How long does it take to pay off your credit cards after Christmas?

[exitseven]

When my kids were little and we lived on one income I would schedule a sales call near where Toys R Us was and meet my wife there afterwards. We would go through the store and fill up at least two shopping carts and blow through the register putting it all on credit cards. We would usually get them paid off by Thanksgiving just in time to do it all over again. Looking back it was nuts but we did it anyway.

Updates

11 mo

Boy, what a bunch of killjoys. Americans are expected to go out at Christmas and overspend on presents. Running up your credit cards and getting into debt is everybody's responsibility. Most storekeepers make 90% of their income in the weeks between Thanksgiving and New Years.
Being responsible with money is so old fashioned.

Updates

11 mo

Only kidding fellow Gaggers. I am really proud of the whole bunch of you. Very impressive.

[Screenwriter]

I've never heard of the description you cite as your holiday charge strategy. Sounds disturbing! I'm no financial genius, but the only time I overspend on credit is when I'm between jobs and have little to no income.

Doing it during the holidays makes them miserable for me. My son is grown, but I love giving him something for Christmas and this year I found an old robe I'd never used that had tasseled ties and a Chinese smoking jacket style to it. I pulled out a zip up sweatshirt I was going to give away and an old shirt I thought he might like and gave them to him. He loved all three at no cost to me! Also have PJs I'm sewing for him.

I sent out Christmas cards to folks else at little cost to me as I had leftovers from last year that I sent more to new people on my list.

I bought myself a massage for $130, a vase for $23, manicure and pedicure for $75. My job paid for those expenditures. Oh the cards and stamps: $50. So, few tax-deductible donations in small amounts, about $60. I did put two sets of sheets and two rugs for my bathroom on my Macy's card. $155.

Otherwise, I'm paying DOWN credit card debt. That makes my holidays wonderful. Everyone loves getting my cards and my priority is taking care of myself. Then I can volunteer, work for pay, and do good elsewhere, which I do all year long.

[exitseven]

I was, not making much money and my wife and I wanted to give our kids a good Christnas. I know it was nuts

[Screenwriter]

Yes indeedy it was. But you survived it!.. Kisses to you and yours.

[exitseven]

thank you 😊😊😊

[midnightmoon05]

You joking right?
You are educated and have a finically/tax background …

I was clueless with money in my 20s … my older sister took all the math genes… she is the finance/tax person… have no idea how to teach me anything …

I always knew to always pay off or only buy what I can afford.

I would never spend that kind of money to buy Chinese cheap toys.

[lightbulb27]

Ditto, whatever I charge, I pay off. the interest rate too high.
I've not had several kids though and those pressures.

[exitseven]

Back in those days I had not finished college and was working a dead end sales job. We were really prime examples of the working poor. Still we did not want to deprive our kids of a nice Christmas. Looking back I am still a little amazed at it all but we did it because we wanted the best for our kids.

[Summeroflove]

Live within your means. Your love for your children shouldn’t be financial and if you put yourself into debt where it’s hard to keep the lights on, food on the table, etc. You’re doing your kiddos zero favors.

Credit cards build credit. As long as you’re paying the cards off. Not getting yourself into unmanageable debt that lowers credit and suck’s your money dry.

Another idea is…. Do Christmas and birthday among other special event shopping all year long. Collect things as you have the money to do so. That’s a tactic that works well for many people instead of blowing all your money in the few weeks or months before Christmas.

If you’re able to find deals either in store or online. Throughout the year this is extremely helpful. As well as having time to SAVE up money to buy things.

[AviatorTom]

I almost always pay off the full balance at the end of each month. Occasionally, I go overboard for Christmas and it takes me 2 months to pay off the credit cards. But that hasn't happened in the past 5 years.

[NicholasRedone]

No debit or cash savings? Man I try to avoid debt the way people avoid condoms (sigh, I love condoms) lol 😆

[Dinklex3]

@NicholasRedone Credit cards are great as long as you pay them off. Some offer great rewards. All the negative talk about credit cards scared me as well until I actually looked at the benefits.

[NicholasRedone]

@Dinklex3 spoken like a true oddball, I love my own money more - I don't wanna have to decipher how credit cards work - so I stay ignorant 😅🫣😅🫣

[NicholasRedone]

Referring to myself as the oddball 😋

[TrueConfection]

I keep only one credit card for emergency or hotel/car rental. I pay it of immediately .

With that being said, I borrowed from my own budget and I'm feeling it now. It will probably take me a month or two to get caught up again.

[Finchie40]

No days cuz I only use cash I save for a Christmas 😋 I never used credit on Christmas and hope I never have to

[Dinklex3]

Paid it off 27 December, so by the end of the month lol. I only bought stuff for my sister, nieces, & nephew with my card and gave my other niece and nephew cash

[Apple1996]

I extreme coupon my kids toys so I never spend enough to use a credit card

[Apple1996]

Lol to the update. I'm just cheap and hate tons of toys around my house

[OlderAndWiser]

I almost never use credit cards. I use s debit card and if i don’t have the cash on hand, i don’t but it. I never worry about getting out of debt.

[Massageman]

One month. We pay in full every month. or pay cash using the Bohemian easy-payment plan - 100% percent down, no monthly payment.

[Purpleronnie]

Christmas is certainly not the time , although so many do , to put yourself into debt !!. Spending money on presents for children perpetuating the Santa clause lie is a choice !! Even though many parents would argue otherwise…make no mistake! , and only if you have the resources to do it.
I was raised by parents with no money and not that I felt it at the time but we were in poverty with many of our basic needs going unmet from month to month throughout the year. My parents strived to do their best “mostly” and although there were some small presents at Christmas as soon as I was old enough to understand that they were there because my parents went without meals and clothes I happily and selflessly told them to instead buy the gifts for my younger siblings.
I have NEVER put myself into debt to buy gifts for anyone and NEVER would or should be expected to.

[midnightmoon05]

You turned out well.

[Purpleronnie]

Thank you for saying that, I trust your being sincere. , To claim I had a challenging childhood and upbringing is being polite. Much easier than most though I’m sure. What our family didn’t have in finances was made up for in love and support , but the tough , preparatory , and teaching kind rather than that of most with families with smothering affection being wrapped in cotton wool. Sometimes I feel parents don’t prepare their children as much as they could by trying so hard to insulate them from the world protecting their innocence as a child as if it’s some right of passage but there is a balance and certainly didn’t hurt me to learn sacrifice and the harsh cruelty of people early on. They mean well in their intent , trying to give where their parents couldn’t or didn’t but that’s not love that’s trying to replace was was missing in your past and can actually be damaging or at the very least a confusing contradiction for a child to receive for only Christmas especially when a fictional character gets all the credit.

[midnightmoon05]

Very true.
Our society (the US) emphasizes too much on materialistic (giving the heat to their children) over teaching children early on to make sacrifices to earn their basic needs.
Those who have gone through true struggles values their hard earn money at the same time understanding nothing comes easy.

You said it better.
Cheers.

[Purpleronnie]

Yup , it’s at least the whole western world. Thanks for the like , your comments and time ☺️

[AnonAndrew]

I never use credit for Christmas. If I don't have enough money to buy something I want to buy, then I don't buy it. It's almost never worth buying anything on credit, unless it's a house, or something you really need (like a car to get to work).

[idonotlikeyou]

Christmas hasn’t changed anything for me in this matter. I’m still in a situation where I have to choose between buying soap and bread. My credit card remains untouched, and that’s how it’s going to stay. Sooner or later, this messed-up situation will be resolved.

[jamesgoldman]

I don't have credit cards

I got one in 2019 (and another in 2020) to buy this necklace as it was a great deal, bought a phone because I broke mine and other than that it was just bundles of profitable gold and silver, only interest I paid was £6 when I drew £20 out to shop with my antique dealer but I made £50 from that and still have the 14kt bits from the fountain pen and that's worth about the same

[Wiredone]

I only buy what I have money for. I don't put Christmas presents on credit cards. If I don't have the cash, I use debit. This year everyone got gift cards

[NicholasRedone]

Same here wiredone

[Wiredone]

@exitseven you spent all that money on Christmas but I didn't get a gift. Lol

[NicholasRedone]

@Wiredone 🎁

[LadyBecks]

I didn't use my credit card this Christmas. I did start Christmas shopping early which helped make that possible.

[katiesmuff]

It doesn't as we pay the card off as soon as the bill arrives.

[Lynx122]

I only have a prepaid credit card for things you need it for like some online purchases or hotels etc.

[Anonymous]

i don't use credit cards unless i have the money to pay it off in like 1 minute. i only use them to build my credit.

[FunkyMonkee]

No time at all. I don't have a credit card. Been there, done that, got me into trouble!!

[bolverk]

I NEVER use credit cards to pay for Christmas, everything bought was done so ahead of time and spread out over months.

[molonski2]

Seeing as I dont buy Christmas gifts , nor do I run up high interest debt , the card ( not cards ) are paid in full every month , so interest is zero , I owe absolutely nothing at all.

[andreasderjuengere]

I refuse credit cards or even debit cards.
This way I am free from debts.
If I can't afford something, then I' ll simply not have it. re-state//background_color_rgba (0, 0, 0, 0), font_color_rgb (77, 77, 77), justifyLeft

[DrPepper12]

Within 30 days. Zero balance & all of the protection...

[LiamJHayden]

I pay off all credit multiple times per month.

[LiamJHayden]

except for the mortgage on the rental units

[Fireguy17]

as soon as the bill comes in it is paid.
If I do not have the money I do not buy it.
SO that on sale item will end up being really expensive at 24% or even higher interest rate.

[Cassandra2003]

A month I start shopping in August so it’s not on 1 bill.

[QuietRunner]

30 days

I pay in full each month and don't spend over what I can afford

[douride2]

I pay my only card off every month when the bill comes. As for Christmas I'm not going into the hole for gifts I can't afford.

[NicholasRedone]

I only spend what I have - I use debit not credit

[NathanDavis]

debit

[jahaims]

I have always lived within my means.

[Dargil]

I used current funds.