January is the perfect time to start planning for next Christmas, to avoid debt, reduce financial stress and still show your love! CentsAble Bobbi shares 5 ways to pay cash for Christmas, plus 5 alternatives to buying gifts.

1. Start saving in January

Create a Christmas budget and divide the total by 12. This gives you the monthly amount you need to save, to reach your goal by Christmas! But can you do it? Do the math to find out! If not, you’ll need to adjust your budget or pick up some extra work.

2. Use your Christmas bonus

If it’s not enough, figure out how much more you need to save, divide that number by 12, put it in your budget and start saving!

3. Create a “gift money” category

Add the category to your monthly household budget and buy throughout the year, when you see the perfect gift on sale!

4. Use your tax refund

If you get a big enough tax refund, use it to fund your whole Christmas budget in one shot! This way, you can quit thinking about it and wait for Christmas with no stress. Or buy throughout the year, before the stores get crazy!

5. Get a part-time job or pick-up a few extra hours at your current job

Just make sure to put the money you earn in your Christmas budget right away!

Alternatives To Buying Gifts

The best gifts aren’t always the most expensive! Consider these 5 alternatives:

1. Buynothingproject.org

This is a community of people who give and receive free stuff.

2. Get creative!

Create personalized gifts for everyone on your list. It could be a time capsule, custom cookbook or personalized trivia game! RealSimple.com has a ton of great ideas!

3. Give your time!

Be a pet, house or babysitter! Clean someone’s house! Spend time with someone who’s lonely.

4. Give something of yours they love!

It could be an article of clothing, a painting, a book, anything of yours that someone has expressed interest in.

5. Agree not to exchange gifts

Would anyone who truly cares about you want you to go into debt to buy them a gift? Debt freedom is the best gift of all!