Avoid Going Into Major Debt Christmas Shopping

This article is from our print magazine issued October 1st 2022. To order a copy of the magazine please do so here.

Many people love Christmas. They love the spirit of Christmas, gifts, family time, the weather and so much more. One thing people love to do at Christmas is shop. They love finding things their loved ones will enjoy. The problem is many people shop more than they need to at Christmas and rack up major debt that can last longer than the entire next year. Putting themselves into a situation they could’ve avoided. Avoid going into major debt Christmas shopping this year.

One way to avoid going into major debt Christmas shopping is to ask people what they actually want. Don’t buy 10 gifts just to have gifts under the tree. Most of the time people regift those items they didn’t want.

Another way to avoid going into major debt Christmas shopping is to find deals on items your loved ones want. During Thanksgiving they have so many sales, you can find many things discounted.

When you think outside the box on shopping for Christmas, you can always start early. Some people start as early as June shopping for Christmas presents. I know that sounds crazy, but if you budget money in your check to buy things early you don’t have to sell out large amounts of cash near the end of the year for gifts. If someone tells you they want a bike and you find one on sale why not get it in June.

Limit yourself on how many people you buy for. It is hard to do this, but when you have a lot of family, friends, and co-workers it can be hard to buy everyone something. Especially, when your job has a gift exchange or Christmas party with gifts. Decide who will be on your Christmas list and let all others know you will not be purchasing gifts. That way you don’t feel bad if someone gets you something and you didn’t get them anything.

Use one credit card for Christmas shopping. Some people max out many of their credit cards. I would say use one card, hopefully one with points, and buy all your Christmas gifts with it. If you have a really high limit give yourself a budget. If you don’t use credit cards, give yourself a cash budget and stick with it. If you decide you are only spending $2,000 on Christmas gifts you can then budget how you shop for people.

Lastly, eliminate stocking stuffers that are expensive. Get small things that people will need like toothpaste, deodorant, socks, and things of that nature. That way they are getting things they need and you aren’t wasting your money on small items they will throw away or recycle.

Christmas is a fun and celebrated time of year. Make it fun, family-oriented and avoid going into major debt Christmas shopping. Do things that have meaning like baking Christmas cookies together, watching holiday movies and more. Don’t stress yourself out about buying someone an expensive gift. Do what you can when you can and remember it is about being together. Grow, live, and change the world. Keep growing and inspiring.