Overwhelming cost of Christmas discourages some

Christmas is supposed to be a joyful time, but for some people, the holiday brings more stress than good cheer. In a recent survey by financial services provider Think Finance, 45 percent of respondents said that the holiday is so financially taxing they wish they could just skip it.

As a reformed holiday overspender, I can understand their stress. The spending is a blast; the credit card debt is not. Throughout my 20s, I didn’t know the word "budget" when it came to the holidays. I always splurged on big gifts for my hubby, and I went overboard on the food and wine at every party we hosted.

Now that I’m older, I’m smarter (and more realistic) about what I can spend during the holidays. My husband and I will exchange gifts, but they will be in the $25 range. We’ve learned to put an emphasis on meaningful instead of expensive. We’ll buy thoughtful gifts for our families, but we’ll stick to a budget. And we’ll spoil our nieces and nephews a little bit, but we’ll try not to overdo it.

Even though I’m a more responsible holiday spender now, I don’t regret my splurge phase. It was temporary, and I learned some important lessons about why budgeting is important.

What’s your holiday spending style? Are you budget-conscious, or do you tend to splurge now and pay back later?

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Money-Saving Tips for Two

Photo: Thinkstock