How to Have a Frugal Christmas
(and a debt-free new year)
Have Yourself a Frugal Little Christmas
(to the tune of Have Yourself a Merry Little Christmas)
Have yourself a frugal little Christmas,
Put your credit cards away.
Next year you’ll be glad to not have to repay.
Have yourself a frugal little Christmas,
Let your spending be light
Otherwise, the finance charges will be out of sight.
Once again as in olden days
Happy golden days will mount
Because you didn’t overspend
Nor overdraft your accounts.
Someday soon we will all be out of debt
If we stay the course
Until then, our budgets we will have to be enforced
And have yourself a frugal little Christmas now.
By Rev. Lynn Benson
It can be the most wonderful time of the year, but the holidays can also be the most expensive time of the year. Christmas can be expensive and stressful. Jen Hayes and her husband were buried in $117,000 of student loan debt. Now they’ve paid off over $100,000 of debt, and they’re on track to have the rest paid off by the end of this year. I found the tips from her post most helpful. Listed below are a few of my favorites. For her original post, you can click here.
BARGAINS
Shop smart. Wrapping paper, cards, bows, tape, gift tags, decorations, and more can all be purchased cheaply at places like grocery stores, dollar stores, and eBay.
DIY
Make your own gifts — it’s the thought that counts, right? To really make your dollars stretch and give gifts from the heart you can create personalized gifts or a big batch of things. Here are a few ideas:
- Christmas Cookies and Cupcakes
- Soaps
- Peppermint Sugar Scrub
And of course, homemade jellies, jams, and preserves. Wrap the handmade gifts in pretty boxes or baskets and you are done!
COUPONS
Why pay full price if you don’t have to? Check online sites like Don’tPayFull.com or a cashback website like Ebates where you get a percentage back on your purchases. These are great resources now and all year round.
BUDGET
The only way to stay on budget is to make a budget. It is easy to overspend, so budget carefully — know how much you can spend this holiday season and stick to it.
DON’T OVERSPEND ON FOOD
Don’t overspend on food. Shop from your home pantry for holiday meals and parties. If you’re hosting the party, make it a potluck—it makes for a nice mixture of foods and costs lots less.
SELL STUFF
Why not? Folks are looking for gifts and you probably have some things you could sell (eBay, Marketplace, etc.). Clean out your closets and earn some Christmas cash at the same time.
So don’t get caught up in the hype and overspend on things you really don’t need. This year, have a frugal Christmas and enjoy the magical things that don’t cost a thing. Focus this Christmas season on loved ones and enjoy a time of togetherness, peace on earth, goodwill, and a positive balance in our bank accounts.
Your UMF will be offering a new budgeting course for clergy persons beginning January 10, 2023. Saving Grace is a wonderful 7-week program that can help you start the new year with practical material to implement for a more financially faithful future. Clergy can sign up for this course here.
This article was submitted by Rev. Lynn Benson, Director of Legacy Giving for the United Methodist Foundation, Inc. If you would like more information regarding UMF, you can contact Lynn at [email protected].