5 Tips to Prepare for a Debt Free Christmas

In a blink of an eye, Christmas will be here before you know it.  To keep your Holiday Stress Free, I’ve got 5 tips to help you to start preparing now!

Debt Free Christmas

Even before Halloween season began, the stores put out their Christmas stock on the showroom.  They are prepared and they want you to buy, buy and buy!  Many of us aren’t prepared.  We’re just thinking about Thanksgivings and we just want to take it one holiday at a time.  However in order to have a debt free Christmas.  We must prepare and prepare now.

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Family Finances – Make it a Family Affair

family finances

Photo courtesy of StockFreeImages.com

Family Finances

Finances are one of the biggest chores we have to maintain.  Various due dates and the stress that comes along with ensuring everything gets paid can be a lot for one person to bear.

So my question for you is do you make your family finances a family affair?

My husband and I didn’t grow up with solid financial teachings.  Our parents “hid” their finances from their children.  It was disrespectful to talk about family finances.  Neither one of use grew up with the knowledge of how to live within our means.

Debt is what gets us into trouble when we live in a world of want.. and want.. and want some more.  We need to live in a world where we discipline ourselves to say no.   I wish I would have learned that at an early age.  Therefore, I want to ensure that my kids grow up knowing that debt is not the way of life.

Here are some tips to get started with making this a family finances a family affair:

1.  Allowances are a great way to start.  Assign a Payday, and let your kids deduct things from their paycheck.  Have them Give, Save then Live.

2.  Plan for a “Family Finances” Night — Set a date and time and plan out your budget for the week(s).

3.  Assign a task to each person of what bill and payment they would be responsible for.  Ask questions such as:  How can we reduce this, What happens if we pay this late, Is this payment a need or a want?

4.  Play Games – such as Monopoly  and explain as you play how real people go bankrupt because of not putting savings as a priority.  This game is perfect for that, because every time we land on a property — we want to buy it, we want it, even though we may not need it and if we don’t plan well.. we’re bankrupt.

5.  Get your family started early with savings.  Open up an online savings account that have no fees or minimums, such as ING Direct .  Online savings accounts are great, because you aren’t tempted to withdrawal the money.

Getting everyone involved in family finances, can change your family tree.  It’s a great way to hold each other accountable, set financial goals and good spending habits.

Do you make your finances a family affair?  If you don’t, is this something you anticipate doing in the future?  I’d love to hear your tips on how you keep your finances in order.

Need ideas for your child allowance?  Check out my Commission Chore Chart Post

Family Finances



Create a budget and find extra money for the holidays

I made this quick video on how to create a budget.  By starting now, you will be able to find extra money to use for the holidays.

I used my iphone to make the video – not the prettiest video, but not too bad for it being on the fly.

Create a Budget


What do you feel is the easiest way to create a budget?  Comment below!  I’d love to hear your tips and suggestions.

MomsLifeboat ~ Las Vegas, NV
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