Christmas savings tips!

Christians Against Poverty (CAP) released helpful hints for those in a bit of a budget crunch this Christmas season.  Their suggestions include making homemade gifts, offering services instead of material goods (for example: free babysitting voucher), and avoiding buying out of obligation.

The biggest mistake to avoid however is taking out a loan to help with Christmas costs.  CAP claims that those who took out loans around the holiday season often feel more worried or depressed afterwards.  And of course, having the loans to pay back, along with the interest, doesn’t make saving money and investing for the future any easier.

CAP’s hesitance over holiday-borrowing and encouragement to be fiscally conservative stems from the conspicuous fact that as of now, the economy, the job market, and various factors affecting standard of living (benefits, utilities, etc) are all very unstable.

CAP Chief Executive Matt Barlow explains,  “We’re not party poopers. We just want people to enjoy Christmas and not be anxious about whether they will be able to pay it all back.”

He continues, “These are difficult times for a lot of us and the temptation is to say ‘at least we’ll have a great Christmas’ and use that as an excuse to spend what we haven’t got.”

Mycatholicblog took a lot of CAP’s great hints to heart, and especially likes tip #7: Remember – you can’t buy love. Don’t feel guilty if you can’t afford the latest present for your children. Your love and affectionwill last longer in the memory than any toy can.