Holiday Spending Leave You Broke?

Wow, this year I managed to make a lot of my gifts, but still spent quite a bit. Not so much that I would need second or third mortgages (if I owned my home that is) to pay for it all or anything like that.

Unfortunately many people feel obligated to buy gifts for everyone at Christmas time and put themselves in debt with credit cards


I can certainly understand the feeling of needing to give, but that’s not the giving that should be going on during the holidays. I don’t think anyone would ever want us to put ourselves in debt or not pay a home insurance bill or anything just to give them a physical gift that costs a fortune.

I honestly think most would rather receive something personal that comes from your heart and maybe took a bit of time and planning to put together anyway. I know I would.

For those who aren’t the creative type, there are other ways that you can accomplish buying gifts for everyone on your list without putting a strain on or totally depleting your finances. There are special savings accounts at many banks and credit unions, known as Christmas Club Accounts that you can put money into all year long and aren’t allowed access to that money without a penalty until usually October or November, making it perfect for holiday purchases.

You can pretty much have control of how much you want to spend the following year, by figuring out what you can afford to stock away each month. The interest rates vary on these types of accounts, but receiving interest is always better than paying it, especially when the interest rate you have to pay back on secured loans is always higher.

A lot of employers are doing this now too. Employees can have a set amount taken out of each paycheck and set aside in a savings account and then they receive a check usually in the fall for the amount they put in along with a bit of interest.

Anyone ever used one of these Christmas savings accounts? Have any tips to share on how to keep from breaking the bank next Christmas?

The Clock is Ticking, Are You Finished?

Wow, only a week and it will be Christmas Day. Time sure does fly doesn’t it?

With only a few days left, are you done with your Christmas shopping? Are we ever really completely finished? Heehee

There’s always something that I come across the last minute that would be “just perfect”, even if the person it’s for wasn’t on my list to start with or I’ve already bought their gift.

Most of us have at least one person on our list that we have a difficult time finding a gift for. It might be an in-law who already seems to have everything they could possible want, need or use. How about the new neighbor who brought a gift over for your family and now you feel you need to reciprocate with something, but know nothing about them, therefore you have no clue what to give them in return.

If you haven’t finished up, it’s ok, you’re not alone. Many of the mommies over at the forum have let time slip away from them as well. Come on over and join us in our Christmas shopping procrastination! LOL We might be waiting until the last minute, but we’re having fun in the meantime.