If you need to get out of the Christmas debt trap, treat your debts like the budget Christmas cake no one wants. Be mindful of your spending habits and isolate them from other bills in your house so that when the need comes to buy, you ignore them.
Give away a present a week before Christmas
To be perfectly frank, the easiest way to stay out of Christmas debt is to mimic the many who began this year’s festive shopping tradition giving away a Christmas present every other week. At the risk of labouring the point, the most fool-proof method of surviving Christmas shopping debt is to imitate the people who first started it all – giving away presents on Christmas morning. Here are some tips to help you get out of the financial doldrums.
You’ll be surprised to find that Christmas is actually one of the easiest months to accumulate debt. You can easily rack up debt from impulse buys with a quick glance at the shops, and then make the purchase when you’re not in a rush. If this doesn’t work, start by choosing a large present and then dividing it up between family members one at a time.
Try and avoid shopping online during the months leading up to Christmas. Online stores have become a major cause for Christmas debt problems over recent years, and many customers find themselves left with a huge bill after the festive rush. Instead, visit your local Christmas shop online instead.
If your family has ever bought presents together, you’ll know how easy it is to fall into the Christmas debt trap
You know what I mean. Spend the day shopping, then return home and do the same thing at night. The problem is that if you’re running on empty, it’s tempting to leave your purchases at home because you know you can just return them once the stress starts to fade.
Instead, take time away from the house and browse the Internet for good deals on Christmas presents. You can also get deals on second-hand goods if you shop around for the best bargains. You’ll be surprised to see how easy it is to save money by avoiding impulse shopping. Avoid going to the shops with a full wallet. Instead, stick to the main thoroughfares and check out sales.
If you’re unsure about whether or not you can handle Christmas shopping, you could try going on a holiday with friends and family. This could help you stay focus on your Christmas shopping and get yourself into a more relaxed state of mind.
Remember, the best method of managing Christmas debt is to take control of your spending habits now
This means tackling all of your debt as soon as you can, as soon as Christmas arrives. After all, that’s the time when you get stressed and start spending money without thinking.
If you think you might be tempted to return to the stores at Christmas time, think about whether you should actually return anything. The last thing you want is to end up buying items that are either too small or simply aren’t what you thought they would be.
It’s also worth thinking about whether or not you should use credit cards for Christmas shopping. Although you’ll be tempted to buy more than you actually need, remember that you’re trying to get rid of Christmas debt as quickly as possible, so don’t spend more than you really need.
As Christmas time draws nearer, look into making sensible shopping a priority. By prioritising certain items on your shopping list, you’ll be able to choose to buy fewer items, and hopefully, get your holiday shopping under control as well.
So next year, don’t spend more money than you need. Try and pay off your Christmas debt before the chaos begins.
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