A Debt Free Christmas Is A Stress Free Christmas
October 12, 2009 | Posted by Brad Chaffee 
Have you ever had a debt free Christmas? I can honestly say that until 2008, I had always used credit cards or some form of debt to purchase Christmas presents. We so easily accept the punishment that follows racking up major debt all in the name of expressing our love to those important to us. There is another way to love those around you without leading your family to financial ruins.
If you ask the average person they will tell you that buying Christmas on a credit card is a way of life. These same people will also tell you that you have to have a car payment, or that it is not possible to go through life without using credit cards, or as I refer to them as—your plastic companion. There are only two reasons as to why you cannot live without your credit cards. Instant gratification and an unwillingness to save for the things you want.
Have a Debt Free Christmas By Having A Plan
In a little over two months, Christmas will be here so it is imperative that you start planning now. By doing so, you can avoid what I like to call “wallet shock”. This is when you wait until the last minute and all of your Christmas shopping is done in December. This is a recipe for disaster and the reason most people do not finish paying off their Christmas purchases until July of the following year.
I would like to challenge you to try and have a debt free Christmas this year. DO NOT use credit cards or any form of debt to fund Christmas! You will be amazed at how great this will make you feel and there will be little to no chance for experiencing buyers remorse.
This challenge comes with mini-challenges as well. Not being able to whip out your “instant-slave-maker” will mean that you might have to spend less this year. There are many things that you can do to help you along in this process.
- change your “stuffitus” mindset.
- realize that your love for someone is not expressed by a dollar amount.
- divide your Christmas budget by the total number of months left, to figure out how much to save each month. ($300 / 3 = $100 a month)
- find creative ways to make meaningful gifts without breaking the bank.
I love Christmas! It is the time of year when you can celebrate and spend time with family and friends. It is a time where we become less selfish by giving to those around us. Personally, I think Christmas has been hijacked and turned into something it was never intended to be. Retailers have done a good job getting in your head to make you feel like love is expressed by spending irresponsible amounts of money on someone else.
Don’t fall for the bait. Celebrate Christmas on your own terms and stop trying to keep up with everyone else. Everyone else is broke! Develop a realistic plan that will allow you to enjoy Christmas. It doesn’t have to be so stressful. Avoid using the plastic this year and I guarantee you will be happier for doing so.
This post was derived from an original post at Enemy of Debt.
Brad Chaffee is the Enemy of Debt, and a regular contributor here at the Self Reliance Exchange. Brad has also become debt free by paying off $26,076.75 in just 20 months. Learn more about Brad by reading his bio. You may also contact him here.
photo credit
Categories: personal finance | 
Tags: Christmas, debt free, self reliance | 
3 Comments »
We do a debt-free Christmas every year too. In fact, we start saving for Christmas in January! It makes gift-buying so much less stressful.
That’s awesome Kristen! I have to admit that I have not been as prepared as you as far as how early we start, but we do prepare in time so that we don’t have to do all of our shopping in December.
We are going to make it our goal to start saving in January in 2010. Thanks for your comments!
We didn’t prepare for many years, so don’t feel bad! It’s been a couple of years now since we started putting money away each month. It’s only $40/month, but it adds up, and with careful shopping, we can manage to do all of our Christmas buying with that amount of money.
We use an ING account for the Christmas savings, which makes it so easy. I have an automatic deduction scheduled each month, so I don’t even have to remember to transfer the money.