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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:
Hb12 · 22/12/2021 22:18

I guess, for many they would look at it as a kind of reverse saving. I save £50 a month all year, I suppose some might think that £50 could.be paying off a loan taken out to pay for Christmas?

Bagelsandbrie · 22/12/2021 22:18

Being honest we do use our overdraft and some credit over Christmas, we treat it a bit like a holiday and lots of people use credit for that and pay it off throughout the year. We usually pay it off by the end of February ish. Christmas is really important to me, it’s my favourite time of year and I really enjoy spending lots and going a bit nuts. Every year I try to stick to what I’ve saved (this year had £400 saved for it) and then get carried away buying stuff nearer the big day. And food, we spend a lot on food. We can afford it though and enjoy it so I don’t think it matters.

We’ve had Christmases where we’ve been on income support after dh was made redundant and I was seriously unwell with disabilities and we literally had zero money and zero ability to spend; even on credit so now we go a bit mad Blush

DSGR · 22/12/2021 22:19

No but the people who do never comment on these threads

Bagelsandbrie · 22/12/2021 22:19

@DSGR

No but the people who do never comment on these threads
I just have GrinGrin
Tricked2003 · 22/12/2021 22:19

I only spend what I can afford to. I don't need to now, but I used to save through the year to have spending money fir Christmas.

PumpkinPie2016 · 22/12/2021 22:21

I don't, but I am in the privileged position of being able to afford not to. We don't go mad by any means but we are able to comfortably buy modest gifts for family and nice gifts for our son.

If people cannot afford to buy their children gifts, particularly if they are young and don't understand that money is tight, I can see why they may take out a loan or use a credit card.

U8976532 · 22/12/2021 22:21

No we do it the other way around, we set money aside each month throughout the year. Don't mind a bit of debt and will put some things on credit like sofas for example, but things like Christmas and holidays I do make sure we are paying for in advance.

accentdusoleil · 22/12/2021 22:22

How can you buy all year for kids? My kids don't decide what they want til November

I have put some bigger presents on a zero % Credit card as both children have their birthdays jn December. I had saved all year to prevent this but had to use the money for car issues in October

Will try again next year

Hoppinggreen · 22/12/2021 22:22

No we dontb

TerraNovaTwo · 22/12/2021 22:22

No doubt this thread will make the Daily Panic.

Bluntness100 · 22/12/2021 22:23

No, I doubt it’s thay common, we have always had Xmas within our means, whatever those are.

WasgijGods · 22/12/2021 22:23

Yes, but I put everything on credit cards and pay it off (mostly) in full every month. Credit cards offer better consumer protection than cash or debit card purchases.

NeedsCharging · 22/12/2021 22:24

When I separated from DH I spent every penny I had paying for and buying basic furniture for the new place so I had zero left for Christmas. I took out a £600 loan to pay for food gifts and decorations for 4 DC.
It nearly broke me paying it back within 6 months but I needed to so that I could start saving for that Christmas.

Boohooyouho · 22/12/2021 22:25

I do a bit of both. But then I volunteer to work boxing Day which comes with an extra payment and clears what I’ve put on the credit card. I can easily see how people can go into debt for Christmas. We’re just lucky that ours is only temporary and I have the option to work and get the extra payment.

Mypathtriedtokillme · 22/12/2021 22:25

Credit card but it’s paid off completely each month, it’s just used for convenience buying online etc.
I normally buy throughout the year and put them away for Xmas.

ImInStealthMode · 22/12/2021 22:25

No, but with no DC and small families we don't spend a great deal anyway. I don't buy anything just for the sake of buying it. Stick to modest gifts and a culture of asking/telling what is wanted or needed instead of guessing.

Fully understand how hard it would be to save for next Christmas when you've got into the cycle of still paying off the last one though.

TrickyD · 22/12/2021 22:26

I put most things on my credit card. Easier than cash and straightforward to use it online.
It is automatically paid off in full every month so never a problem.

Mouseonmychair · 22/12/2021 22:26

Nope it goes on the credit card for consumer protection but gets paid off on the due date.

NekoShiro · 22/12/2021 22:27

Yeah :) about £200 this Christmas and I'll pay it off in the next couple of months

Bootskates · 22/12/2021 22:27

I did a few years back. Borrowed £250 if I remember correctly. This year, I have slipped into my overdraft but not by too much.

dundydee · 22/12/2021 22:29

I think it's quite common but I'd wager not on MNs

Ponoka7 · 22/12/2021 22:29

It depends on what's happened during the year, many people on low pay have no cushion. My DD had to split one year with her partner in October because of DV. He had his parental rights removed and didn't give the children a second thought. Christmas and winter took all of her savings. She's done this year on part savings and part loan via the credit union. The children needed new flooring in their room and new bunk beds.
Many people are in debt because of lock down. Debt and getting into debt isn't a choice, it's the only way to give your children presents and get by.

Kshhuxnxk · 22/12/2021 22:29

No but I shop all year round (well I used to) which is no different really to using a credit card / getting a loan, buying it all in December and paying it off in the year.

JohnSmithDrive · 22/12/2021 22:31

No, never.

The year we had no money, DC got small second hand presents and I bought DH a coconut.

MichaelAndEagle · 22/12/2021 22:31

I save a bit oct to dec, then spend that and some more on credit card, gets paid off by Feb.
I could save earlier and usually intend to, but DD birthday is August plus back to school expense etc.
Works out OK for me. Its my only debt and I can afford a couple of months of repayments.