A Merry Christmas Without Cash

by Gary Foreman

Could a Christmas without cash provide an even happier holiday season? Take these steps to remove the emphasis on gifts and put it on loved ones.

It’s estimated that nearly 13% of all U.S. retail sales happen between Black Friday and Christmas. (source: Zippia.com)

However, for some families who are really struggling, there will be very little money available for holiday spending.

But a Christmas without cash doesn’t have to mean that the holidays will be ruined for your family. In fact, it may allow you to have an even happier holiday season.

Focus on What You Have, Not on What You Don’t Have

Indeed, you might not have much money, but perhaps your home is full of love. Just by thinking about what you have, you’ll lift your spirits. (See Being Thankful for Having Less.)

Take Time To Enjoy the Season Every Day

Get a copy of Dicken’s A Christmas Carol or other holiday book and read a bit each night, even if you don’t have children in your home. Books have a fantastic way of mentally transporting us to different times and places.

Be Honest With Your Family

There’s no shame in being short of money. Surviving tough times requires that all family members help. And they can’t help if you don’t let them know the circumstances (obviously, you want to keep your conversation age-appropriate).

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Make Gifts for Others

Especially if you’re unemployed, this is an opportunity to substitute your time for cash. And it gives you a chance to make something unique specifically for the recipient. (See Inexpensive Homemade Holiday Gift Ideas for the Tight Budget.)

Let Your Kids Help You

By involving them in the baking, decorating, etc., you’ll keep the children from focusing solely on what they hope to get.

It’s also an excellent time to share your own holiday memories with them and build new ones.

Help Those Less Fortunate

Deliver socks to a homeless shelter. Volunteer at a soup kitchen.

Even if you’re really up against it, it’s mentally healthy to know that you are not alone. In fact, you might find hope in serving others.

Have Some Seasonal Fun

Take the time to make a snowman or snow angel. Have a snowball fight. Walk around your neighborhood looking at the displays.

Shared smiles make better memories than expensive gifts. (See 10 Truly Free Christmas Activities.)

Give Future Gifts

Even children from poor families generally will have something to play with on Christmas morning, so it’s not critical they get everything on Christmas Day.

A coupon from you to give that special toy in February will allow you to take advantage of price drops (especially on electronics). It will also give you time to save the money to pay for it.

Consider Giving Heirloom Gifts

If your children are old enough, you might consider using this year to pass along that keepsake jewelry from Grandma or other family keepsakes.

Use Old-Fashioned Decorations

Generations before us had festive holiday homes even when they didn’t have money. Think paper chains, strung popcorn, pinecones and evergreen branches.

Substitute for That Special Gift

Ask yourself why does my child want that particular gift. There may be a better, less expensive way to accomplish what your child wants.

Search for Savings

If you absolutely must have a specific toy or electronics item, look for ways to get it cheaper. Check stores for open box or return units. Surf the manufacturer’s website for refurbished units.

Don’t Charge Christmas

If you’re struggling financially, you shouldn’t make it harder to survive January. Remember that it’s very easy to charge yourself into a corner.

You’ll notice a common thread among these ideas. Take the emphasis off of gifts and put it on the people that we love.

As I understand it, the original goal of buying gifts was to bring happiness. This could be a marvelous opportunity to rediscover that happiness doesn’t always start with a dollar sign. And, that would be good in any economy.

About the Author

Gary Foreman is the former owner and editor of The Dollar Stretcher. He's the author of How to Conquer Debt No Matter How Much You Have and has been featured in MSN Money, Yahoo Finance, Fox Business, The Nightly Business Report, US News Money, Credit.com and CreditCards.com.