The rituals of gifting during the holidays go back deep in history. Everyone feels an obligation to give something to someone, so if the topic comes up this year, consider asking for a contribution towards paying down outstanding debt. Such a gift will hands-down beat a moose sweater, candy cane socks, or yet another indiscernible contribution towards the tie collection.
Here’s three options on how to ask for the debt contribution:
1. “Though any present would be thoughtful during these tight times, I really need to focus on paying down some of my current financial obligations, so if you are thinking of giving me something, please make it a contribution towards my debt elimination fund. It doesn’t matter how small or large your donation is – it would be highly appreciated.”
2. “The economy has made things really tight right now, so the best gift I could receive would be a monetary contribution towards my personal debt relief fund. Thank you for all of the support – financial and otherwise. Here’s to a debt-free 2009!”
3. “The holidays are all about coming together and supporting one another – and celebrating relationships in the process. I’ve made a major decision in my life to quickly eliminate all of my existing financial obligations as soon as possible, and so I ask that you consider giving me a monetary contribution towards helping me get out of debt instead of a traditional present. The joys of becoming debt-free and leading such a lifestyle will greatly outweigh the fun of a new sweater or music album, and will ultimately make my relationships that matter – those of friends and family – much stronger.”
Here’s three avenues for asking for the contribution:
1. Email to friends and family. Write and send an email to friends and family providing an update on your life and best wishes for a great holiday season. Then conclude with your new suggested present of a contribution.
2. Insert into holiday cards. If you have a habit of sending out cards to friends and family, include a short personal note that asks that all gifts this year instead be contributions towards getting out of debt.
3. Mention during a phone call. Work into your conversation during a phone call to friends and family your desire for a contribution towards eliminating your personal debt instead of traditional gifts. This can be highly effective given the solemnity that you can display while asking. Mention that normal presents are always appreciated, but that the current economic conditions make personal financial health jump to the top of your wish list.
Raj Patel writes for DebtGoal.com, a do-it-yourself system for getting out of debt and lowering your interest costs. DebtGoal.com incorporates all of the techniques discussed in this post and can help users understand and get visibility to and manage their debt finances.
