Best Way to do Christmas shopping without Any debt
With the holiday season knocking right on your door, you should start figuring out how you are going to pay for it. So, do not wait for Christmas, instead heck for the best ways so that you can get your shopping done without getting into any debt so that you do not regret once the holiday ends and you receive your credit card statement. Some of the tips that you can follow are-
Set a budget ahead of holidays
Long before the holiday arrives, you should decide exactly how much money you are willing to spend. The amount you decide should be able to cover all expenses like dinner, decorations, gifts, shopping and so on. Be very careful while figuring out about the different necessary categories. You can also check out your previous year’s budget to figure out how much you will require.
Once you have set your budget you can put your plan into action. Create a list of all of the gift recipients’ names as well as gift ideas. The best way to avoid last minute rush is to start with all your shopping early. If you know exactly how much and what you need to buy, you can plan it ahead. You can also check them out during sale time. If you are looking for gifts for acquaintances and co-workers you can opt for generic gift items. You can start saving in a separate account dedicated for your Christmas expenses.
Shop for the necessary stuff first
You cannot avoid shopping for gifts and food for your Christmas. But there are also several other non-negotiable Christmas-related costs. So, buy them before you spend your money on something else. By doing so, it will be easy for you to cut back on the extras expenses if you need to.
Cash in All Rewards
Do not forget to look across the various online reward accounts and cash them in. You can use the rewards to cash in and pay for your Christmas shopping. Such rewards will help you to stretch your Christmas budget. In addition to such type of accounts, you can also cash in your credit card rewards that you can earned throughout the year.
Do not use your credit card whatsoever
If you are on a limited budget, it can be quite tempting to use your credit card. But using the credit card during Christmas can make the upcoming months financially stressful for you. Therefore, avoid using your credit card completely for any sort of holiday related spending.
Plan for Next Year
Christmas comes every year and at the same time. So, if this year’s Christmas shopping has taken a toll on your financial situation then start planning everything in advance so that you can to enjoy a debt free Christmas from next year. Simply save a small amount out of your paycheck every month into a special account all year round. The earlier you start with your planning, the easier it will be for you to enjoy Christmas without any debt.
Make a Little Extra Money Around the Holidays
If you have limited earning which makes it difficult for you to enjoy the holiday every year, you can consider other ways to make extra money. You can start with selling all the non-essential or unused items lying around the house or things that you do not use any longer. You can either sell them online or organize a gradate sale. You can also consider working overtime or getting a second job and use that extra income towards your Christmas shopping. Having extra cash for the holiday will definitely help you to stay out of debts.