Ho Ho Hold Holiday Debt

by Shaunna Privratsky

Every year, we vow to stick to a holiday budget. And every year, we blow it like Santa after a thirty-six hour no-cookie diet. We dread the holiday bills, the overdraft fees and the last minute trips to the Mall that empty our wallets and rack up the credit card charges.

Take charge of your holiday budgeting! By planning ahead, you can celebrate the season in style without ending up in debt. Here are ways to curb spending and stay on track.

The first step is to plan your budget. Make sure you include all those little extras like decorations, extra postage, the kids' holiday outfits, family photos and entertaining costs.
Now list all the people you want to buy presents for. Jot down any ideas you may have.
Shop early for the best selection. Tackle the out of town list first, so that you can ship presents early. The earlier you send, the cheaper the rates.

Shop like Scrooge. Have a plan before you step foot in a store. Call around for the best deal on popular items or must-have electronics. Often, a phone call can save you money and wasted time.
Combine and conquer. If you and your brother never know what to get Mom and Dad, pool your resources and get them one nice item together.
The hat trick. Large families have practiced this for years, but it is still a great idea. Draw names, so each person is only in charge of one present.
You may want to set a monetary limit to keep things fair and equal, especially with younger children.
Speaking of kids, have them each list one to three items they desire. A good rule to follow is: one gift they really need, one gift they really want and one educational gift like computer games or books. With all the other presents from friends and family members, they won't be deprived.
Okay, let's say your budget is getting pretty thin. It is better to withdraw money from savings, that earns about 3% - 4%, rather than putting it on an 18% to 29% credit card, unless you know you can pay the bill in full in January.
Avoid debt altogether by shopping all through the year. Keep your eyes open at garage sales, thrift stores, or clearance racks for those one-of-a-kind gifts that would be perfect for someone on your list. When December rolls around, you will only have to wrap and send your frugal find.
Give the gift of time. It doesn't cost a cent to make up coupons for things like a backrub at the end of a stressful day, an offer to pick up the dry cleaning, a special movie night, a dinner out or other treats for friends and loved ones. You could even make a coupon book, one for each month.
Shop the after-Christmas sales. The stores are anxious to sell and will discount decorations, wrap, gifts, toys, trees and other holiday items at huge savings. You can stock up on dishes, napkins, food items and even clothing at up to 90% discounts. You can often find gifts for other holidays as well, like birthdays, Mother's Day, and even Valentine's Day.

This year, you can look forward to the holidays. By sticking to your plan, you will cherish the special moments instead of worrying over bills and escalating interest rates. You can look ahead to 2009 with joy when you ho ho hold holiday debt.

Shaunna Privratsky is a fulltime author with over 500 published articles. In between finding a new house, caring for her disabled husband and getting her two teens ready for school, Shaunna writes about saving money at The Discount Diva http://shaunna67.tripod.com/id21.html Check out her ebooks and free newsletters today.

Take the Next Step:

Take charge of your holiday budgeting! By planning ahead, you can celebrate the season in style without ending up in debt. Try one or more of these ideas to curb spending and stay on track.
Having a large family Christmas gathering this year? Visit here to get some great ideas that are fun and will help to keep your Christmas budget on track.
Share your thoughts about this article with the editor: Click Here

Discuss a "Debt Freeze" with other Dollar Stretchers in The Dollar Stretcher Community

Do you need more information on this topic? Click here to ask a Dollar Stretcher Stretchpert!

Do you have a time or money saving idea that wasn't included in this article? Please send it to tips@stretcher.com. We get the best ideas from our readers!

If you liked this article, sign up for our free eNewsletter Surviving Tough Times. Just enter your email address in the box below and click Subscribe.

Follow The Dollar Stretcher on Twitter.

Contact the Dollar Stretcher at:
Dollar Stretcher
PO Box 14160
Bradenton FL 34280
Voice 941-761-7805
Fax 941-761-8301