While there is the much-talked about credit downgrade and its impacts on the mortgage market and the debt industry, the unemployment level is also making the citizens of the US wary. Though the present financial events have intentions of burning a hole in their wallets while celebrating Christmas, the debtors can’t really take the required steps as they’re too cautious about their rising personal debt ceiling. Would you love to run to a debt consolidation firm in order to bundle the debts that you incur during Christmas? Bet you won’t!

As per researches made by the National Retail Federation, the average American will spend an amount that is close to $700 in gifts, decorations and cards according to their choice. If you’re someone who is in debt, just say a big NO to gift-buying, this Christmas holiday. There’s no need to overstretch your budget and fall in a mess in the long run. Will you be surprised to know that there are ways in which you can be your own Santa and also stay within your budget while celebrating Christmas in the most memorable way possible?

1. Plan your things: Without a proper planning, you can never keep a track on where your pennies are going. As Christmas is a festival that is close to your heart, it is very obvious that you’ll feel like spending a lot but you have to remain within your budget keeping in mind your present financial state. It just takes 10 minutes to create a spending plan and thus don’t take the risk of not planning your budget during Christmas.
2. Utilize the social media: Before you start shopping for your Christmas gifts, did you check your Facebook and Twitter account? With the widespread use of the social networking websites, the retailers often offer discounts exclusively for their Twitter followers or Facebook friends. If you employ a quick search of the recent wall posts in Facebook, you may discover some money-saving codes that can be beneficial to you.
3. Use the discount gift cards: Wouldn’t it be great if you could get a gift worth $100 for $80? It is possible to purchase discount gift cards from thousands of offline and online retailers like the Home Depot, Apple Store, Radio Shack and many more. By availing such discount cards, you may get rebates up to 5%-30% off the face value of the card.
4. Bring on the envelope method, chuck off credit cards: Using your credit cards while making the Christmas purchases is a bad habit that needs to be changed if you want to be your own Santa this Christmas. Put back your credit cards and debit cards and instead allocate a lump sum amount of cash for every gift so that you don’t incur further debt.
5. Find online discount codes: Never purchase something online unless you find out the discount code. There are people who have saved hundreds of dollars and it doesn’t take even a minute to search for such discount codes online. During a checkout process, use the discount code so that you can get free shipping or even be able to save at least 20% on goods.

Sacrifice buying gifts for your own when you have lots of things to gift other people. This much you can certainly do to stay on top of your finances and also remain socially aware during Christmas. Follow the tips mentioned above to put more “green” and less red into your holiday shopping in 2011. Taking a diligent step now will help you avoid spending time knocking at the doors of professional debt consolidation companies.