Living a debt-free lifestyle applies to all aspects of life, even how we navigate buying presents for Christmas. Planning and budgeting for Christmas can be difficult for a small family, add in a few more kiddos (or a bunch more) and it can become a down right, mighty hard challenge! We are currently a modest, one-income family, and making every dollar stretch is key for our survival, especially at Christmastime.
I love giving gifts and seeing the smiles on my children's faces as well as other family and friends faces when they open them. To help make sure we have the gifts to give and the ability to purchase them within our financial means, I have created a sort of guideline to help keep me on track. I realize Christmas is just a few short weeks away, but maybe some of these tips will help you in your Christmas gift giving process this year.
For me, planning a debt-free Christmas begins the day after Christmas and continues throughout the entire year. We all know Christmas is coming at the end of every year, no sense in denying it, use that knowledge to your advantage, and plan accordingly. If you really want to give your family a special Christmas including those treasured gifts without going into debt you must alter your way of thinking. I have found that perspective is often the key to saving money and living debt free. The following five secrets have kept our LARGE family out of debt during the Christmas gift-giving season for many years now.
5 Secrets For A Debt Free Christmas
- Implement a 3 gift limit for those in your immediate family, and 1 gift for extended family and friends. Less is more. Christmas really isn't about material items anyways; but the gift of Jesus, family, and friends. Creating a gift guide including how many gifts you are purchasing for each person will help to minimize spending and keep Christmas centered around what matters most.
- Keep a running list of who you're shopping for and what you've bought/made throughout the year.
- Think outside the box for gift giving. Make homemade gifts such as sewn items, baked goods, soaps, candles, woodcrafts, etc. Pinterest is a great resource as is Google if you're looking for homemade gift giving ideas.
- Diligently shop clearance sales, consignments, and thrift stores. Purchasing gifts throughout the year is much easier for staying on budget than all at once, at the end of the year. I especially love after holiday sales. Many items sold after the holidays are neutral and can easily be given as gifts for Christmas. I especially like to shop after Christmas, Valentines Day, Easter, and Halloween for stocking stuffers.
- Make a point to put back a set amount of money each month for those last-minute gifts that can't be purchased in advance. I always create a Black Friday and Cyber Monday savings plan, because much of those deals are simply worth saving for! My personal goal is to save $60 a month for Christmas spending that I can't get accomplished throughout the year.
Christmas is such a wonderful time of the year. Adding the stress of debt doesn't have to be part of your family holiday traditions. By creating a gift-giving plan early in the year AND sticking to the plan, you will have a greater opportunity to simply focus on enjoying loved ones and making treasured memories during the Christmas season. Giving gifts doesn't have to be a burden to your budget, especially when you implement the above FIVE Secrets For A Debt Free Christmas.
With Love & Hope,
Jennifer
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