Sunday, 22 December 2013

Spending a frugal Christmas in 2013 to lead a life without debt in 2014

Posted at  08:43  |  in  Frugal

Every year, there are hundreds of families that make a conscious effort of ‘decommercializing’ their Christmas celebrations in order to save their hard-earned dollars avoid being indebted to multiple creditors. Christmas is celebrated due to the occasion of the birth of Jesus Christ but nowadays due to the materialistic nature of people, they can’t think of spending Christmas without exchanging gifts. In an effort to get gifts for everyone in their list, they end up splurging on credit and accruing debt that they often fail to pay off till the next Christmas. Such people desperately look for advice on spending a frugal Christmas and some personal finance tips following which they could save their pennies. You may check out the below mentioned points if you’re eager to spend a frugal Christmas this 2013.

1. Focus on Jesus Christ instead of Santa: It is pretty natural in the present economic condition that the consumers will look forward to buying gifts and exchanging them among the near and dear ones. But this year, try something different and get back to the main focus of Christmas, Jesus Christ. He is the shining star due to which people celebrate Christmas and you may try to make him the central focus of your family and all your Christmas celebrations. Forget about Santa and concentrate on Christ.

2. Opt for DIY Christmas gifts: If you didn’t like the first idea of shunning the entire practice of gifting your friends and family, you can then opt for some DIY Christmas gift ideas. There are different thrifty and smart ideas for making homemade Christmas gifts and giving people handmade gifts also adds a personal touch to the celebration. Sharpen your creativity and create something that will touch the hearts of the people around you.

3. Shop in generic stores: Are you planning for a turkey dinner this Christmas? If answered yes, instead of visiting the branded stores, you can opt for the generic items as there you can save money. During Christmas, no one wants to settle for anything but the best but when you’re in a tight budget; you can certainly compromise on the brands and get good quality things from a generic store. You can also leverage the coupons and use them at the right time to get discounts.

4. Shop within your means and with cash: You should also ensure shopping within your means so that you don’t buy anything extra that you can’t afford with cash. Let go of the habit of taking resort to credit when you can’t afford something with cash. Take your list with you and don’t buy anything that is not mentioned in the list. The more you use your credit cards, the more you will drown in debt. Use cash and lock your plastics at home.

Therefore, when your goal for Christmas, is to lead a frugal one, you may follow the above mentioned financial tips. Get help of a professional financial advisor who can advise you on how you should tackle your finances and yet spend a merry Christmas.

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Jimmy Simond is founder of wallstreetsfinancenews.com he share his immense knowledge of finance in this blog. You can follow him on Google+.

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