Today’s guest post comes from a reader and now contributor Patrica Sanders. Patricia is a financial content writer. She has been praised for her effective financial tips that can be followed easily in her blog, “Your Cardinal Point”. Her passion for helping people who are stuck in financial problems has earned her recognition and honor in the industry. She is also associated with a renowned financial community www.debtconsolidationcare.com. Besides writing, she loves to travel and read various books. – Rob
November is here: Christmas is just around the corner! Like every year, you are super excited to celebrate The Christmas with lights, decorations, traditional customs, gifts, and food. Without an iota of doubt, you have to spend a huge amount in this gala event.
In an effort to make the celebration even bigger, some of you even engage in a spending spree. Careless expenses during this magical time often hurt your finances badly. It is very common that some of you fall into Christmas debt.
However, this year, you can make changes by not falling into Christmas debt. How? By keeping your expenses low instead of putting a luxurious Christmas on your credit card. Because having a debt-free festive season is more joyful than drowning in debt.
Even if you have to strike out a few luxuries for this, you should go for it as you can enjoy the financial stability after the festive season.
Here are 10 Ways You Can Stay Debt Free this Christmas Without Ruining the Fun.
1. Formulate a family budget
Though you need to buy quite a bit of gift during Christmas, make sure you tighten your family budget to lessen the possibility of using credit cards to buy Christmas essentials. Don’t think that you have to make all your family members happy with the expensive gift. Try to stay within your budget and look for some unusual gifts that you can get online by spending less.
2. Consider online shopping
Shopping online helps you avoid the overcrowded streets, save money, and time. You can even bargain for the goods that you buy online during Christmas. Order all your goods in advance so that you can avoid the last-minute delivery charges. Try to check out some reliable websites where they let you compare and contrast the prices of commodities. Watch out for discount vouchers that are usually available during the festive season.
3. Stop using your credit cards randomly
The main thing that you will be required to do to stay away from holiday debt is to avoid whipping credit cards. You should be extra careful during Christmas and restrain the usage of your credit cards. To avoid the shopping temptation, leave your cards at home and go shopping with enough cash. You can at least stop when your money gets exhausted. By doing so, you can avoid credit card debt.
4. Use cash before and during the Christmas time
You should avoid using credit cards as much as possible to avoid Christmas debt. It is rather better to use your cash and stay within your affordability while buying items as per your requirements. Credit cards are mainly for emergency purposes and so it is better to keep the cards for the same.
5. Manage your bills wisely
Don’t forget to make the payments much ahead of time or at the beginning of the month so that you do not face problems later in the month due to the shortage of cash. Also, make sure you pay all the previous or current month’s bills on time to avoid debts just after the Christmas season.
6. Implement creative ideas
Try to be innovative to cut down extra expenses. Make DIY Christmas cards instead of buying them. Do not buy costly decorating papers, use the comic section of newspapers which have colorfully illustrated pictures and save money.
7. Grab the offers
Collect discount coupons to save money on the Christmas goodies, tree, and light. Keep eyes on social media platforms to know about offers and discounts.
8. Organize an outdoor Christmas party
Instead of booking an expensive restaurant, organize an outdoor bonfire party to enjoy Christmas with family and friends. You can also arrange a potluck to save money.
9. Buy gifts well beforehand
For the majority of you, gifting is an essential part of Christmas celebration. It would be better if you do not postpone your purchases of the gifts at the last moment. At the last moment, you may not get the desired gift at the right price that you want to present your near and dear ones.
10. Do not take loans on this occasion
It would be foolish if you take loans to make the Christmas celebration a big affair. You should always keep one thing in mind that love and friendship cannot be purchased with money. And do not feel guilty if you are financially not in a position to present gifts to your kids on the occasion of Christmas. So, you should not take loans for celebration purposes.
Lastly, debt is forbidden; it will take away peace and happiness from your life. Thus, you shouldn’t gather debt throughout the year. During the festive season, you need to be extra watchful to avoid it. But, if you remain careless to your finances, then you can’t enjoy even a debt-free festive season. And when you have no financial peace, no festival can enlighten your life.