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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:
DeepaBeesKit · 23/12/2021 07:36

No, but although DH and I have a relatively high income now, we arent ones for huge piles under the tree.

In other years when money has been tight we've put aside anything we can spare earlier in the year/bought 2nd hand. One year DS present was a hand me down that came from my Dsis. He loved it.

LubaLuca · 23/12/2021 07:39

No, but roll on payday which I think should be tomorrow for both of us. Today's grocery delivery will use what's left of this month's salaries, but we haven't had to dip into savings or use credit cards. We do all of our Xmas spending in December, we're no good at spreading the cost so it's been a very expensive December with all the presents plus visiting, meals out, socialising etc. It's been good though, so no regrets.

neverornow · 23/12/2021 07:39

Loans and using CC's is very common. I know quite a few people who have taken out loans over the years or whack the lot into their CC
I had to dip into savings this year and now feel really guilty about it. Savings take so long to accumulate it kills me to have to then dip into them.
We have set up a savings plan for next year (yes already!) £10 each per week, reoccurring payment into a joint acc that we don't have a debit card for.
I will be trawling Facebook market place and other preloved goods sites next year to try reduce the costs

Flakjacketon · 23/12/2021 07:40

I put a bit by each month throughout the year and buy when things seem like a bargain.
I save all my loyalty vouchers/points - Tesco, Nectar etc - all year to offset my food bill. Loose change, from all the family, goes into a jar, to be cashed in for Christmas treats.

BiscuitLover3678 · 23/12/2021 07:42

No way! Ensure everything is something we can actually afford. A loan is a crazy.
But op mumsnet is quite a middle class forum. I'm sure people with less money do this, which is sad because a loan should be a real emergency situation.

Girlintheframe · 23/12/2021 07:42

No but when the kids were young and our salaries low I used to.

Either that or use catalogues etc. Kids are all grown now and we both have healthy salaries. Very grateful that you we can afford Christmas.

BiscuitLover3678 · 23/12/2021 07:42

I tend to buy little bits throughout the year. I love finding bargains and tend to start around September. I love it!

Girlintheframe · 23/12/2021 07:42

*we

RedHot22 · 23/12/2021 07:44

No. we don’t own credit cards and have never had a loan apart from our mortgage.

Many years ago, when I was newly separated and a single parent, I did use a credit card but paid it off and over 2 months - so all sorted by Feb.

malificent7 · 23/12/2021 07:44

What if you cant afford poundland or b and m without debt?

justanothermanicmonday21 · 23/12/2021 07:44

I have this year, a mix of credit card and klarna. Mainly because I had a family bereavement in October which meant I spent a lot travelling back and forward across the country to say goodbye and then again for the funeral, flights, car hire, hotel. I couldn't really afford it and knew it would eat into my Xmas budget but I couldn't not be there and knew I would regret it if I didn't go. That meant my November pay was spent playing catch up and then my next pay isn't until Xmas eve so I brought a few small bits if I could and the rest I have spread with klarna or popped on the credit card which I will pay back with Dec and Jan pay. I was getting myself stressed at the thought of waiting to do my shopping on Xmas eve and glad I didn't leave it as youngest now has chicken pox so we're housebound as I'm a single mum!

Joystir59 · 23/12/2021 07:45

No. Christmas is, always has been, a Christmas I could easily afford.

Thisbastardcomputer · 23/12/2021 07:46

I just pay for it, no loans or credit cards. I remember hating Christmas time and being extremely short of money trying to manage extra food and presents, when I was younger and had a young family.

PandorasMailbox · 23/12/2021 07:47

I've never got into debt over Christmas despite having a limited income.

I remember a bloke turning up at the house every week with a little brown book when I was a kid (early 1970s) and my mum paying him through the nose for the loan she'd taken out in order to buy a ridiculous amount of plastic crap for Christmas. By the time she'd finished paying it off, it was Christmas again and the cycle continued.

It's totally not worth the hassle just for one day of the year.

bluebeach · 23/12/2021 07:50

We no longer buy presents for adults and the kids get a lot of eBay or charity shop presents from us with a few new bits for stockings. Food and tree and travel cost us about £400 extra. It still costs us about £500-£600 in total though but we use savings. If we didn’t have enough saved I would be more careful with the food shop and cut back where I could. I would try not to go into debt for Christmas.

Sundancerintherain · 23/12/2021 07:52

I have done both in the past.
Credit card for a couple of years , then credit union loan , then saved with the credit union to cover the cost.
When on a lower income you do what you have to do even if it's not ideal.
I'm not talking about mad extravagance either, but it all adds up. Extra money to school for Xmas dinner day, mufti day, party day.
New outfit for each child for the party day ( that will do Xmas day and beyond)
Presents, even second hand ones cost something.
Extra food because they are not in school so eating more at home.
I am incredibly lucky that my financial situation improved massively, but for most it doesn't.

RedHot22 · 23/12/2021 07:52

@malificent7

What if you cant afford poundland or b and m without debt?
Then that would be a dire situation and very sad. I would probably look at how I came to be in that situation as we live in a country where no-one should be. Getting into debt, possibly further debt? is not going to help
Shinychestnuts · 23/12/2021 07:53

@TomBradysLeftKneecap

What is all the angst about using a credit card?! I’ve bought every single Xmas present on mine and will reap the reward points for doing so.
Same here. Nothing wrong with using a cc as long as you pay it off totally every month. In fact, for certain items, it is more convenient and safer to pay by cc as you get your money back should the transaction go wrong.
Burnbookregina · 23/12/2021 07:55

I normally get bits on very on buy now pay later and have 9 months to pay it off without getting interest added so i do that for some items. Normally the bigger ones, smaller ones i buy as and when i see the, starting in about september

TellerTuesday · 23/12/2021 07:55

I don't see why it's such a big deal. I save all year for Christmas putting money away each month January-October so I have a chunk to spend & can go all out of Christmas. That's no different to paying £x off a credit card per month really is it

Sundancerintherain · 23/12/2021 08:01

@RedHot22
But many people are in this situation due to zero hour contracts, sky high rents and the shambles of a benefit system, through no fault of their own.
There is a huge amount of working poor in the UK.

Camomila · 23/12/2021 08:05

DH buys stuff with his credit card every month and pays it off the next- for the payment protection and to build a good credit rating.

We've never taken out any loans apart from our student loans.

WhatsMyNameGonnaBeNow · 23/12/2021 08:24

[quote Sundancerintherain]@RedHot22
But many people are in this situation due to zero hour contracts, sky high rents and the shambles of a benefit system, through no fault of their own.
There is a huge amount of working poor in the UK.[/quote]
Yes and they’re usually already very familiar with B&M, poundworld, various “bargain” shops so hardly need to be advised to go there to make their money stretch. God forbid anyone on a low income might decide that just sometimes, their dc deserve to get the things others have or, in the case of lots of MNers, are bought “as needed”.

We’re lucky to have a high income so don’t need to borrow or save for Christmas. I know my parents took out a Credit Union loan each year when we were small and then paid it back as slowly as necessary or as quickly as they were able, depending on eg if dad got overtime. Their take on it was that it was better to leave savings untouched for possible emergencies and worst case scenario their shares in the CU could be used to pay off the loan if that became necessary.

TheMilkyWeigh · 23/12/2021 08:26

On a credit card that gives cash back on every purchase. Then pay it off in full in January so no interest to pay.

ttcpatronisers · 23/12/2021 08:31

Yes I did this year got a buy now pay later.

For a th for DH,

Doesn't bother me it's interest free and I have some cash coming in a few months to clear it so I don't really see the issue?

I quite like taking advantage of interest free loans lol

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