How to Avoid Going Broke Over the Holidays

Gift giving can communicate love and thoughtfulness. However, at Christmastime especially, the joyful tradition might turn into a struggle.

Do you tend to overspend or feel a crushing pressure to quickly buy gifts for all your loved ones? If this resonates with you, the holidays might feel like a hectic race rather than a beautiful season when all is calm and all is bright.

You can guard yourself from stressful gift giving and keep a godly perspective in a few ways.

Look to God, the giver of all good gifts

Remembering why you celebrate Christmas helps set your mind on what matters. Spend some time reflecting on the meaning of Christmas: the Savior coming into the world. Seek Him and learn from Him in this season. Cru has created an Advent devotional for you to focus on Jesus.

If you feel overwhelmed by all the to-dos and gifts to buy, take time during your day to pause. Even if it’s just five- or 10-minute breaks in the midst of your workday, allow yourself some quiet moments. Remember the nearness of the Savior, who came in meekness and brings rest to all who would come to Him.

“So do not worry, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’ For the pagans run after all these things, and your heavenly Father knows that you need them. But seek first his kingdom and his righteousness, and all these things will be given to you as well” (Matthew 6:31-33, New International Version).

A specific way you can reflect is thinking through what you’re grateful for. Make a list in a journal or just praise and thank God in prayer. This shifts your focus to giving to others out of gratitude rather than obligation.

Another way to reset during the holidays is to notice when your mindset turns to comparison. Do you look at what others have or give for Christmas and think you need to level up? Particularly in the U.S., it may feel easy to go along with the message of buying more shiny things. But you can prioritize your relationship with Jesus, allowing gifts to take a lower spot on your list of importance. Your time with God and people is more important than the gifts you buy.

Plan how you can manage your finances during the holiday season

As you give attention to your spiritual life, it’s important to manage your material resources as well. One strategy of stewarding your money wisely during the holidays is to think and pray about which people you’ll give gifts to.

You don’t need to give a gift to everyone; you’re limited in capacity. Maybe, for you, it’s best to give gifts only to family members and one friend. It might be helpful to think about making room in your gift giving to donate to a charity that has a Christmas initiative.

Set a time to create a list of people to give gifts to, and commit to your decision. Remember, this could look different for you than it does for others.

Next, make a holiday spending budget. Take a look at your income and expenses, and decide on an amount of how much you can spend on gifts. Then track how much money you spent when you buy a gift. You could do this in a spreadsheet or just a note on your phone.

Preparing through budgeting will help you stay aware of your finances during the holiday season. Just having a plan can make a difference.

Gifts can allow you to use your hobbies or passions in a generous way. This could take the form of crafting, baking Christmas treats, writing a poem or offering to serve someone in some way. You could give a friend a card, offering to shovel snow or to cook dinner for them. These inexpensive gifts have the potential to communicate kindness.

Consider involving people in your gift giving as well. You could invite your family or friends over to make gifts, like ornaments, together. It’s possible to create gifts in a way that is restful and fosters relationships. In addition, you can give a variation of the same small gift to multiple people in your life. Examples could include a hot beverage mix or candles.

Tip: If you send Christmas cards with photos, consider printing them early to find deals online or send them via email.

Gift giving around Christmas can point to the reason for the holiday. It can help you to reflect the generosity of Jesus. It’s possible to give gifts wisely by fixing your eyes on the Lord, making a plan and seeking out ways to creatively cut back on spending.