Don't Go In Debt For Christmas

An ounce of wisdom:  Don't go in debt for Christmas with overspending and swiping plastic. Stay in control of your finances by only spending money that is yours.


Thinking about it ahead of time and having a plan will prevent impulse purchases at the store that you can't afford. Studies have shown that people spend more money when they use a credit card to pay for things. Not only do they spend more upfront, but they pay even more money in interest come the New Year.

Here's some tips that can help you and your family this year:

1.  Whatever you do, DO NOT go further into debt just to keep up with a status quo this Christmas.

• Shop mindfully.
• Live within your means.
• Say no with grace. 
• You'll still have a wonderful Christmas and it will be just as memorable for the entire family.

2. Consider how much to spend on gifts.

• Spend only what your budget will allow without going into debt.
• You can do it!!!!  It's not easy...but it can be done!
• Society will tell you that going into debt is the norm...DON'T LISTEN to them...because going into debt doesn't have to be the norm!
• With the budget set, follow these steps:
• Create a gift list and assign each person a spending amount.
• In the next column write down an idea for a cool gift.
• Finally, withdraw cash from the bank and go shopping.  This guarantees you won't spend more money than you have.
• Leave your credit and debit cards at home.   

3. Determine who you're going to spend money on.

• Again, figure out how much money you have to spend without going into debt.
• Ask yourself, "How much do I want to spend on family that I rarely see?"
• You're not a bad person for not spending money on them.

4. Look for ways to cut down on expensive gift giving with extended family members.

• Tell your family that you're watching your spending this Christmas.
• Either skip gift giving this year or lower your spending level.
• You may want to also consider:
• Giving the gift of experience.  For example, is there something you can do together as a family instead of exchanging material gifts?
• Suggest a homemade gift exchange.  (Bake cookies, knit something)
• Recycle/reuse - try a white elephant gift exchange.  (You'll laugh a lot)
• Ask them to donate the money that they would have spent on a gift for you to your favorite charity.
• Ask them to use the money to fund a future visit.  Time with family is valuable and possibly the best gift.

God's desire for you is to be blessed and prosperous. 

Let me encourage you today to live within your means and resist the temptation of spending money you don't actually have.  You'll be amazed at the joy and peace you'll have knowing that you have preserved your families posterity.

Proverbs 21:5  The Plans of the diligent lead surely to advantage.
1 Timothy 6:8 If we have food and covering, with these we shall be content.
Proverbs 13:22 A good man leaves an inheritance to his children's children.
Proverbs 21:20 The wise man saves for the future, but the foolish man spends whatever he gets.