to make up the difference. It is the thought that counts, right?
Give gifts that have no tangible value like coupons for mowing the lawn or for one hour of time together.
Buy your gifts early, before the Christmas shopping season takes hold and prices begin to rise. If you can, shop in July and you can reap the financial benefits of people trying to get rid of merchandise during this slow period of the year. Do not buy things at the last moment, unless it is a clearance sale.
Shop on-line because the amount of merchandise is often higher in terms of quantity, and lower in terms of price.
Bake your gifts. This does not mean sticking that sweater in the oven, but making fudge, cookies or pies for a Christmas present. It may seem like a cheap way to go but people love sweets.
Stop buying wrapping paper every year, and just use decorative Christmas bags you can purchase once and re-use for years on end. If you are really trying to save money, wrap the presents in newspaper.
Other options for saving money during the Christmas season is to let friends and family know you are trying to save money, so they do not expect too much. As well, you could get a part-time job to bring in some extra money, or sell some of your old junk to second hand shops.
Christmas can be a fun time, even on a budget, so don't worry about spending less this year.
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