4 Budgets That Ensure You’ll Have A Debt-Free Christmas In 2019


Poor planning can turn the “fa-la-la” Christmas mood into a fa-la-lot of stressful debt. Last year, it was reported that Americans came into the New Year with an average of $1,000 in debt each from Christmas spending.


That’s not in the Christmas spirit. We’ll outline four budgets that can help you ensure a debt-free Christmas in 2019. 


Each budget includes a calculated amount of what you need to save daily, weekly, or monthly (depending on your preference) in order to meet your goal. The daily amount is based on five days per week because people are more likely to stick to a daily saving routine during the workweek than on the weekends.


Each of the four budgets gives a four-month option and a two-month option. 


First, here are some basic pointers to keep in mind that will help you decide which budget works for you:

  • Assess Your Situation: Smart budgeting takes a little more work than simply saying, “I want to save this much.” Assess your finances to decide the maximum amount you can save each day, week, and month. Account for all the money that comes in and where it goes to currently (expenses, savings, recreation, etc.).
  • Be Realistic: Whether you’re deciding how much you want to save or estimating how much you’re going to spend, be overly realistic. You won’t be debt-free if you budget $200.00 and end up spending $400.00, so make sure you’re honest with yourself.
  • Look At Past Years: You may have an idea of what you spent in previous years. Use this as a guide for how much you need to budget and to help you look for areas where you may be able to trim costs.
  • Save Longer: If your budget is tight now, you may opt to wait to start saving for Christmas. Keep in mind, though, that it’s not that far off. The earlier you can start saving — especially for larger budgets — the better.

Without further ado, here are four budgets you can use as guidance, organized by the desired amount to save from small to large.


Small: The Cup Of Coffee Budget


You may be familiar with this budgeting technique because it’s easy to track and it’s very clear what you need to do to save. To refresh your memory, this budget is based on saving the money you would spend on a cup of coffee each day by making it at home (or forgoing it completely).


Whether or not you buy coffee every morning, this budget will help you save for Christmas and remain debt-free. If you’re looking to free space in your finances, think of things like coffee that you can cut down on for several months in order to meet your goal.


For just the price of a cup of coffee, you can be debt-free this Christmas. Sounds sweet, right?

Saving Schedule


If Saving For Four Months

  • Daily amount to save (for five days per week): $2.50
  • Weekly amount to save: $12.50
  • Monthly amount to save: $50

Total saved: $200

*Bonus: Add $12.50 per month to increase your budget by $50.00


If Saving For Two Months

  • Daily amount to save (for five days per week): $5
  • Weekly amount to save: $25
  • Monthly amount to save: $100

Total saved: $200

*Bonus: Add $25.00 per month to increase your budget by $50


Related: Foolproof Tips To Pay Off Debt Fast



Comfortable: The 500 Club


Depending on how many people you need to get gifts for, allotting $500 for your Christmas budget is a very comfortable place to be. By planning ahead and practicing savvy shopping, you can definitely make this budget work for you.

Saving Schedule


If Saving For Four Months

  • Daily amount to save (for five days per week): $6.25
  • Weekly amount to save: $31.25
  • Monthly amount to save: $125

Total saved: $500


If Saving For Two Months

  • Daily amount to save (for five days per week): $12.50
  • Weekly amount to save: $62.50
  • Monthly amount to save: $250.00

Total saved: $500



Modest: The Average American Christmas


Believe it or not, last year the average American planned to spend around $1,000 on Christmas. As you know, costs for the holiday can add up quickly, so planning for this budget may put you in the best position to come out of Christmas debt-free.

Saving Schedule


If Saving For Four Months

  • Daily amount to save (for five days per week): $12.50
  • Weekly amount to save: $62.50
  • Monthly amount to save: $250

Total saved: $1,000


If Saving For Two Months

  • Daily amount to save (for five days per week): $25
  • Weekly amount to save: $125
  • Monthly amount to save: $500

Total saved: $1,000


Big: The Santa Claus Stand-In Budget


If you’re not banking on Santa contributing this year, then you may want a higher budget for Christmas to make sure that the kids don’t notice.


Many Americans spend over $1,000 on Christmas. If you’re one of them, it’s best to plan early and save for longer.

Saving Schedule


If Saving For Four Months

  • Daily amount to save (for five days per week): $18.75
  • Weekly amount to save: $93.75
  • Monthly amount to save: $37

Total saved: $1,500


If Saving For Two Months

  • Daily amount to save (for five days per week): $37.50
  • Weekly amount to save: $187.50
  • Monthly amount to save: $750

Total saved: $1,500

Get It Free Recommends

FREEBIES
September 12, 2019

Get FREE Toilet Paper!

FREEBIES
September 11, 2019

Get an Android Tablet!

FREEBIES
September 19, 2019

Get FREE Tide Laundry Detergent!

FREEBIES
Get a FREE Beauty Box Subscription!
September 19, 2019

Get a Year-Long Beauty Box Subscription!

SWEEPSTAKES
September 11, 2019

Enter to Win a $1,000 Amazon Shopping Spree!

FREEBIES
September 11, 2019

Get FREE Halloween Candy!