As the holidays bustle in, so does the joy of the season. Make sure to keep the joyous part of the season alive by reducing your stress and managing your holiday spending. The best place to start is by putting away the credit cards. Nothing can take the joy out of the season more than a credit card bill at the start of the New Year. Here are seven ways you can avoid holiday credit card debt.

1. Open a Christmas Club or Holiday Club Savings Account

Christmas Club accounts are a savings tradition that have been around for a long time…and there is a reason for that…they work. You put money into a savings account at regular intervals throughout the year…and by the holiday season, you have the cash for your gifts. Today you can open a savings account for anything you want to save for in the future…but holiday spending is a perfect reason to open an account today! Make this your first stop to avoid holiday credit card debt before hitting the mall!

2. Stick to Your Budget

Just like Santa, make a list and check it twice…to avoid credit card debt and make sure you are not overspending. Set your budget – what you can safely afford to pay for without using your credit cards. Make your list and estimate your costs. Check to make sure this all fits within your budget. Stay strong and within budget…remind yourself of the spirit of the holiday, and the holiday credit card debt you don’t want to incur.

3. Commit to Cutting Back

When setting up your holiday budget, truly commit to cutting back on spending. This is especially hard when you truly enjoy buying gifts for those you love. Most people with a big heart love giving gifts to their family and friends because they want their friends and family to be happy and know how much they care and appreciate them. But these are your friends and family who know your love without a value attached. A commitment to cutting back is a commitment to avoiding holiday credit card debt.

4. Reduce the Number of Gifts

Watching family and friends open gifts is all part of the joy and fun of the holiday season…especially children. But we have all seen it where too many gifts can almost seem overwhelming. When we have fewer gifts, we have time to really express our love and appreciation and take time to give and receive…which is the beauty of the holiday.

5. Do Something Different

Traditions are heartwarming because they are familiar and remind us of the things we cherish from the past. (Hopefully the things we appreciate!) And we always want to keep some traditions. But perhaps this year you switch things up and do something different when it comes to gifting… like drawing names, having a “white elephant” exchange, or simply have a lovely dinner and share your best memories of the year, the holidays, or what you are most grateful for during the season.

6. Put a Limit on the Gift Amount

In the spirit of the season, gift giving is usually a sign of appreciation, caring and love. Over time, the amount of gifts we give to our families in particular can get out of hand especially if we know our family members might need things or we simply can’t pass up the opportunity to give more. But use your will power and put a limit on the amount you will spend…and perhaps even the amount of gifts you will give. Remember – use cash only and this will help.

7. Do Some Soul Searching

During this joyous time, it’s always good to pause and truly consider how you give and why you give. This will help you fully appreciate the holidays and the true meaning of why we give and receive gifts. When we take time to do a little soul searching we realize the holidays aren’t really about the amount we spend or  credit card bills we incur…but the time we spend with family and friends to show our love, care and appreciation.

Make this holiday more meaningful and less stressful. Use these seven steps to help you avoid holiday credit card debt, so you can concentrate on the true meaning and spirit of the season. You can also check out some of our other blog posts, or personal loan options to help you mange your finances. Happy Holidays!