calculating average christmas budget

What Is The Average Christmas Budget? When Is A Loan Needed?

When people think of Christmas, they don’t just think about the pretty lights, dazzling Christmas trees, and festive family gatherings. They also think of the financial cost that comes with it. Gifts, decorations, food, and travel don’t just pay for themselves, with many people struggling to stay within the bounds of the average Christmas budget.

Most Americans expect to pay an average of $886 on Christmas gifts alone. When you add the cost of other Christmas necessities like decorations and food, this number can jack up to nearly a thousand dollars. Christmas, for sure, can certainly break the bank and leave little room for you to face financial emergencies that strike around the holidays.

Understanding Average Christmas Budget Costs

Celebrations With A Big Family

Having a big family will play a role in how much your average Christmas budget will be. After all, if you have your own little army of toddlers, then you’ll be buying them gifts not just from you, but also from Santa. It is a double whammy many parents happily take on to see that Christmas sparkle in their children’s eyes come Christmas morning.

As priceless as that moment is, the average Christmas budget that parents expect to spend on each child is as much as $276. Just getting your children gifts can put a major dent in your wallet. There is also extended family, friends, and coworkers on the list of people you’d like to buy gifts for. At this point, staying within the average Christmas budget you set for yourself can seem impossible.

Christmas Decorations And Food

Hosting a Christmas gathering is a financial burden for the host. The average Christmas budget that people expect to pay for food and decorations is about $231. The bigger the family, the more you will spend. So, it is no surprise that a nice Christmas dinner and all the pretty decorations can have quite an impact on your average Christmas budget.

Christmas – The Most Expensive Holiday

Having an average Christmas budget helps to keep the Christmas holiday from getting out of hand. It is certainly a challenge that you are not alone in navigating. Even with a planned budget, only 64% of people stick to their budget goal.

If you find yourself exceeding your holiday budget, don’t feel too bad about it. After all, Christmas is the most expensive holiday. Not to mention that with inflation on the rise this year, you can expect it to be one of the most expensive Christmas’ you’ll have yet.

Going Into Debt – Know When A Loan Is Needed

Before this year, it was and still is common for individuals to go into debt just for gift shopping; more than a third of individuals are willing to do so! Whether it is events, dinners, or gifts, people are willing to go all out for this holiday.

Besides exceeding the average Christmas budget that they set for themselves and dipping into their emergency funds, taking on debt to spread the Christmas cheer is the next step for many. Unfortunately, this can leave little room to take on financial emergencies while simultaneously limiting your loan options when you need them.


installment loans help Christmas budget


Little Room For Financial Emergencies

It is ill-advised to take on debt for frivolous spending, even if you don’t feel Christmas gift shopping is frivolous. With Black Friday, Cyber Monday, and the massive amount of Christmas sales for individuals to take advantage of, it is better for you to take the time to set a realistic, personal budget, find the best deals, and get the most for your buck.

It takes a lot of conscious spending and saving to stay within your budget, but it is well worth it. You will much rather want to save going into debt with a credit card or taking out a loan for those unwanted, and ill-timed emergencies that can occur during the holiday season. Examples of emergencies would be:

  • Repair work your vehicle demands after a fender bender.
  • Unexpected work travel around the holidays.
  • Time-sensitive home repairs.
  • Emergency room medical bills.

Get Installment Loans When Emergency Strikes

If you find you have already spent your emergency funds on holiday shopping, or don't want your already tight budget to take a hit but need funds for an emergency, getting installment loans is an option. The process is quick and simple with us at New Mexico Title Loans, Inc., which lets you get on with handling your emergency. All you need to get through our installment loan process is:

  • Be 18 years of age or older with a driver’s license or state-issued photo ID.
  • Provide proof of income by presenting your most recent paystub.
  • A blank check from an active checking account in your name.

With New Mexico Title Loans, Inc., you can get installment loans in as little as 30 minutes after supplying the necessary paperwork – if you are approved, of course. You can get a loan amount of up to $1,250 the same day or the next business day, which you would then pay back in agreed-upon installments. Keep in mind we do check your credit prior to deciding if you qualify for approval.

Get Your Average Christmas Budget In Good Shape Today

This holiday season, it is important you get your average Christmas budget set up. Take the time to understand what your budget is made up of and how much it should be. Once you do that, you can take steps to actually enjoy your Christmas with friends and family.

And remember, don’t let your average Christmas budget get spoiled by an emergency. To find out if installment loans are for you, just fill out an online form and answer your phone when a representative calls to go over any questions you may have. Then head to the nearest car title loans near me to continue.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Emma Frost

Emma Frost is a lifestyle and finance blogger with a talent for communication and a passion for financial literacy. She uses her writing talents to explore topics that help her readers gain financial stability and growth.

New Mexico Title Loans

If you are searching for a convenient way to get a title loan, look no further than New Mexico Title Loans, Inc. We offer online title loans where not store visit is required or in-store title loans and installment loans. To get started, fill out the simple online form above or give us a call at any one of our convenient store locations.

All you need is the following items:

  • Driver’s License or State Issued I.D.
  • Lien-Free Title to Your Vehicle
  • Your Vehicle for Inspection

When you’re ready to get the emergency cash you need without all the hassles of a traditional loan, New Mexico Title Loans, Inc. has you covered with a car title loan up to $10,000 today.

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