Forum Thread: How to Celebrate Christmas on Budget?

Christmas is the time to celebrate and spend time with family and friends. Poor credit score or incessant cash crunch should never hold you back from having a gala time with loved ones.

We all cherish childhood memories of Christmas Carol. Whether you are a millennial or baby boomer, you know how important it is to plan Christmas in advance every year. However if you have missed the opportunity and are unwary of your plans to welcome the Big Day, here is a step by step guide for you to unite with family this Christmas.

Step 1: Make a Guest List

Keeping all worries of bad debts aside, start putting your goals on a piece of paper. Note down who all you wish to celebrate your Christmas with. Depending on the number of guests you can set the level of the party. Remember celebrations with loved ones are never rated on how much you spent; it is all about how much fun you had with them!

Step 2: Calculate Expenses

You must note down all expenses. Besides the regular drinks, party food and gifts; calculate additional costs including travel expenses of guests outside the city. Do you want to travel to your home town or send tickets to your parents? Note down all the expenses.

Step 3: Assess Your Credit Situation

Being tight on budget it is important to conduct a SWOT analysis of your credit situation. Write your strengths, weaknesses, opportunities, and threats. This would help you know all the sources of expenses and funds with you.

Step 4: Have a Budget

After knowing the expenses, debts and income sources, you would need to decide if you would be interested in raising small Christmas loans or would like to share the responsibilities with your friends. When you have incessant cash crunch, sharing expenses with loved ones is a great tip.

Step 5: Share in Kind, if Not Cash

In case you do not wish to share the finances you can have a house party with close friends on Christmas. You can have a small friendly competition and ask everyone to contribute and come with creative ideas to make party a fun. Or, you may also ask each family to bring a dish for dinner. Likewise you can share expenses for drinks, decoration and gifts. You can make small groups and they can collectively share expenses for each category.

Step 6: Search Online Deals

Online is the best place to shop the budget deals. You can search for special Christmas discounts on several discount sites. You can buy the same gift for all to get the huge discount. You have to be creative to save here.

Step 7: Planning for Christmas Loans

If you decide to use Christmas loans for celebration, make sure you use a broker's advice. They are experts in locating rare deals available near you. They share free advice for borrowers with credit hassles.

Step 8: Save, Save & Save Everyday

Last but not the least you must save every day. Simple lifestyle changes like cutting your coffee, alcohol or cigarettes can help you save enough till the D Day. With a decent reserve fund you can successfully repay the loan and build good credit history.

Following all these points you can have memorable Christmas celebration without making a hole in your pocket.

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