| Christmas is coming. Seven months to go! | | | | month is a reasonable amount that you feel good |
| Last Christmas I was amazed at the number of | | | | about. If yes, then your Christmas budget would be |
| people who do not have a debt-free Christmas. I am | | | | $500. If, however, you cannot scrape together $70, |
| a big proponent of thinking and planning ahead. | | | | your total will need to decrease. If you have more |
| 2008 was a stunning reminder of the Biblical truth | | | | you can and want to save then by all means save. |
| that the borrower is slave to the lender (Prov. 22:7). | | | | 5. Allocate a budgeted amount to individuals. Take a |
| There is no better time to decide that 2009 is going | | | | piece of paper or spreadsheet and write the names |
| to be a debt-free all cash Christmas. | | | | of people you might want to get gifts for. Prioritize |
| How can you have a 2009 debt-free all cash | | | | the list with those you most want to buy for at the |
| Christmas? | | | | top. Put a budgeted number beside each individual. |
| | | | Just be sure your total equals your budgeted total. If |
| 1. Evaluate your motives and beliefs about Christmas. | | | | you are having trouble making the items match then |
| If you habitually overspend during the Christmas | | | | (a) recheck your motives (2) consider #8 on this list. |
| holidays I suspect there is a reason. Sometimes we | | | | 6. Create a Savings Plan. Now that you have decided |
| give gifts beyond our means to give a certain | | | | to save $70 per month you should get an envelope |
| impression of our financial status. Sometimes we give | | | | and write Christmas Money on it. At the start of |
| extravagant gifts because we fear rejection. | | | | every month put your $70 into that envelope. |
| Sometimes we give expensive gifts because we are | | | | Alternatively, if you aren't comfortable keeping cash |
| a giver at heart and giving is our love language. Once | | | | at your house or your total will be quite large you |
| you have your motives in check you can move along. | | | | can just set up an extra account at your local bank |
| 2. Have an open and honest family (extended also) | | | | and have them automatically transfer your $70 per |
| discussion. Many families speak about their | | | | month into a separate account. |
| dysfunction when it comes to talking about money. | | | | 7. Create a Spending Plan. Your spending plan will |
| However, it can be an extremely healthy process | | | | depend on your savings plan. If you are saving cash |
| getting an idea of who people are buying for and | | | | then every time you get a Christmas gift you would |
| approximately how much they are spending. This | | | | use cash only from your Christmas envelope. If you |
| would alleviate all the awkwardness when Uncle Joe | | | | are using the bank account, use a debit card for your |
| gets Aunt Sally a pen and Aunt Sally gets Joe and all | | | | Christmas account or get the cash any time you |
| expenses paid vacation to Jamaica. | | | | shop for presents. After you make a purchase, take |
| 3. Don't feel embarrassed about suggesting changes. | | | | the budgeted amount for individuals and subtract |
| If your family giving practices are over the top or if | | | | what you spent. If you overspent, take something |
| your family is growing with babies and spouses, | | | | back or decide to spend less on someone else on |
| suggest an alternative. Perhaps you could try drawing | | | | your list. |
| names this year. If someone is disappointed because | | | | 8. Be Creative. A crazy sickness in our culture is the |
| you can't afford to give them more, that is their | | | | belief that it requires money to give a gift or to |
| issue, not yours. | | | | express how important some is. Use alternative gift |
| 4. Decide on a budget. Once you have had an open | | | | giving to bring down your budget. Bake cookies, |
| and frank family discussion you are now at the point | | | | write coupons for your services, make something, or |
| where you can set a budget. Here is how I would | | | | even check out second-hand stores. Is a debt-free all |
| set the budget. Take a guess at what you spent for | | | | cash Christmas feasible? It sure is. If you start |
| Christmas last year (let's assume that is $500). Now | | | | planning today you have a much greater possibility |
| take that number and divide it by seven (number of | | | | for success than if you wait till December to start |
| months till Christmas). That would be about $70 per | | | | thinking about a Christmas budget. |
| month you would need to save. Decide if $70 a | | | | |