8 top tips for planning your Christmas expenses
Ah Rudolph, Christmas again. How it makes my heart race… twinkling fairy lights, shimmering white snowscapes, jingling sleigh bells, carolers singing, the innocence of it all. How magical, how mystical, what wonderful memories. So little time and so much to do.
Whoops, Rudolph, wait a minute! What about the hype, the commercialism, the overindulgence, the cost? You know, some kids think they can have everything on their Christmas list. What happened to the fairy tales and the three wishes? Now the wish list is endless, and sadly, some parents feel they have to live up to those expectations, Santa Claus or no.
As Santa’s sack grows year by year, so does the burden of paying for Christmas. No bag of money to overwhelm us. Our means of paying for the festivities have been reduced to a smaller and smaller piece of plastic. It’s deliberate, of course. Sliding the plastic or dialing around 16 digits makes it very easy to vastly underestimate the amount we spend during the holiday season.
Then kick off the New Year when we decide to do it differently… next year.
If this Christmas story sounds familiar, then you can change the ending to a happy one, this year, not next. Controlling holiday expenses doesn’t mean playing Scrooge. It means having a great Christmas, but an affordable one that won’t cost you until misery, worry, and stress make you work even harder next year to pay for something you’ve long since forgotten.
Follow these Santa-approved top tips:-
- know how much you have available to spend at Christmas
- Set your budget and stick to it. Calculate a separate budget for food, drink, gifts, sundries
- write a list of people to buy gifts for, then prioritize (friends and family will understand)
- tell the children that they will get some things on their list, not all of it (remember that if you spend $400 on a son or daughter, you feel obligated to spend the same on each of your children)
- set your limit for each gift. Bargain hunting is a lot of fun and you will be amazed at how creative you can be.
- pay with cash or debit card whenever possible. Giving ‘real money’ makes a difference
- Consider giving homemade gifts – play to your talents, eg baking, crafts, handyman, artistic, babysitting, seamstress, etc. People who can’t do those things truly appreciate your time, skills, and talent.
- Low-Cost Plan for Family Days or Outings: It’s a fact that meaningful memories are made from experiences, not merchandise. You can even create a new family Christmas tradition.
With the recent economic downturn, you’re not alone in tightening the strings on the holiday bag and the handmade, homemade, has had a significant renaissance. So rein in your holiday spending, ditch the plastic, and find great ways to have a memorable and affordable Happy Holidays. Right!
Giddy up Rudolph, no slacking off now!