Like everything else, the upcoming Christmas holidays will also be celebrated in a different way due to the Corona pandemic. Most of us are almost fatigued after a long 9 months of social distancing and lockdown norms, and the upcoming holidays are the ideal time to relax and forget about the horrible last 9 months.
But the economic condition of the US and the rest of the world is not in good shape. With millions of job losses, the Christmas holidays and celebrations will not be as enthusiastic as in the past years. But what should I do? If you don’t celebrate Christmas cheerfully, the chances are you may be more depressed than now.
So, the best way is for you to celebrate the Christmas holidays by being cautious about your health and your pocket. Take a look at the ways you can enjoy a merrier Christmas, even if you are going through a salary cut or have a debt burden on your shoulder. The best way for you will be to try to keep the Christmas celebration a small and personal affair this year.
Take a look at the 5 points on how you can celebrate Christmas in a personal way.
1. You can keep this year’s Christmas celebration a purely family affair
In 2020, if you can keep the Christmas celebration a purely family affair; it can be good for both you and your family’s health as well as you can save some money. Even if your family is unhappy with your home-Christmas celebration and complain against it, you should remain firm in your decision. Explain why you’re doing so.
This year when the job loss rate is so high, hour cut and salary cut has turned into a normal affair, people are expecting for the second stimulus check; keeping Christmas a purely family affair won’t be a bad decision taken by you.
2. Keep control of Christmas gift sending custom
It is a tradition that we have followed for years. On the occasion of Christmas, it is a custom that we send gifts and receive gifts from our relatives. But this year, you can save your hard-earned money if you break the custom of sending-receiving gifts. You know it, all your relatives know it, the entire country knows it; nobody’s financial condition is stable this year.
So, only for this year, you may break the custom of not sending gifts to your relatives and forbid them as well to send you any gift. By breaking the custom this year, you can save yourself from indulging in unnecessary spending.
3. Try to celebrate a virtual Christmas this year
Usually, the Christmas season means partying with friends, going to your relatives’ houses, going for a beach vacation, and so on. But this year, neither the outside environment is safe nor the financial condition of everyone is good So, better for you will be to convince yourself and your family members to celebrate a virtual Christmas this year. Unnecessary celebration and overspending may bring an extra debt burden on your shoulder.
4. You can go for homemade gifts this year
This year, everyone aims to celebrate Christmas without overspending, and not getting entangled in the unnecessary debt burden. So, you can go for homemade gifts to celebrate Christmas. Are you thinking homemade gifts are a time-consuming affair? It is not always like that. If you brainstorm some good ideas, homemade gifts can be a way to make your friends and family happy and give them a surprise.
The handmade gifts bear a personal touch and can prove to be a pocket-friendly affair this year. So, better than going shopping, and instead of using the online mode, you can present your loved ones homemade gifts. You can present your parents, wife, children, close friends, relatives a homemade jar of pickles, easy-to-make cakes, chocolates, and biscuits as a gift for Christmas.
Handmade Christmas cards can be another great Christmas gift idea. So, instead of shopping in big stores, you can search the internet regarding how to make homemade gifts. By opting for this, you can save some money for sure.
5. You can try to maximize your savings by using different ways
Usually, at Christmas time, all the sellers try to earn maximum profit by doubling the product price. The best option for you will be to check the price of the products before buying them. You can use different shopping apps that will provide you with better ideas from where you can buy products at a cheaper price. Your credit card can also be helpful in your goal of saving money during the Christmas season.
For example, a particular store or online website may offer cashback and rewards for a particular credit card. So, instead of using any other credit card, use only the particular credit card that has exclusive offers from that particular store. So, by applying this technique and using specific credit cards, you can earn reward points and cashback from the store.
However, don’t be tempted to use your credit card more just because you are getting the offer of cashback and reward points. The best strategy is to use credit cards for a limited portion of purchases and for the rest of the purchases, you can choose the cash payment option. Thus you can save yourself from unnecessary debts due to your over-usage of credit cards.
These particular 5 ideas can help you to save yourself from overspending during the Christmas holidays. Now one important point to discuss is what should you do if you are unknowingly falling into a debt trap or you are already in debt and you want to celebrate a merrier Christmas?
Read the article furthermore to quench all your curiosities regarding how to tackle the debt during the Christmas holidays. You can choose the credit card debt consolidation option to repay your high-interest rate credit card debts.
Take a look at the 2 credit card debt consolidation options that may suit you.
1. You can use the Balance Transfer Card
What if you have already made a good amount of shopping by using your credit card? What if you are guessing that despite your best efforts, ultimately you will end up with a good amount of credit card bill? You can use a balance transfer card to avoid this situation.
It usually comes with an attractive introductory period offer of 6 to 18 months where you can pay off the due credit card balance with a 0% or very low-interest rate. So, you can save a good amount on the interest rate.
2. You can opt for the debt management plan
If you are already facing the twin problem of a huge credit card outstanding balance and a lower credit score, then you can consult an expert to help you understand the debt management plan. With a debt management plan, your multiple debt payments can be merged into a single monthly payment and your interest rate will be slashed for sure. You can choose the debt management plan and all your tension will be over.
So, if you are already going through a debt-burden phase or if you have already guessed that after Christmas there may be a huge debt burden, then the best option is to consult a debt consolidation firm beforehand.
For some people, the Christmas celebration means doing something extravagant. But you cannot expect the world to run in the same way every year. Even your expensive gifts may not console your close friends, relatives, and family members; the situation is so bad this year. So, the better choice for you will be to check yourself, do not plunge into unnecessary spending, and most important of all is to avoid unnecessary debts.