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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To ask do you put Christmas on a credit card or use a loan?honestly??

291 replies

jalepenopopper · 22/12/2021 22:05

Just that really, having a discussion with my dh after watching a programme where the family take out a loan each Christmas and pay it off all year. He thought it was crazy, I said it's more common than he thinks! I think more people do than they admit. So...do you?

OP posts:
AutumnAnn · 23/12/2021 08:35

No, if we can't afford something, we simply won't buy it, luckily we're comfortable, we both work but work around each other so no childcare costs needed and 1 income is essentially all savings or disposable income, we budget and plan very well for everything, never had to use a load or credit card, don't even have one. Christmas shouldn't be about getting yourself in debt, I'd much rather someone gift me their company on Christmas day than something they can't afford.

Cofifeefee · 23/12/2021 08:38

Is paying back a loan much different from saving all year? Depending on the interest rate of course. Some people find it difficult to save but will absolutely ensure they don't default on a loan.

nellly · 23/12/2021 08:42

No but I set money aside all year in a separate account, I'm not sure it's totally different, I'm still paying monthly but I'm a year ahead and they're a year behind I guess? No judgement here on needing to spread the cost

rainydogday · 23/12/2021 08:42

Money comes out each month by Direct debit into a Christmas saving account, just like we do for holidays. If there is something that is too expensive then we both work a bit of over time to pay for it.

MichaelAndEagle · 23/12/2021 08:44

I think it also matters what kind of credit people are using, which also relates to their income.
Luckily I haven't always been in the situation I'm now in, so I have access to decent credit i.e. interest free credit cards etc.
I'm not using payday loans etc.
At the end of the day I want my children to have a nice Christmas. I'm hosting my parents for the day, so have got in nice food. Its not overboard at all and my debt is repaid by Feb so I really really don't see why I wouldn't.
I have a reliable NHS income though, not unreliable work so I am fairly reassured that my finances are going to be regular which helps.

Emerald5hamrock · 23/12/2021 08:44

Its okay using a credit card if you can afford to clear it from your bank balance the next month or if it is over cost over the year.
The problem is when you can't pay it or when you are applying for loans with huge interest rates, door stop loans.
I donated two decent presents this year.

crochetmylifeaway · 23/12/2021 08:49

I've tried all sorts of ways from putting money aside each week (ends up being used for emergencies) to park savings club (limited to where I could use them and ended up being more expensive overall) to credit cards.

This year I started buying in September. Just a couple things here and there. I used the likes of Klarna and Clearpay to help spread the cost of some of the bigger items and it's been amazing. I have Christmas paid in full already with no worry about any bills coming in the new year or being left short at any time.

People do what they think they need to do. We have cut back loads on presents. Along with being sensible and planning, this is the most relaxed Xmas I have ever had I think.

drawhander · 23/12/2021 09:05

I think it's really sad that people
Get into debt for xmas. Christmas used to he a day to celebrate with nice food and a few gifts but these days it's a whole season and people get into debt for it

Pressure of society

AlwaysLatte · 23/12/2021 09:18

No, I never buy anything on credit.

notacooldad · 23/12/2021 09:24

No, I never buy anything on credit
Blimey, I do, for better consumer protection. I pay it off by doing a bank transfer but theres nothing wrong with using credit for your own benefit.

GenderCriticalTrumpets · 23/12/2021 09:25

This is the first year we haven't done and I am proud of us for getting out of a hole.

AlwaysLatte · 23/12/2021 09:26

Blimey, I do, for better consumer protection.
Actually you've reminded me I do pay for holidays on credit for that reason, but that sort of doesn't count as I pay it off at the same time.

Roundeartheratchriatmas · 23/12/2021 09:27

There’s a difference between buying on credit for better protection or because you know extra money is incoming and you’ll be able to pay it off and knowing you have no additional money coming in and may struggle to pay it off and possibly get into even more debt by failing to do so.

Twinkleylight · 23/12/2021 09:27

I pay a set amount each month to cover celebrations and holidays and have avoided credit so far. His year I managed to save £200 pcm but other years its been less.

mildtomoderate · 23/12/2021 09:28

Absolutely not, I wouldn't be able to annoy it if it was debt.

We've had some very frugal Christmases in the past.

mildtomoderate · 23/12/2021 09:28

*enjoy it. Grin

IncompleteSenten · 23/12/2021 09:29

I used to use catalogues. Just about paid them off when it was time to order again.

notacooldad · 23/12/2021 09:33

There’s a difference between buying on credit for better protection or because you know extra money is incoming and you’ll be able to pay it off and knowing you have no additional money coming in and may struggle to pay it off and possibly get into even more debt by failing to do so
Of course there is, but there was a blanket statement of "I never buy anything in credit" whichbwas untrue andcalsi making it sound like credit is the tool of the devil when in fact credit is just a financial tool to be used and managed sensibly and can act in your best interest.

Snaketime · 23/12/2021 09:35

I save with Park throughout the year and then get 2 love2shop cards in November to spend for Christmas.

KurtWildesChristmasNamechange · 23/12/2021 09:36

Never had a credit card, so no. If I can't afford something then we don't get it.

AllThingsServeTheBeam · 23/12/2021 09:39

I got the kids a Nintendo Switch each in September on the Argos card. They've been paid off now though. And I was going to get dp a ps5 on the Argos card if they got them in which they never did. But I never pay interest and it's always paid off by Christmas or just after

babouchette · 23/12/2021 09:40

I've never specifically taken out a loan for Christmas but I spent all of my twenties in debt and certainly my Christmas shopping would have been on credit cards for a few years.

I'm not proud of it but I'm also not ashamed. People just want to have a nice Christmas, particularly if their lives are tough in other ways, and that is completely understandable. I am proud of having got out of debt and now having savings in the bank. I still spend a lot at Christmas though!

Lulu1919 · 23/12/2021 09:40

Cash only

lollipoprainbow · 23/12/2021 09:45

No, if we can't afford something, we simply won't buy it, luckily we're comfortable, we both work but work around each other so no childcare costs needed and 1 income is essentially all savings or disposable income, we budget and plan very well for everything, never had to use a load or credit card, don't even have one. Christmas shouldn't be about getting yourself in debt, I'd much rather someone gift me their company on Christmas day than something they can't afford.

My aren't you smug !!

Youdoyoutoday · 23/12/2021 09:46

My first Xmas as a single mum was a tad overwhelming financially, I could afford it but it was a shock so after that 1st one, I used to put a tenner in a pot for Xmas each week and at the beginning of December put it in my bank account to pay for Xmas and anything left over helped with the long pay gap in Dec/Jan.
When I got with my DP I still carried that on but I don't do it anymore as I'm in a better financial situation now.

I've been in debt before and would never put myself in that situation again for anything.