Louisiana Shoppers: 5 Ways Not to Go Broke This Christmas

Christmas will be here before we know it; follow these tips on giving great gifts without breaking the bank. You are not alone if you want to get great gifts without ruining your bank account balance or living with a bunch of credit card debt after Christmas.

NerdWallet.com reports in its annual holiday shopping guide (latest data available) that people will buy gifts for Christmas, but they will be careful about what they spend. Some say they will have to pair down the list of who will get a gift.

The prices of everything seem to continue going up. While prices for things like bread have dropped, most other goods and services have been dramatically impacted by inflation. And prices aren't going to go down anytime soon.

Looking back on 2022, NerdWallet says that 52% of people went into debt that year to pay for Christmas. So, maybe there are some things we can think of now to help us save more money this year.

# 5 Cut Down on the Number of People Who Get Gifts

One of NerdWallet's most significant tips is simple: Reduce the number of people you will give gifts to this year.

You can openly discuss with your family and friends and agree not to exchange gifts this year.

If you're nervous about how to start the conversation with your friends and family, pull up this article and have an honest discussion. You might be surprised that the ones you love are also considering cutting down on their gift-giving.

# 4 Make a Budget and Stick to It

Medium.com suggests another great tip to prevent spending too much and ending up in debt: make a budget and stick to it.

You need to realistically think about what you can afford for each person you are buying for and don't go over your budget.

This is just a common-sense strategy that can be hard to accomplish, but according to Voya Financial, each time you think about overspending, remind yourself about the stress of paying off credit card debt.

You could also pick one friend you are incredibly close to and give them a copy of your budget. Please show them your receipts; they can help you stay honest, but you must also be honest with yourself.

# 3 Don't Charge Anything; Use Cash

In addition to considering making a budget and cutting back on the number of people you give to a third option is using cash.

If you have only a certain amount of money, use cash to make your purchases. OnPoint Community Credit Union says if you only use cash, you will lose the temptation to buy more extravagant gifts you can't afford. It's easy to think you'll pay for them later.

Those rates on credit cards and the monthly balances they keep make paying them off painful. What have you saved? You usually end up spending way more when you charge something.

# 2 It's Okay to Use What You Have and Look for Deals

How often have you pushed around a gift card you will never use? Self.com says taking that card to the store and buying something for someone on your list is okay.

They also recommend looking for any sales and deals that you can get.

Even if there is only a portion of money left on a gift card, "Maybe you can use those extra Starbucks dollars to help buy your coworker a new tumbler for their commute or put leftover Sephora money toward a luxurious lip balm for your friend who never anywhere without a stick."

Just be sure to pick something the person wants, advises writer Lyndsey Bryan-Podvin.

# 1 If You Have a Talent, Why Not a Make Present

Look, if you don't knit or do woodworking but have talented friends and family members, appreciate the gifts they have made for me.

If you want to save money, why not put some of your talents to work? Even if you are broke and don't know how to make anything, you can always create a certificate on your computer offering your siblings free babysitting.

Get creative with your skills, and you will often find that you can offer something from the heart that will last longer than a $300 gift for an electronic device they stop using after six months.

Here's a hint for food lovers: When you gift someone a homecooked meal or something like gumbo you made to put away in the freezer, it's much more personal than the gift card you might have thought of giving.