Plan For a Cash-Only Holiday

Do you often pay off credit card debt long after the holidays? Spending is hard to control this time of year — cash beats credit. Here are a few tips.

BE EFFICIENT

List everyone you're shopping for, a gift idea, and a spending cap for each — a plan keeps you focused once you start.

USE CASH OR A DEBIT CARD

Paying with cash or debit keeps you accountable — you can't spend more than what's in your wallet or account.

TRY THE ENVELOPE METHOD

Withdraw your total budget in cash and split it into labeled envelopes per person or category. Once an envelope is empty, that spending is done for the season.

WATCH FOR "BUY NOW, PAY LATER"

These installment plans can feel like cash but are still debt. Skip them to keep your holiday spending truly credit-free.

AVOID THE MALL

Bright displays and sales tempt you to buy items off your list. Instead, order specific gifts online with your debit card to skip the impulse-buy triggers of in-person shopping.