It’s time for Christmas again, and the flowers are blooming, the grass is getting green, and people who owe debt all over the world want to know how to celebrate a debt-free Christmas. But if you owe the debt and want to celebrate a debt-free Christmas, it is time to start planning about it and, more essentially, start saving now. You can also get Free Debt Advice in Washington if you face debt-related issues. 

  • Decide What Amount You Want To Spend

If you want to celebrate debt-free Christmas, decide how much you will spend. You can choose this by dividing it by the months between now and December 1st. You should know how much amount you need to save every month. 

Suppose you want to reach your goals at the end of the year, so you need to work for it and save every penny before December starts. For example, if I want to spend $1,000 this Christmas, I should save $142 every month for seven months, from May to November. If you accidentally add December to this calculation, you will end up short, which can get you into debt. 

  • Make a Budget for Gifts 

If you decide to gift your loved ones this Christmas, you need to determine to whom you will grant the gift. But it is easier to say than do. Get a sheet of paper and divide it into three categories like small gifts, medium gifts, and significant gifts. 

In the big gift category, you can write the names of your family members and best friends. This is an exclusive category, so it should not include more people. You should dedicate 75% of your budget to these people. The medium gift category should include your close friends and extended family members; you should save 20% of your budget for these people. The small gift category includes co-workers; you can dedicate 5% of your budget to them. Know about the Free Debt Relief Programs in Washington to manage your debts efficiently.

  • Create a Budget for Food and Parties

When you think about Christmas spending, one of the most overlooked ways to get into debt is overspending on parties and food. People often overspend by adding up a few bottles of wine, a couple of desserts, and a few gifts and spending half their budget. So, start planning things early if you want to be financially prepared this Christmas. 

  • Create a Budget for Travel 

If you are planning to travel with your family this Christmas, you should start planning and saving money early; otherwise, you will be in debt. You need to create a strict budget to save money to travel with your family. Planning and budgeting things for Christmas in advance will help you save plenty of time to save for your trip. This way, when the world is spending money out of desperation, you will sit pretty with inexpensive plane tickets and savings in your bank. If you are in massive debt, you can reach out to the company that offers the Best Debt Settlement Arrangement in Washington

  • Cut Off Your Credit Card 

If you are trying to lose weight for your vacation, it will not be a good idea to bring cookies and ice cream. So, if you want to avoid debt, you should not get your credit card with you. If you are serious about wanting to avoid being in debt this Christmas, you should cut off your credit card. 

The Final Words

Christmas is the festival of giving, not the season of being in debt. You don’t need to get out and buy a new car and maximize your credit cards, but you need to start planning early and focus on the genuinely essential things.