
The Five Cent Nickel's Saving and Spending During the Holiday Season encourages a step away from consumerism and getting back to a good old-fashioned Christmas with homemade gifts or limited gift exchanges. Because many consumers have gotten into credit card debt buying gifts for exchanges during the Christmas season, it may be time for those that don't have the cash to back out of participating or limiting their participation.
If you have to use credit cards to buy it, then you can't afford it. If you are going to continue the consumerism Christmas, you need to start a separate savings account and only use those funds for Christmas purchases. Better yet, use it towards paying down debt, and ask that you not be included in gift exchanges this year at work, with friends or with family. You might find they will be relieved because they aren't in the best financial position, either.
If you think back on the best Christmas memories, many of them might be homemade gifts, services, or occasions. Not many people get all warm and fuzzy because you spent $15 on a tie, so save money and enjoy a homemade Christmas with your loved ones instead.

