It’s that time of year again. Everyone is out and about trying to get their shopping done for the holidays. Some of you may have even braved the Black Friday sales last week. As a single parent money is always tight. Most of us are living paycheck to paycheck. There’s barely enough money to provide the essentials, let alone everything else. There is rarely any money left over at the end of the month as it is. The thought of having to find a way to finance Christmas on top of that can be more than a little daunting for some parents. I’ve been stressing about it for months. I have always been particularly frugal. I’ve spent most of my life avoiding debt at all costs. While I do have several different credit cards I always pay off the balance every month so that they aren’t accruing interest and I’m still building credit.
This time of year it is easy to just swipe that little piece of plastic through the machine. In today’s society it is almost strange to see anyone paying with cash anymore. Unfortunately, it is all too common to fall into the debt trap. You pay your minimum payments, but forget that the interest is accruing. In the end you end up spending way more money than you ever would have originally and you are digging a hole that is nearly impossible to get out of. If there already isn’t much left over at the end of the month how are you going to be able to scrounge enough money for even the minimum payments every month? Don’t ever spend more than you are able to pay back, even if it is Christmas.
You may be wondering how you will possibly be able to afford Christmas this year without the use of your credit card. The thing that has helped me the most is taking it one little week at a time. If you pick a few items each week it is less of a struggle than doing it all at once. Also look around and make sure you are getting a good deal. Many stores, like Walmart, will price match their competitors. Don’t be afraid to take advantage of that. It may end up saving you a significant amount in the end. If you have any old giftcards that you’re not using, try trading them in. Some online companies will pay you for your unused giftcards. You may also try places like ebay and craigslist. You don’t have to go into debt this Christmas. Baby steps! Take it one little chunk at a time, your pocketbook, and your children, will thank you later!