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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:
Wrongkindofovercoat · 22/12/2021 22:50

I usually end up sticking a lot of it on credit cards and store cards.

For those who save up over the year, how much do you put away each month ? How much does Christmas cost you ? so total for all presents for everyone and food etc ? I am thinking of doing this for next year.

Original poster
jalepenopopper · 22/12/2021 22:51

@JingleBellez we save 50 a month and then my dh gets a 150 food voucher from his employer that we use for our food shopping...we're hardly rolling in it!! @Ponoka7 I am very aware of that...I was simply asking as I was making my dh aware that we are lucky and it's more normal than he thinks.

OP posts:
sofakingcool · 22/12/2021 22:51

No

We are lucky in that DH gets a bonus early in the year which we put away into a specific saving account for that years birthday/Christmas presents for the children. The main reason we do it is because both have Nov/Dec birthdays and it would cost us a fortune to find all the money in one go.

There is no way DH would have a loan or a CC without repaying straight away, and I've been there before and it isn't much fun. I do appreciate we are lucky though and in some instances there's no way it can be avoided

slaybell · 22/12/2021 22:52

Usually yes (never with interest though, just bounce about various interest free credit card offers).

This year I ploughed the overtime in October/November so managed to do this Christmas debt free which feels great!

FawnFrenchieMum · 22/12/2021 22:52

This is the first year I can honestly say no. In the past we’ve used a mixture of credit cards, buy now pay later catalogues, next accounts etc to spread the costs of some of the bigger items.
We paid the car off earlier this year though which means we are now able to put money away each month and pay off some old debts.

Couchpotato3 · 22/12/2021 22:53

I put Christmas on a couple of credit cards most years, but they are paid off in a couple of months. I'm too disorganised to budget in advance. I wouldn't judge other people for how they choose to finance their Christmas. Its been a shitty few years for most people, so whatever gets you through....

VestaTilley · 22/12/2021 22:53

No. I’m very debt averse.

We pay for it by starting to buy in Sept/Oct and only spending what we can afford.

GoodbyePorpoiseSpit · 22/12/2021 22:54

Nope. In the overdraft this month though...

Wrongkindofovercoat · 22/12/2021 22:54

Its difficult, DS has just informed me that his friend was getting a gaming computer at well over 1k, I was hoping a few bits and a hundred pounds in an envelope would do as we are spectacularly skint this year. Now feel like a terrible parent Sad

FawnFrenchieMum · 22/12/2021 22:55

@Wrongkindofovercoat

I usually end up sticking a lot of it on credit cards and store cards.

For those who save up over the year, how much do you put away each month ? How much does Christmas cost you ? so total for all presents for everyone and food etc ? I am thinking of doing this for next year.

We budgeted £800 this year and went over it by about £100 but honestly it varies each year. If one needed a new games console then the total would be a lot more that year or last year DS wanted a new phone so as we took that on contract, no upfront cost for a high value gift (but obviously left with a money cost)
EveningOverRooftops · 22/12/2021 22:56

No. But I don’t do expensive gifts either. If I can’t afford it it won’t be bought.

momiamarichman · 22/12/2021 22:57

I used my credit card this month/end of nov but plan to pay it off in full when I get paid this month. Only spent £200 total on Christmas Christmas presents and got some lovely bits for my family so I'm pleased! Smile

I wouldn't take a loan out personally unless it has very good rates. Also not a fan of people spending more than they can afford and also accruing extra interest payments! Just be reasonable people! Christmas doesn't have to be £££. Xmas Shock

tiredandgrumps · 22/12/2021 22:57

No, we save throughout the year for Christmas and birthdays. If we don't have the money for it it doesn't get bought. Gifting isn't worth getting yourself into debt over I don't think.

momiamarichman · 22/12/2021 22:58

Forgot to add- for reference I am a twenty two year old student, no dependents. Just my partner, dog and I at home. Grin

beenthereboughtthetshirt · 22/12/2021 22:58

52 weeks of the year i live using my credit card, no different here.

NellieBertram · 22/12/2021 22:58

Used to, tend not to need to anymore.

It's no different to paying off a car or sofa on finance though, is it? I do that too.

CentrifugalBumblePuppy · 22/12/2021 22:58

I use my credit card, but everything is paid back before the next statement period (partly payment protection, but mostly Amazon reward points). The credit card balance never exceeds my savings, so if I suddenly was unwell or lost my job, it could be cleared in full as a priority debt.

thehillswerebright · 22/12/2021 23:00

I get paid weekly and have a credit union savings account that takes money each week from my wages that's earmarked mainly for Christmas. Usually my husband uses his credit card to put the main things on and then I give a portion of the credit union savings and he pays his bit off when he gets paid in January. I have friends who use the Christmas savings with studio type places. Other friends who use their credit cards and some who are well off enough just to pay it from their months wages.

Lesina · 22/12/2021 23:00

No. I buy from Sept onwards and limit who I buy for. I don’t do the whole every member of the family must have a present :)

SockQueen · 22/12/2021 23:01

I use my credit card because of the benefits it comes with (Avios, consumer protection) but I pay it off in full every month. Never go into proper debt for Christmas - but I'm lucky in that I have a well-paid job and only a relatively small number of people to buy for, so budgeting is easy.

IAmMeThisIsI · 22/12/2021 23:01

Some people have to get out loans or use credit cards. That's because their financially struggling. Let's not judge people for trying to give their family a nice Christmas. This whole thread sounds judgmental.

Rosebean92liveson · 22/12/2021 23:03

What was the programme?

AuntyBumBum · 22/12/2021 23:04

@phishy

This thread is a big smug. ‘Shock, horror, look at what the plebs have to do for Christmas’.

Why don’t you tell us what you do, OP?

Taking out debt is not for plebs. It's very expensive, plebs cannot afford it or won't pass the credit check.
maryzx · 22/12/2021 23:04

No. It's Christmas, not a house purchase.

Cocopogo · 22/12/2021 23:05

No, I only buy what I can afford