Don’t let Christmas 2013 mow down your courage to save money

It’s that time for the year again when everyone is getting ready to celebrate Christmas and spread love and warmth among themselves. But is it possible to spend a fruitful Christmas on a tight budget? Are you someone who has to think twice before buying everything on which you set your eyes upon? Well, with the present economic turmoil and the soaring household credit card debt, almost all of us have to rein in our finances even when it comes to spending for Christmas and New Year. We all love to gift our friends and family members but when our finances are in a tight situation, we all require making restrained financial decisions. But saving money on Christmas doesn’t mean depriving yourself of all the fun. Read on to educate yourself on the different personal finance tips that you should follow this Christmas in order to save your dollars.

1. Don’t forget that you’re not Santa Claus: There are many people who think they are Santa Claus and they’re the ones who end up spending an overwhelming amount for Christmas. Get back to reality and come to terms with the fact that you’re not Saint Nick with a legion of elves that are waiting to make your dreams come true. Spend within your means so that you don’t have a trail of debt that you have to repay throughout 2014.

2. De-clutter your home and make money: Your family members and friends must have filled up your life with presents during Christmas. This is the time to take stock and decide what to get rid of initially. Before you pack up everything and take them to the charity shop, you should consider selling some of them in order to make money this Christmas. EBay is one of the biggest marketplaces for clothes, toys and all kinds of goods. You can also try to sell them off in EBay and earn some dollars and use them while buying gifts.

3. Curtail the gift list: You must have made a huge list for Christmas keeping in mind everyone whom you want to buy gifts for. When you’re trying hard to save money and spend a Christmas within a tight budget, you should recheck your gift list and curtail down. Strike off the names of the people whom you could do without as this is the best way in which you can trim down your expenses. Buy gifts especially for the kids than the elderly people in your list.

4. Don’t whip your plastics: For some people Christmas is the time when you should buy everything on credit and repay the amount after you step into the next year. This is not the way in which you should think about credit as you end up digging your own hole. Use cash instead of credit and lock your credit cards back at home to avoid surrendering to the urge.

So, if you don’t want to be counted among those who are still repaying their debt that they’ve accrued last Christmas, follow the above mentioned personal finance tips and secure your financial future.

Jimmy Simond is a founder of, he share his immense knowledge of finance in this blog.