Is a Debt-Free Holiday Season Actually Possible for Me?

Hey, I thought I'd start off this new series with a great listener question.

Ralph, every holiday season, I end up swiping the credit card more than I should.

Is it even realistic to think I could actually have a debt free holiday?

What a great question.

You're probably thinking the exact same thing, Ralph.

It's November.

But guess what?

The holidays are just around the corner.

And here's some interesting statistics.

I want to thank Abby for putting these together.

Every year, Americans spend big during the holidays.

It's not just Americans.

And Abby and I were talking before the show.

She loves to give.

She loves to make people feel good.

And that's part of the giving process.

So it's not just in America.

It's all over the world.

Listen to this.

Last year, 36% of us ended up in debt just from Christmas with the average balance of over $1,181.

Here's the scary part.

42% of those balances carried interest rates of 20% or higher.

Man, you're talking about digging yourself a hole.

Which means that January's joy, that that feeling of euphoria coming off of Christmas quickly turns into the month of stress as you try to figure out, how am I going to pay those bills?

And listen to this one.

28%.

Almost a third of shoppers still hadn't paid off last year's holiday bills.

And even scarier than that, another 27% already expect to go into debt again this year.

That's a cycle, isn't it?

And half of all US Credit card holders already carry debt.

Yet listen to this.

I was astonished when I read this.

96% said they'll still spend on holiday gifts this season.

They're already in debt.

Listen to this.

The average holiday budget, I didn't have any idea what it was.

It's around $925 per person.

I tell you, people in my family, I must be getting off on the cheap because I don't spend anywhere near that.

Problem is, most of that goes on credit.

Why does it go on credit?

Because we have ads and sales and social media doesn't help us.

40% of shoppers admit they overspend because of pressure from online trends and perfect holiday expectation.

I could take a whole dive on that.

We may even do that during this series.

That perfect holiday expectation.

And here's one.

And as a parent, you might be a parent too.

You're probably thinking, Ralph, this is right on.

Nearly one in five parents say they'll cut back on their own essentials just so their Kids don't feel left out during Christmas.

Wow.

Truth is, holidays and money stress often go hand in hand.

Ads are everywhere, expectations run high and debt feels almost normal.

But is a debt free actually possible?

I'm going to answer that question on today's show.

This is Financially Confident Christian, your daily dose of gospel, grounded insight and faith driven tips to help you break the cycle of financial shame with confidence.

Welcome to the show.

I'm Ralph and I'm excited.

Today we're starting a brand new series, Holiday Survival.

Enjoying the season without going into debt.

Listen, for many families, the holiday brings pressure and not peace.

The gifts, the gatherings, the expectations.

Then comes January's credit card bill arrival.

But it doesn't have to be that way.

I want you to hear me right now.

It doesn't have to be that way.

And today we're going to start a series where we're going to walk through some simple steps to celebrate with joy and, and spend with wisdom and enter the new year debt free.

Are you ready for that?

Well, let's do it because listen, I've worked in this area for 30 years.

I've helped individuals create holiday budgets and escape that January credit card hangover.

Yeah, it's truly a hangover, man.

You get a headache when you see that, Bill.

And I've personally walked through shifting from overspending on holidays.

My kids are older now, but when they were younger, my wife and I used to run ourselves in debt.

This is what we did.

You're probably saying, ralph, we do the same thing, but I'm going to help you build some debt free celebrations rooted in peace.

And I remember one family I work with, they said to me, ralph, we always get that big January credit card bill.

They said we can't do this anymore.

And one year I work with them, we decided to set some limits before the season even began.

We did it in November and for the first time, listen to this.

This is beautiful.

They entered New Year with joy instead of financial grit.

Well, let's get to a quote from Dave Ramsey.

He said, a budget is telling your money where to go.

And instead of wondering where it went, well, that's what I want to drill in on today.

Here's my key points for today.

Debt free does not mean joy free.

A lot of people think, well, Ralph, if I'm not going to go into debt, I'm not going to be able to celebrate.

Everybody's going to be let down.

We're not going to have any gifts.

But you can still celebrate.

You can still do gifts.

You can still have memorable meals and you can build a great many memories because here's the truth.

It's all about balancing it.

Truth is, you're not going to remember what you bought somebody three or four years from now, but you'll remember that meal with them.

You remember that time shared with family.

So let's focus on that.

Not spending, not going into debt doesn't mean you relieve the joy.

It's all about planning.

That's what Dave is saying here, budgeting, planning and prioritizing it.

Because listen, as my oldest son says, without a plan, you plan to fail.

And if you don't have that plan, Abby and I were talking before the show.

I said to her, how do you make holidays work?

Because she loves to give.

She says, ralph, I plan early, I save early.

So that when the holidays roll around, the money doesn't just slip away.

That's all part of the thing here.

And you got to set some limits up front.

A lot of people don't do this.

I think you make a list, you write down everybody's name and here's what the gifts are, here's what it's going to cost.

And don't forget things.

And we'll talk about this in the series.

Don't forget about things like travel budgets and food costs.

A lot of people don't think about that.

Then they have a big house full of people over and there went to grocery budget for the month before you even step into the store.

Understand those limits, understand what you're going to do.

And at the end, it's all about peace over pressure.

The holidays can bring great joy, but they don't have to bring this burden of bills waiting in January.

I see so many people that lose out on the joy of the holidays because there's so much pressure.

And listen, I felt this myself.

I remember when my kids were real young, we were really struggling financially.

It was just the two of us.

We did two young boys and man.

We wanted our kids to have this amazing Christmas and we put ourselves into debt.

It took nearly a year to pay that off.

That was a burden.

We don't need to live in that burden.

And that leads us to our Bible verse.

Today, my favorite book of the Bible, as you know, if you've listened, is the book of Romans.

And this one comes to us from Romans 13, 8.

And it says this.

Let no debt remain outstanding except the continually debt to love one another for whoever loves others has fulfilled the law.

And think about that for a second.

How does that relate to what we're Talking about debt.

So many people drive themselves into financial ruin because.

Because they're thinking, oh, I gotta have this perfect Christmas.

I gotta buy for this one.

I gotta buy for that one.

But what's the scripture telling us?

It's all about love.

Don't let a debt remain outstanding except to continue to love one another.

During this holiday season, I want to encourage you, think about how you can love one another, how you can do for other people without running yourself into debt.

Because, listen, that's going to steal all the joy.

You don't need that stress in January, February.

Listen, what did the stats tell us?

People are still paying on credit card debt from a year ago.

Let me tell you a secret.

They're paying on debts from years ago.

It's just snowballed and grown and grown and grown.

You don't have to live like that anymore.

How about we pray together?

Father, we come to you right now as we prepare for the holiday season.

The greatest gift of all was when you sent your son, Jesus Christ to us, Lord, and we're going to celebrate that.

But Lord, help us to have wisdom to avoid the debt traps this season.

Help us to shelter ourselves and seal us away from the ads that are trying to drag us into this spiral of debt.

And help us to remember that love matters more than gifts.

As your scripture says, the debt of love is more important.

So, Lord, we just ask that you would give us peace and freedom and help us to break free of the pressure of the holidays and really focus on love and love.

For our love for Christ in this season, we ask this in confidence in the name of Jesus.

Amen.

All right, you ready for your one action step today?

I want you to write down one clear commitment for this season.

Here, I've already got it figured out for you.

Get a pen and paper or write this on your phone.

Wherever you're going to see it, write this and say, this holiday, I will celebrate love, not debt.

I'm going to say that one more time because it's so important that we embrace this.

This holiday.

This holiday right now that's starting right now.

I'm going to celebrate love, not debt.

And I'm going to encourage you, put it somewhere visible, wherever that's good for you.

Maybe it's on your fridge.

Maybe it's on a mirror, your desk or unlock on your phone screen.

Abby and I were laughing before.

We say maybe you make a tattoo of it and put a tattoo on your arm.

This holiday, I will celebrate love, not debt.

Because, listen, this can be your daily reminder that gifts fade.

Listen, gifts are going to fade.

I think about it right now.

When I look back as a kid, I don't remember any of the gifts that my family gave me.

But man, I tell you what, my mother probably went into debt to do it.

But what I do remember was her love.

That's what's important.

See, peace is worth more than presence.

And a simple decision now prevents stress later.

So let this one sentence be your anchor.

When tempted to overspend, go back to that.

I'm not going to allow this.

Let it be your guide to bring back joy, wisdom and freedom in this holiday season.

Because, friend, the holidays don't have to leave you with regret.

Choose love over debt, peace over pressure, and wisdom over worry.

Listen, today I want to encourage you.

Go out there and be a financially confident Christian.

I have confidence in you.

You can do this.

You really can break free of this and have a joyful holiday season.

Stay financially savvy.

Go.

God bless you.

And you have a great day today.