Stay Debt Free this Xmas - Top 10 Tips

by Linda Anderson

Xmas can be a financially stressful time for many people and that takes the fun out of the festive season. The funny thing about Xmas is it occurs every year and at the same time every year! So with a little bit of planning you can take the stress out and stay debt free.

Here are my Top 10 tips to get you on you way:

Tip1. PLAN

Write a list of the friends and family members you wish to give a present to. Next decide on your total budget for Xmas presents. Next to each name add a maximum dollar value for the gift and ensure the total does not exceed you budget! If you have ideas for gifts start listing them now – it will help your shopping trips be more focused.

Tip 2. STICK TO THE PLAN

When you do your gift shopping stick to the plan – avoid impulse buying. That stereo might be a great “bargain” but if it is over your budget you need to keep walking.

I am sure you have great taste in gifts – do you ever buy a gift for someone and buy it for yourself as well? You will get plenty of gifts for Xmas – no need to buy for yourself as well.

Tip 3. START NOW

Rather than waiting until 2 weeks before Xmas and spending all your money in a short period of time start buying now. It is much easier to afford one gift each payday than 10 all at once. Find a good hiding place in your cupboard!

Tip 4. USE LAY-BY

Credit Cards are easy and convenient but if you struggle with debt over Xmas leave them at home! Interest rates on unpaid monthly balances are an unnecessary cost. If you have started shopping early you can pay a small amount each payday off your lay-by without going into debt. Keep you spending manageable.

Tip 5. HAVE A SAVING PLAN

Have a separate bank account for Xmas savings. Many banks have accounts that earn “bonus” interest if you make a deposit and no withdrawals in a month. Many of these accounts have no bank fees. You can arrange for set amounts to be automatically transferred to that account each payday. If you don’t see it you can’t spend it! If you are comfortable banking online there are also good “virtual” accounts with Credit Unions that pay around 5%pa and allow you to transfer money out of account with no penalty.

Tip 6. THINK OUTSIDE THE SQUARE

It really is the thought that counts so think outside the square. People love gifts that have a personal touch to them.

• make Xmas chocolates, cookies, jam etc to give to friends
• give a gift voucher for 10 hours of babysitting
• make a donation to charity in their name
• give a voucher for 5 lawn mowing afternoons (to be provided by you)

Tip 7. INVOLVE YOUR FAMILY

Discuss your plan to stay debt free with your family and discuss ways that the whole family can be involved. There are no rules – find something that works for your family and keeps Xmas fun. One popular idea is to not buy gifts for all the adults in the family – just the kids. The adults each select a name and buy a gift for that adult on behalf of the whole family. Xmas is about love and sharing not about how many presents you receive. You will probably find other family members feel relieved to be able to reduce their Xmas spending too.

Tip 8. ANOTHER COFFEE?

Start becoming aware of what you spend on “little extras” each week – coffee is my favourite place to start. Buying just 1 coffee a day can cost you $10 - $15 per week … buying lunch each day at work can cost you at least $25 per week. I think you get the point. If you are serious about keeping out of debt this xmas start taking your lunch to work or having instant coffee …. put the money you save into your xmas account. You will love how quickly this adds up!

Tip 9. LEAVE THE PLASTIC AT HOME

That’s right – leave the Credit Card at home! If it is not in your wallet you cannot charge Xmas shopping to it. It is so easy to accumulate debt without even being aware of it – once you do it snowballs into something much greater than you can handle and becomes a weight to begin the New Year. Use cash or you debit card – you can’t spend money you don’t have.

Tip 10. BE COMMITTED

You have a choice. If you are 100% committed to being debt free for Xmas then you will make it happen. It takes focus, desire and discipline not to take the easy, convenient and expensive way out of Xmas shopping. ‘Those who want to succeed will surely find a way, and those who don’t will find an excuse’ “a thousand paths to tranquility” David Baird

Linda Anderson is a Certified Professional Coach working with Small Business Owners and Professionals in Australia, New Zealand and the USA. Linda helps her clients succeed in business and in life by creating strategies to overcome their obstacles to success. In 2002 Linda and her partner sold all their belongings, hit “pause” on their respective careers, and spent 365 days traveling the world. Linda brings this passion for challenge, new experiences and adventure to her coaching. You can visit Linda at her website – www.a2acoaching.com

For more great articles please click here.

How Many of the 50 Spiritual Movies in this Free Ebook Have You Seen?

Download it Now for FREE

The 50 Spiritual Movies ebook is free for you to enjoy and distribute. It comes with a list of 50 spiritual movies with reviews. It is in PDF format so can be enjoyed by both PC and Mac users.

The 50 Spiritual Movies ebook features some interesting spiritual cinema. Extend your circle of impact by sharing this free ebook that also includes a number of links to some of the best charities around.

By reading it and passing it on you'll be exposing yourself and others to some positive movies and some very worthy charities. These charities help others all over the world.

Download your free copy of 50 Spiritual Movies by right clicking here (it is in pdf format).

For a faster loading copy (same ebook just fewer graphics) just right click here to download.

Now You Can Make Money and Help Others with Your Own Branded Copy of 50 Spiritual Movies - and it's Free!

Click here to get it now.

Free Spiritual Tools Ebook

Now you can quickly download this free spiritual tools ebook. It is filled with links and resources to a variety of the newest tools you can use to grow spiritually. Enliven your spiritual journey with some amazing tools that will keep you positive and motivated and accomplishing what you want in life.

Within this free spiritual ebook you'll also find links to free downloads of powerful software and ebooks.

Download your free copy of the Spiritual Tools Ebook by clicking here.

For the latest in spiritual tools you can use visit our page of spiritual resources for spiritual renewal.

A Thousand or More Minds Sending You the Energy of Abundance and Success? Tap into the Power of Wealth Vibes - it's Free.

Yahoo! News - Search Results for motivational Yahoo! News - Search Results for motivational Bleier to be guest speaker at the Champions dinner (The Youngstown Vindicator) In his motivational speech, Bleier will talk about the challenges he has faced. YOUNGSTOWN ? Rocky Bleier, Vietnam War veteran and former running back on the Pittsburgh Steelers Super Bowl teams, is the guest speaker for the Youngstown/Mahoning Valley United Way's upcoming Champions Among Us dinner. Results Seminars and ServiceElements(TM) Partnership Helps Customers, Broaden... ServiceElements, a customer service motivational and strategy firm, announced today it has formed a partnership with Results Seminars, a sales management and personal development training firm, to collaborate and partner on workshops, seminars and sales and service boot camps as well as refer business to each other. 'Survivor' Hatch pleads innocent to tax evasion (Reuters via Yahoo! News) Richard Hatch, who won $1 million on the CBS hit reality show "Survivor," pleaded not guilty on Monday to tax evasion, bank fraud and other charges, a federal prosecutor said. Chad and Jets snap out of it (New York Daily News) After a week of motivational speeches, high-intensity practices and some old-school butt-chewing from the "bad cops" on Herm Edwards' coaching staff, the Jets thought they had purged the Kansas City debacle from their memory. It took, oh, about 20 seconds yesterday to experience a flashback. Roy To Speak About Overcoming Hurdles After Paralysis (WMTW) A Boston University hockey player paralyzed 10 years ago will speak in New Hampshire Monday about how he overcame personal tragedy and launched a career as a motivational speaker. Kerry play mind games (Belfast Telegraph) Kerry manager Jack O'Connor yesterday came up with what he believes will prove a major motivational ploy in the build-up to Sunday's All-Ireland football final against Tyrone. PREP VOLLEYBALL: Sandpoint wakes up, earns coach first win (Coeur d'Alene Press) SANDPOINT -- Sometimes a little motivational speech is just what the doctor ordered when your team is winless on the season. After a lackluster first game, first-year Sandpoint coach Karen Alsagar took her team into the locker room and gave them a little wakeup call. Newsfeed display by CaRP