It’s hard to believe Christmas is only a few months away here in South Carolina, especially since up until this morning, the summer heat has extended into fall. It’s so unbearably hot here in Columbia SC, our AC has been running non-stop and one day our AC couldn’t keep up with the hot temps. Nevertheless, Christmas is around the corner, and if you haven’t yet, it’s time to prepare!
So confession, every Christmas we use to swear by the credit card. We would see all of these amazing toys and such for our kids and each other, and instead of making a plan for our money back then, we would spend like crazy and think about the consequences later. Sorry mom and dad. We love you, but we made some crazy mistakes back then. Then we took Dave Ramsey’s Financial Peace University (FPU), and it really taught us so much about money and telling it where to go. It took us at least three times of taking FPU to really apply the principles, but once we did, we really were able to budget, pay off debt, and learn to save. After failing to plan and going into debt every Christmas, we may have learned our lesson, so here are our 10 Money Tips to Get You Through The Holiday Season Debt Free:
1. Budget, budget, budget: It is so freeing to know that we are changing our children’s legacy by telling our money where to go each month! We are not perfect, but I budget our expenses every single month. I personally am a pen to paper gal, but I also use numbers program to input all my budget categories! I also love The Budget Mom on Instagram and You Tube! Her videos and tutorials are lifechanging. I now use her budget by paycheck system instead of creating a monthly budget. It has transformed our finances! Need some budgeting worksheets? Click here! These are the 5 budgeting pages I use every single month (in addition to my online tracking system)!
2. Start now! If you haven’t started budgeting or saving for Christmas, start now! Think about the amount you want to spend, and add up the number of paychecks you have now until Christmas. Divide the number of paychecks into the total amount you want to spend. For example, if I want to save $500 for Christmas, and we have 2 paychecks each month until Christmas. I will save 83.33 dollars per paycheck. That is 6 divided into $500.
3. Get a side hustle. Admittedly, I love a good side hustle. I’ve been a stay at home mom for 12 years, and I’ve had a side hustle almost as long. I personal trained. I worked part time at our local church. I launched my own scarf and clothing line. You name it, I’ve probably tried it. You can join a Multi-level Marketing Company or you can use your gifts to make extra money. Get creative. If you like painting, start selling your work. If you love kids, start babysitting or work at a church or nursery. If you love sewing, sew some things and post it on Facebook. YOU CAN DO IT! Use your gifts to start saving and paying for all of the extra expenses around the holidays
4. Sell, sell, sell. Now don’t go selling your kidney or anything, but take those items you haven’t used or worn in years, and take it to the consignment store. Or sell it on Ebay or Facebook market. I have made so much money consigning unused items!
5. Just SAY NO! I’m all about parties, but 5 parties in one week is just too much. Not only does it break the bank, it breaks your energy too! So say no sometimes. Trust me, sometimes it’s good to stay home. So JUST SAY NO!
6. Use cash! Studies show that by using cash you spend significantly less than normal! So each paycheck, go ahead and take out your cash for that week or two weeks(i.e gas, food, entertainment).
7. Spending FREEZE: Go on a spending freeze for a month or at least a few weeks. I’ve done this quite a few times, and it has been absolutely life changing. You only buy absolute necessities. No eating out. No frivolous Target runs. You buy only necessities. So food, gas,
8. Do a holiday gift exchange: Instead of buying all of your relatives gifts this Christmas, do a holiday gift exchange, so each person is buying for one person and not 5 or 10! I come from a very large family, so buying for 10 people or more can get very expensive. A holiday gift exchange is the perfect solution.
9. Reduce your grocery bill and/or reduce eating out now! OMG, I did not realize how much I spent on food until I started tracking it! Over one 9 day stretch we spent over 700 on eating out! That’s more than our grocery bill for a month! Insane! Absolutely insane! After that, I committed to not only eating at home more, but also I committed to reducing our grocery bill by foraging through our cabinets and pantry and freezer, finding what we have, and buying only the staples. So now, I shop sales, what’s in season fruit and vegetable wise, and I shop less. Keep track of your spending, shop when you’re full, and find deals!
10. Make memories instead of buying things! Instead of buying toys that kids don’t need, buy a membership to the zoo or museum. Or book a hotel or weekend getaway in lieu of tons of presents and gifts. Or go hiking! Go look at lights! Go volunteer at the soup kitchen! Instead of spending tons of money, do things with family and friends that you will remember forever! There are tons of ways to have a good time without spending money this holiday season! You can do it! I believe in you! Who am I fooling? I believe in me too, friend! :)
Christmas does not have to be a time of stress, worry and debt! You can plan, save, and prepare for a wonderful holiday season with family and friends without going into debt! You can be all that God created in your finances, and it starts today friends! Let’s go out and be all that God created TODAY!
Until next time,
Love Shelly
Need debt paying tips!? Watch this Video of how I paid off 8 credit cards! CLICK HERE