What To Do When You’re Broke On Christmas | The Financial Diet

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Hi i’m chelsea and i’m lauren and we are the financial diet and today as you can maybe tell by my extremely festive holiday attire we’re going to be talking about christmas even though there are a lot of holidays this season we’re going to be talking about christmas specifically because that’s what we celebrate and specifically we’re going to be talking about

Celebrating christmas when you’re broke or trying to save money as i mentioned in a recent video mark and i are saving up to hopefully buy a house this year so that means a lot of cutting out when it comes to things like holidays and our birthday and our birthdays are both in january so usually december to january is like a food state of spending so the average

American will spend about $700 this holiday season and that adds up to about four hundred and sixty five billion dollars in a us alone in addition to that the average holiday shopper will spend about a hundred and seven dollars on him or herself we all know what it’s like when you’re shopping for gifts and you’re like one for them one for me for me two for let’s

Be honest now with all that considered you obviously don’t need a reason to have a minimalist slash non consumerist christmas but if it is something that you’re doing out of financial need you should never feel ashamed for that you can find yourself tie down money during the holiday season for a number of reasons maybe your student maybe you’re saving up for a


Big purchase or maybe you’re simply having a lean year it’s totally normal to feel like christmas spending is superfluous and unnecessary and the numbers with regard to the stress that people experience don’t lie 61 percent of millennials so that they feel stress during the holiday season and 53 percent of them say money is the reason and it’s women who bear the

Most of this responsibility because studies show that it’s women who take on the responsibilities of gift buying decorating and all of the other money centric holiday activities long story short having a minimalist christmas should be an open and positive thing and to help you deal with that we’ve created a three-prong list for how to deal with being broke or

At least on a budget this christmas number one is to let people know as soon as possible the truth is if you have to do some traveling for the holidays that’s one of your biggest expenses already that means that if we’re doing a no spend christmas for a lot of us we’re not going to see people who are really looking forward to seeing us i could be parents extended

Family hometown friends whoever this means as soon as possible have an open conversation with them about how you’re choosing to spend less christmas and how it might impact them let them know that it’s not because you don’t love them or want to see them but you’re definitely going to miss them and that because you’re not going to be doing a lot of gifts you don’t

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Expect any in return the more the conversation can feel open loving and reciprocal the better and also makes you find a point of it but just to restate if you’re not giving gifts you better not be accepting them so let people know upfront that you’re doing a gift free christmas number two is do something special for the people who are missing out on your company

Anything from a handwritten card to a small diy gift to a really thoughtful token is enough to make your absence feel warm rather than cold and hurtful for the people that you’re closest to in your life set budgets from anywhere from ten to twenty dollars or even do gag gifts which are always fun and don’t forget things like thrifting turn the gift search into a

Little treasure hunt our last point is to create a replacement christmas ritual that costs way less if not nothing but still feel special it should still have something that’s a little out of the ordinary and you should use the time to reflect on the things you’re grateful for and talk to the people who matter to you for example mark and i are going to be at our

Apartment this year so we’ve made a little plan on christmas eve we’re going to cook a little comfort food meals together with whatever we want and then christmas day in the morning we’re going to be skyping with all of our family and friends who are far away and then we’re going to make some cards for the new year for people and then in the afternoon / evening

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We’re going to do takeout chinese food wine and a marathon of movies it’s funny because it’s super simple but it’s actually the most in the holiday spirit i felt for a long time we’ve sort of cut out all the excess stuff and we’re really just focusing on the things that are most important to us and plus it’s really fun it feels kind of like a cool holiday themed

Sleepover and don’t worry the people that i’m missing out on seeing we’re going to go visit a little bit later in the year when we’re in a more flexible budget time and travel is less expensive it’s not about the date on the calendar that you see someone it’s about the quality of the time that you spend together and there’s no reason to force yourself to see

Someone on the 25th of december if it’s not going to be fun for you because you’re stressed out about money so as always thank you for watching and don’t forget to hit the subscribe button and go to the financial diet.com for more bye

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What To Do When You're Broke On Christmas | The Financial Diet By The Financial Diet

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