Ever noticed how every year we start pulling out the plastic after asking family members what they want for Christmas. The end result – new debt on top what you already have. It is a vicious cycle, but we want to please everyone in our lives.
Well I am an avid fan and watcher of the videos by Rachel Cruze, and just shared one on Christmas Budgets on my personal financing facebook coaching page. On her video you will find a link to “Your Christmas Budget”. I have printed this out and included it in the December section of my 2019 budget book.
We need to start getting away from the notion we must give to EVERYONE in the family and circle of friends. Unless you hit megabucks, you will only find yourself deep in debt, stressed and miserable. I have decided this is the last year I will hit the credit cards for Christmas. However, to achieve this with me, we must start now in December so by next December we have the funds in time for Christmas.
Now being retired, my fixed monthly income pays the current bills and at least the minimums on my credit that is in the debt snowball. However, I still have a parttime job waitressing, so each week I will take $25 from my tips and open a separate savings earmarked as next year’s Christmas Fund. By nextThanksgiving the account should hold close to $1200.00, which is the amount I have set for next years Christmas budget.
Using Rachel’s Christmas budget sheet, I have listed my two sisters, our pets, a couple grabs and an other category. Instead of giving to everyone, which is unfair and impossible, I am going to host an after holidays family and friends night in January. This will be a time to get together when we are less stressed with the holiday plans and so we can relax and enjoy our friends one-on-one for a nice meal, socializing and perhaps a yankee swap.
So, to my family and friends seeing this – plan on joining me after Christmas in January and let’s catch up – cant think of a better present for the masses. For those following this post, lets hear your thoughts on this idea for releiving holiday stress and using a Christmas budget approach.