It is Christmas, the season for giving but don’t let your giving heart take you into a deeper financial hole than you can dig yourself out of. Managing credit card purchases may be one of the best gifts you can give yourself to begin the New Year off right. Here are a couple of other ideas for gifts to give to yourself for the holidays.

1. Take twenty five dollars, fifty dollars, or what ever you can afford and begin a new savings account. Call it your freedom account as it is called by Dave Ramsey, call it your emergency fund, call it tootsie… it doesn’t matter what you call it. It matters that you have made the first move towards financial freedom by opening this account. Do it for yourself.

2. Take your smallest debt and divide the amount by 12. This would be the approximate payment you would need to make to pay this off in 12 months. Is it an amount that could be paid off in 6 months, or maybe even 3 months? Make this your gift to yourself… a pledge to pay this small debt off.

3. Cut up your credit cards. Your heard me, that is the best gift you can give yourself. If you are afraid to make such a drastic move then consider freezing your card in a bowl of ice. You will need to thaw it before you can use it which gives you time to think about the purchase you want to make. Start the New Year off right by not charging purchases. It is a wonderful gift to give yourself with long lasting rewards.

These are the best three gifts you can give yourself as 2011 comes to a close. Stop using credit cards, open a savings account, and pledge to pay the smallest debt off ASAP. You will feel such freedom by just these three small gifts. It will indeed lead to a Happy New Year.