How To Stay Out of Debt This Christmas

As we all know, Christmas is coming! As much as I love Christmas, it can be an expensive time of year so it’s important to take your time and plan your spending to make sure you stay out of debt. Here are some of my tips for saving money and how to stay out of debt this Christmas.

Make Your Own Presents

Want to save money on your presents this year? Make them yourself! My sisters and I are fans of the homemade gift; it’s cost-effective, personal and fun to make your own and there are plenty of ideas out there, even for beginners. You can search Pinterest for DIY craft ideas if you’re not sure where to start, and there are many books available with step-by-step guides. Some popular homemade Christmas gifts are jams and chutneys, hampers, jewellery, candles and bath products. Include a personalised note and you’ll be wondering why you ever spent money on presents in the first place.

Search The Sales

Say your friend or relative has asked for a set of baking scales for Christmas. You want to get the best, right? The brand new, full price set of scales is the only option, surely? No! Search the sales, search online discount shops like Ebay, Gumtree and Amazon and shop around. Black Friday can be a great way to save money on Christmas presents if you already know what you’re looking for.

Make Some Extra Money For Christmas

There are plenty of ways to raise some extra cash to put away for Christmas. Some ideas are:

  • Babysitting
  • Selling your stuff online or on Depop
  • Freelancing
  • Sell your crafts on Etsy
  • Work part-time in retail or a bar – they always need more staff in the run-up to Christmas!

Agree On A Budget

As we are unfortunately not yet millionaires, my husband and I agree on a present budget every year at Christmas. This means we control our spending, and there’s no worry about not spending enough or how much the other has spent. I also tend to decide on a figure for the rest of my family; you don’t have to spend a fortune to find lovely presents. Plus, a lot of my family lives far apart and we spend a lot on travel over the Christmas period and personally I would much rather spend time with my family than receive an expensive gift.

Don’t Use Your Credit Card!

The easiest and most effective way to avoid getting into debt over Christmas is by not using your credit card. If you can’t afford the present, then don’t buy it! There are so many ways to cut down the costs of Christmas that you can avoid using credit cards and avoid debt.

If you are struggling with debt, there is help out there: find out more.

*This is a collaborative post but all thoughts my own*