Jennifer Lambert

A Sacred Balance

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How to Have a Debt-Free Christmas

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We changed our focus and priorities to have a simple, debt-free holiday.

Christmas should be about family, experiences, Jesus. Not stuff. {Tweet this}

How to Have a Debt-Free Christmas

How can we have a debt-free Christmas?

Pay cash.

We don’t do adult gifts.

If we don’t have enough money, we don’t buy it.

Stick to a budget. Plan for the holidays year-round by putting a portion of income each month into a savings account.

We’ve prepared the kids that we well have smaller Christmas than in the past. We don’t do Santa. We don’t do that ridiculous Elf or any of its cousins.

We don’t have piles of gifts like our parents provided us. I shop sales and have been very careful. I find great items year-round and store them away for the holidays.

Planning is key. I keep an Amazon wishlist updated throughout the year and watch prices with Honey.

Set a standard.

I only buy a few gifts for the kids.

I send my parents a gift card because they have more stuff than they could ever use and they like to eat out at restaurants.

My husband and I don’t give presents to each other or extended family.

If you have to do gifts with others…Organize some kind of swap with extended family, like a name drawing. Send money to a charity in family’s name instead of a tangible gift. Be creative.

We don’t watch TV.

By not being exposed to commercials, we don’t have cases of the gimmes.

It almost makes gift buying difficult and I have to be more creative and search for the perfect things. We’ve downscaled a lot. We’ve simplified. We’re picky.

I prefer quality over quantity.

I love this gifting plan:

  • something they want

  • something they need

  • something to wear

  • something to read

But, for us, there’s very little we need (such a blessing!) and I don’t often buy clothing for Christmas gifts.

We don’t know what the “popular” toys are. When someone asked if my girls wanted a particular toy for Christmas since it was “all the rage” at her daughter’s school, I had to Google it. My girls probably would enjoy it, but not because it’s popular. But then they would discard it too soon or it would break.

We don’t strive to keep up with society and it’s so much more relaxing not to have to compare.

We focus on the meaning of Christmas: Jesus.

We read through Advent studies each day. We love the books by Ytreeide. This year we’re reading Bartholomew’s Passage. We light candles and pray and sing carols and we’re together.

We read about and celebrate St. Nicholas day on December 6. The children know this is the base for the legend of Santa Claus.

We learned about and celebrated Hanukkah during our Ancient Studies history and it has become tradition now.

We decorate simply.

Our house doesn’t look like it’s out of a magazine or store catalog. No Anthropologie or Pottery Barn here. We live here; it’s not a museum.

We have an artificial tree. We have a lovely Advent wreath and a new Jesse Tree this year! We’re making do with what we have. Alex wanted the outside of the house decorated and we managed to do it well with lights we bought on clearance years ago. Win!

Our church has an ornament exchange so each of my children gets a new ornament each year. They love it. And their hearts are better than mine that they’re never disappointed in the ornament they receive.

We just don’t go shopping.

It’s really that easy.

My mom used to love to go shopping as entertainment. I don’t. I don’t need retail therapy.

I don’t subscribe to store emails. We don’t get newspapers.

We stay home on Black Friday. We don’t go online all weekend long. We find other stuff to do.

We have a budget and are doing better sticking to it. I go to the grocery store when we need to stock up (and honestly, this is where most of our money goes! We like to eat well).

We go to stores when we need a particular item.

I do most of my buying online long before November. If we don’t go to stores, we’re not tempted. But I’m also learning to get offline when all the sales start. That’s becoming a temptation too. Just because it’s a deal, doesn’t mean we need it.

We read lots of fun and meaningful Christmas books.

I keep books with the holiday decorations and we get more from the library.

A favorite this year is The Dinosaurs’ Night Before Christmas. The accompanying CD is a parody of Christmas carols with hilarious dinosaur fun. The kids love it.

I hope to do some useful crafts and homemade baking projects to share with friends this week. The kids love that and it fits in with our servant leadership goals. We don’t eat many sweets, so these are fun and frugal gifts.

Check out this Essential Guide to a Crap-Free Christmas.

Resources:

How do you stay of debt during the holidays?

What are your priorities?

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5 Money Tips

This blog may contain affiliate links: disclosure.
Please see my suggested resources.

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We all want to be considered wise and knowledgeable.

Sometimes, we can’t think straight when it comes to managing our money.

Are you good stewards of what the Lord provides you? Are you training your children to be good stewards? Are you leaving them a legacy?

Through skillful and godly Wisdom is a house (a life, a home, a family) built, and by understanding it is established [on a sound and good foundation],

And by knowledge shall its chambers [of every area] be filled with all precious and pleasant riches.

Proverbs 24:3-4 AMP

Debt is a harsh master.

Are you a victim of our culture’s lies about money?

More, more, more.

Are you trying to fill a hole in your soul with more stuff?

Only God can fill you up and teach you to be content. And help you achieve freedom from debt.

  

5 Money Tips

1. Pay Cash.

This seems like a no-brainer, but it’s really hard.

We have credit cards. We have a debit card. We have ATM fees. We have a spending plan. I use an Excel spreadsheet. We have debt. Back to square one.

We just need to quit buying stuff.  Just quit charging! Cut up those cards or put them in a big bag of water in the freezer. By the time it takes to unfreeze, you’ll have thought better of that purchase.

Don’t store your card numbers on websites – like Amazon. It’s too convenient.

Studies show that paying cash makes you really think about those purchases rather than swiping that plastic.

Live within your means. It might be shocking at first and there’s a steep learning curve, but you’ll get used to it.

Are you a debt slave?

Are you trying to fill a hole in your soul with more stuff? Only God can fill you up and teach you to be content. And help you achieve debt freedom.

The Bible says you’re a slave if you have debt.

Now, I know most of us don’t consider car loans and mortgages debt. Not many can pay cash for cars or houses.

Set your own goals. Our goals are to use no credit cards nor have any unsecured debt.

I know some people who forbid debt in their lives in totality. What freedom that must be!

The poor are ruled by the rich,
and those who borrow
are slaves of moneylenders.

Proverbs 22:7 CEV

Owe no man anything, save to love one another: for he that loveth his neighbor hath fulfilled the law.

Roman 13:8 ASV

2. Evaluate where you can save money.

Do you need to add energy savers to your home? Paying a little upfront to seal door cracks or upgrade windows or add insulation could save you lots in the future.

Can you bike to work? Can you live with one vehicle? Can you combine errands to only go out once a week to save on fuel?

Keep your cars maintained so they don’t end up costing more when things break.

Buy second hand items when you need something.

Can you grow a garden to save on groceries? Can you get paid to recycle in your state? Get a water filter and reusable bottles instead of purchasing plastic bottles of water.

Can you make your own cleaners? Can you replace paper and single use plastic products with reusable ones?

Set up a healthy menu and plan meals at home (we love eMeals!) instead of eating out.

Cancel those catalog and magazine subscriptions. Unsubscribe to store emails and alerts and texts. If the temptation isn’t there…

Subscribe to emails that list free apps and Kindle eBooks. Use your local library instead of purchasing the latest novel. The list is endless and it all depends on your comfort level. 

If you’re a homeschooler, there are oodles of options for free and frugal curriculum. 

Are you one of those pampered people who buys a latte at the coffee shop every day? Do you get mani pedis regularly? I’m not saying to stop caring for yourself, but you must set priorities. Treat yourself less frequently perhaps. I wish I had all that money back from when I wasted so much!

pamper-yourself-at-home.png

Do you go out for happy hour with friends periodically?

You can do all that at home for so much cheaper. Make life more meaningful and save money. Rotate homes every week or month. It’s easier for parents too.

backyard-cocktail-hour.png

The Bible says that God will provide all our needs.

Make sure you evaluate your needs vs. your wants.

I know. Sometimes I need chocolate too. Don’t starve yourself of treats or you’ll binge. Just be careful and frugal and set priorities. Communicate with your family.

3. Rethink gift giving.

Simplify.

We don’t throw huge birthday parties for our kids. We celebrate at home with a special meal and decorate frugally.

For Christmas and birthdays and other gift-giving holidays, we prefer experiential gifts to more stuff.

If you have family members who don’t understand or agree, look into group giving exchanges like a charity or memberships to museums.

Cards are pretty and thoughtful, but they’re just expensive clutter. Send eCards instead.

Shop thrift stores. Make your own decorations and invite the kids to help to make it more festive!

Teach a spirit of giving to others. You can give services or time instead of things.

If you give stuff, check out this shopping schedule and plan accordingly.

What good is it for someone to gain the whole world, yet forfeit their soul?

Mark 8:36 NIV

4. Educate yourself.

My husband and I come from very different money backgrounds.

His parents didn’t discuss money with their kids. At all. When they passed on during our first year of marriage, it was confusing and stressful to work out their affairs.

My parents were always very open with me about money. They are very organized. They have file folders for each account in a strong box with all the info so it’s easy to access in an emergency. My name is on the accounts to make my life easier when they pass so I won’t have to pay unnecessary taxes. They explained the process of banking and loans to me all my life. I attended their professional financial meetings so I could listen and ask questions. I so appreciate that practical education. They helped me buy cars – and my first house when I was in my 20s. I know what they’re worth and how they got there. They are very conservative, but they live very comfortably in retirement.

It’s an uncomfortable conversation for many.

Do you know how much you’re worth? Do you have investments? Are you utilizing the best options for saving towards retirement? Do you have enough insurance? What would happen in an emergency? Do you have enough in savings? Do you understand interest rates, CDs, money markets, savings bonds? Do you have parents or loved ones with whom you need to discuss finances? Will you or your siblings be responsible for caring for elderly parents? Are there funds in place for that?

Are you planning for your and your kids’ futures?

Read the Parable of the Talents. Which son do you relate to and why?

financial-goals.png

5. Be proactive.

Have a family notebook or protected computer file with all your information in case of an emergency.

We have IRAs. We have mutual funds.

We have 529s and CDs for our four kids. All the kids have life insurance and savings accounts.

We educate the kids about money and where it comes from and how banks work. I explain the dangers of credit cards. I want them to know the differences between debit and credit.

My teen has a checking account and a check card through USAA.

We know we receive an inheritance from Aaron’s aunt at certain intervals, dividends from Aaron’s mom’s IRA every September, when my parents pass on.

Consider your financial goals.

Are you prepared for your kids’ higher education? What is your vision for that?

Are you planning for retirement? What do you want retirement to look like?

Do you have extended medical needs? Look into flexible spending or separate savings accounts for that. Check into alternative medicine. Prevention is better than treatment sometimes.

Be sure you know the condition of your flocks,
give careful attention to your herds;
for riches do not endure forever…

Proverbs 27: 23-24a NIV

Money Resources:

Courtship Topics. These discussion topics (especially about money!) are great to discuss, even years after you’ve married. We weren’t on the same page at all in many areas nor did we even know! If you and your spouse don’t have the same financial goals, it will be almost impossible to get anywhere together. Finances are always an area of conflict in marriage.

Crown Ministries. I used to teach a Sunday school class for single moms on finances using these materials. They have some great tools for families.

The Money Couple. Take a money personality quiz to find out what you really think about money use. Discuss with your spouse.

Dave Ramsey. You either love him or hate him. I actually refuse to purchase his materials or pay for his course on principle. I know many who have achieved financial freedom through his teachings. I just think he capitalizes and profits off people’s ignorance and weakness. Judge for yourself.

USAA. Or your local bank or credit union. They have great teen resources to get your kids started out right in the financial world. We like our one stop shopping since we move around so frequently with the military.

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Homeschool Frugally:

Plans are established by seeking advice;
so if you wage war, obtain guidance.

Proverbs 20:18 NIV

Wage war on that debt!

Resources:

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