Enjoy Debt-Free Holidays

The holidays represent consumerism at its best. We are a nation of spenders and there is nothing that quite gets us spending like the Christmas season. But how much fun is it come January when the gifts are barely in use and all you have to show for it is a pile of bills? Not much, I imagine. This year make a pledge to survive the holidays debt-free. How, you ask? Here are some simple tips to aid your pockets in not feeling so empty this year.

Set a budget. If everyone agrees on a gift giving budget, the holidays will be less financially draining. Pick an amount (remembering to be fair especially if children are involved) and stick to it. If you are exchanging gifts with family members or a group of friends, don't be afraid to bring up a dollar amount that you feel is fair. Not only does this help you stay within your budget, it also avoids hard feelings if there are one or two big spenders in the group and the rest are frugal fellows.

Draw names. This is an especially useful tactic for larger groups or families. Each person draws a name and then is responsible for buying a gift only for one person. The bigger a family or group gets, the more important it is to contain the number for whom you feel obligated to purchase a gift. Capping the dollar amount is also a good idea in this situation. Spending around $20 is a good rule of thumb.

Buy only for the children. It does get tiresome, as families grow, to try and remember everyone on the list. Agreeing to purchase gifts only for the children is sure to control your costs. Don't the children really enjoy it more, anyway? It is nice, as an adult, to be remembered during the holidays but, in my experience, it really is for the children.