It’s not worth it to spend on others to your detriment, though. If you’re in debt, adding onto it isn’t going to help! Your loved ones should understand that, and if they know the situation you’re in, I’m willing to bet they would rather see you put your money toward paying down your debt.
It’s important that you don’t ignore your debt during the holidays, because it’s extremely easy to go overboard and burden yourself even more in 2015. There’s no reason to go into the new year in a worse situation than you were in before. How can you look forward to the new year when you’re dreading the moment your credit card bill shows up in the mail?
I know I wouldn’t be able to, and you probably wouldn’t, either. Here’s how you can focus on your debt in spite of the holidays.
Put Yourself First
Who else is going to look out for you? I know, everyone is in the spirit of giving for the holidays, and you might even be tempted to give yourself a present. Instead, why not give yourself the gift of not adding onto your debt?
It sounds like a weird idea, but the best gift you can give yourself is putting your own situation first. You can’t control what other people do, so focus on what you can control – and you can definitely control your spending.
Make debt your number one priority, and it will be easier to stay focused on that goal, despite all the hype around gifts.
It’s the Thought that Counts
If you’re like me and are in student loan debt, or finding yourself a bit short on cash, there’s no reason to feel bad about it. You can still make someone’s day, even if it’s just with a handwritten note or homemade item!
If you can create a thoughtful gift yourself, or buy something on the smaller side that a loved one will truly enjoy, then do so. An expensive gift doesn’t automatically equate to the best gift you can give someone.
You should look to give gifts that the people in your life will actually appreciate – and surprisingly, they may not be the most costly.
Don’t Get Caught Up in Deals
There are plenty of tempting deals circulating around, and there will be even more after Christmas has passed.
While there’s only a little time left to get in on last-minute shopping, it’s important not to get caught up in the hype. Your friends and family might be talking about all the awesome deals they got, and you might feel left out.
That’s okay. Why? Because you saved, and they didn’t. Even if they got amazing deals, it doesn’t mean they made their financial situation any better. Spending is still spending.
Aim to make this holiday season a debt-free one, and make sure you do some damage control if you’ve already found yourself in the red!
Have you lost focus on your debt in light of the holidays, or do you try your best to strategize your spending?