You Don’t Have to Be a Scrooge While Sticking to a Holiday Budget

Woman Happy Christmas Shopping and Lights

And let’s be honest. Why do we spend so much at Christmas? Unfortunately, it’s the social pressure that we feel and that we don’t have any other choice. You end up being a Scrooge if you don’t give during the season of giving. As a result, we become shoppers that fall into the seasonal pressure of spending beyond our means. So is this just the way life has to be year after year? Of course not. Here are three ways we can realistically keep boundaries on spending without feeling guilty this year.

Propose a Financial Limit with Family

If buying presents for everyone in your family are keeping you in a cycle of debt, it’s time to speak up soon. Don’t wait until it’s too late! Turn to whoever is hosting the family party this year and suggest an alternative to the usual giving tradition. Try picking a name out of a hat or doing a White Elephant or Secret Santa where you draw a name and buy a gift for that family member only and usually below a certain agreed-upon amount (i.e $50). One gift and you’re done and everybody gets to open up a present.

Let It Go, and Don’t Feel the Need to Reciprocate

If an acquaintance or co-worker gives you a present and you’re completely caught by surprise, you don’t need to do the same. Say “thank you” instead of replying “Uh, I have your gift at home!” Not! Next thing you know you’re running to the mall and trying to match their gift, only adding to your credit card balance. As a follow-up, write them a thank you note and maybe treat them to a coffee.

Gift to Those Who’ve Made Your Life Better

If you are going to buy gifts this year, be sure to use some of that budget for those who have brought joy to your life and has made your life better this year. People like teachers, babysitters, and soccer coaches. You don’t need to go overboard but do show your appreciation in the form of a thoughtful gift. It could even be homemade!

A Holiday Loan To Take the Pressure Off

Enjoy the holidays and don’t stress yourself out worrying about buying everything for everyone. Creating smart financial boundaries ahead of time will help you to fully enjoy the holidays without the stress and burden of over-spending on things that you truly don’t need. If you do need extra cash, use a holiday loan type personal loan wisely to avoid post-holiday debt regrets. Start by filling out the form to the right!