It’s the most wonderfully expensive time of the year. As Christmas approaches, many of us that have already been scraping by, are faced with difficult circumstances of trying to afford a nice Christmas for our families.
Nearly half of parents have gone without gifts for themselves or their partner in order to afford more gifts for their children, according to new research. Even when you cut back on everything else, Christmas for families can be a source financial stress.
A new survey asked people what they’re doing this year or what they normally do to scrounge up some extra cash to afford presents, trips, food, and everything else that costs a fortune during the holiday season. And here are the top 10 answers . . .
1. Taking extra shifts at work, 33%. If your employer has open shifts you might get some extra scratch.
2. Opening a store credit card, 31%. Even though you KNOW that it will come back to haunt you in January and February, it may be the only opportunity to add funds to your stretched out budget.
3. Taking a second or part-time job, 31%. If you don’t have a second or third job to make ends meet already.
4. Starting a side hustle, 29%. This may also have tax implications as you close out the year so be aware.
5. Cutting back on electricity and heat, 29%. Not to sound like your dad but you will totally sound like him when you tell the family to stop touching your thermostat.
6. Opening a new credit card, 29%. Since all the ones you carry now are already maxed out.
7. Cutting back on going out to eat, 27%. Take advantage of when people at work bring food and gorge yourself. Go home full.
8. Making a deal with their significant other not to get each other gifts, 27%. May I suggest a BBay certificate to reduce cost.
9. Using public transportation, 26%. Great, if you’re in a metro area with actual functioning public transportation choice. Not real useful in rural areas.
10. Skipping a vacation, 25%. Vacations are those things that people who can afford to travel or can actually take time off from work do.