Christmas Budget Challenge for a Debt Free Christmas

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Christmas Budget Challenge for a Debt Free Christmas

Christmas Budget Challenge for a Debt Free Christmas

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Are you ready to save money in advance for Christmas this year? Then, you are in the right place.

With this Christmas Budget Challenge, you will be prepared for holiday spending and not be scrambling at the last minute.

Christmas Budget Challenge for a Debt Free Christmas

Get prepared for a debt free Christmas!

Tired of overspending? This challenge is perfect for you.

Tired of the post-Christmas debt hangover? This is exactly what you need.

The Christmas Budget Challenge is wonderful for someone who wants to take control of their life both their time and their money. Plus enjoy a debt free holiday season!

In 2017, the average family spent $900 on Christmas, according to . Do you have $900 lying around for just Christmas gifts, decor, food and any other miscellaneous Christmas items?

Christmas Budget Challenge for a Debt Free Christmas

If the answer is no, don't fret. That is probably 90% of society. Keep reading and you can change that.

In order to have a debt free Christmas, you must save up in advance and plan your Christmas budget.

Collectively, over one trillion is spend on the holiday season. Be prepared for next Christmas.

Remember, saving money is setting money aside today to be used for a future purpose.

In order to have less stress around Christmas, the goal to fund your Christmas money envelopes the week of November 1st.

Christmas Budget Challenge for a Debt Free Christmas

That way you have plenty of time to shop around, get the , and be the first one with wrapped presents.

Let's talk about … They are the perfect place to put your cash so you have money saved when the holiday comes. No paying on credit cards and having the January debt hangover.

If you prefer an online option, then use a .

We want a debt free holiday season!

Even a smaller holiday that you can afford is better than a huge holiday that you can't afford. Period.

Christmas Budget Challenge for a Debt Free Christmas

Please note… Just because you may finish your Christmas shopping early, doesn't mean it is a free pass to keep spending on those last minute items. That will wreck every .

Christmas Budget Challenge for a Debt Free Christmas

All of the Christmas Budget Challenges will be based off the average Christmas budget each year. Just remember that number is collective of gifts, food, decorations, and any miscellaneous holiday items.

Because every family and their personal finance situation is unique, we will break this Christmas Budget challenge up into various spending levels.

You choose which will work best for your family.

Christmas Budget Challenge for a Debt Free Christmas

Let's discuss how these numbers we decided for the Christmas Budget Challenge. First, the average family spent $900 on Christmas in 2017, according to . Regardless of whether you think that number is jaw-dropping high or way too low. That was the average amount spent. Those are the statistics.

So, for this challenge to have a debt free Christmas, we are going to break that into three different levels.

Christmas Budget Challenges Levels:

- Average Christmas Budget – $900

- Frugal Christmas Budget – $450

Christmas Budget Challenge for a Debt Free Christmas

- Luxury Christmas Budget – $1,800

Just a side note…The average spending of $900 at Christmas includes amounts put on credit cards that weren't able to be fully paid off.

The goal is to save $900 by the week of November 1st.

This challenge is about having a debt-free Christmas and holiday season.

Don't think it is possible to have a fabulous holiday season without debt?

Christmas Budget Challenge for a Debt Free Christmas

Let me tell you… IT IS POSSIBLE!

We have done it each and every year. There is no post-hangover stress or guilt on how much was spent.

Also, makes sure to check the end of the post for the dates for 2019!

Average Christmas Budget – $900

For the first challenge, we are going to be average. Plain, old average. Nothing fancy here. Also, we are assuming the average spending is the same as the average Christmas budget.

Christmas Budget Challenge for a Debt Free Christmas

We are making the assumption that you plan to spend the average amount as each American family did in 2017.

Average Plan Weekly Amount to Save

Frugal Christmas Budget – $450

Next, the frugal Christmas budget is half of the average amount spent on the holidays. A fabulous Christmas put together for under $450. Personally, we have always limited the number of gifts.

Frugal Budget Weekly Amount to Save

Christmas Budget Challenge for a Debt Free Christmas

Luxury Christmas Budget – $1,800

Lastly, the luxury Christmas budget is for someone who has the capability to spend more and wants to make sure it is done without . By saving in advance, there are so many more options available when the holidays roll around.

You plan to save $1,800 for the holiday season.

Luxury Plan Weekly Amount to Save

Based on when you are reading this post will determine how much to start saving by date.

Christmas Budget Challenge for a Debt Free Christmas

44 Week Savings Plan: January 1, 2019

30 Week Savings Plan: April 6, 2019

23 Week Savings Plan: May 25, 2019

18 Week Savings Plan: June 29, 2019

15 Week Savings Plan: July 20, 2019

Christmas Budget Challenge for a Debt Free Christmas

9 Week Savings Plan: August 31, 2019

Now, it is one thing to say, “I'm going to start saving money for Christmas this year.”

It is a completely different to actually act on it.

The BIG recommendation is to get it outside your temptation to spend!!

There are two options on where to save your Christmas budget money.

Christmas Budget Challenge for a Debt Free Christmas

The first option is an online account. Personally, this is my . Simple reason on why. It is harder to access the money . Plus, it is simple to set up an automatic transfer and forget. Then, money is set aside in a separate account until you need the funds.

The second option is to use a cash envelope. This one comes with the temptation to dive into the money set aside for a debt free Christmas. Personally, I think the prettier the envelope, the likelihood to use it goes up.

Check out the list of . Pick up your Christmas money envelope now!

Are you up for the challenge? Make this year your first debt-free holiday season.

Start saving now in order to have a debt free Christmas.

Christmas Budget Challenge for a Debt Free Christmas

And enjoy a stress-free holiday!

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Christmas Budget Challenge for a Debt Free Christmas

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This will alter your view of money and your life.

Kristy is the founder of Money Bliss. She has a passion to help others – specifically anyone who deals with money. As a wife and mom, Kristy understands the daily struggles with money and joys of life with kids!

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