I recently read a statistic about the amount of debt the average American takes on each Christmas. It’s shocking.

In 2017 the average American took on $1,054 of debt for Christmas. That’s 5% higher than 2016 which means the average American this year will most likely rack up over $1,100 in debt.

Is that going to be you this holiday season?

Are you going to be like everyone else, rake up debt and add to your credit card balances this year, or do you want to plan ahead and do better than the average American?

Let’s do better this year.

Take the Tip Yourself Debt-Free Christmas Pledge!

What is the Debt-Free Christmas Pledge?

The Tip Yourself Debt-Free Christmas Pledge is a commitment to not add any new debt for Christmas this year. It’s a commitment to yourself that you’re going to do better this year. That you’re going to be an example to the average American that it’s possible. You can do it.

How does it work? There are 3 Steps.

It starts with a commitment. It’s a promise to yourself.

You will not go into debt this year for the holidays. You’re going to plan ahead and have a Debt-Free Christmas.

Step One: Take the Pledge

Post the image below to social media and share your Pledge. Psychology Studies have shown that publicly stating your goals has a drastic impact on your chances of success.

So if you’re serious about having a Debt-Free Christmas this year, share the Pledge Badge image below and make your commitment public.

Let’s do this. Become the person you want to be. Take control of your money.

Yes, publicly. Make the Pledge. Your public commitment will make you successful.

Step Two: Make a Christmas Spending Plan

The vast majority of holiday debt comes from unplanned expenses or impulse purchases. If you take the time to write down a spending plan specific to the holidays, you will save money and most importantly remove a ton of holiday stress from your life.

What gifts do you need to buy? Make a list.
Set a budget for your gift spending overall and make a rough budget for each person.

Starting early helps with hard to buy for friends and family members too.

Sometimes we end up spending more than we wanted because we have to make a last minute gift purchase. Giving yourself some more time can help you find the perfect gift that’s also within your budget.

Don’t forget non-gift spending.

What are your other holiday expenses?
Do you need to travel for Christmas or Thanksgiving?
Do you have any holiday parties or other events that cost money?

Make a list. Add these to your total budget.

Step Three: Make a Christmas Savings Tip Jar

Now you know what you need to save. Create a new Tip Jar with this savings goal and name it “Debt-Free Christmas”.

How many paychecks do you have between now and Christmas? Take a quick look at the calendar and add them up. If you’re reading this in September, you should have more than 5 paychecks before Christmas.

Make a commitment to yourself to save a specific amount each paycheck, and most importantly start putting small dollar amounts into your Debt-Free Christmas Jar every week.

Reward yourself with a tip each time you do something positive or each time you skip an impulse purchase. Those small amounts add up fast!

Start Saving Today.

You can do this.

You can beat the odds and rise up above the average American. You’re having a Debt-Free Christmas this year!!

A lifelong student of habits and behavior change. Mike is the CEO and co-founder of Tip Yourself, a mobile app and community focused on saving money through positivity and small shifts in habits.

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