The holiday season is upon us. It’s a time of year that can be difficult for Scrooge and spendthrift alike. The temptation to shop endlessly is overwhelming. Compounding the problem is a tendency to shop emotionally, rather than with a clear-cut logical plan. Guilt often plays a role here too: Add just five or ten more dollars to a gift and you’ve compensated (or so you think) for all of those late, missed or cancelled appointments, unreturned phone calls, and a years’ worth of general neglect. The problem is, an extra five dollars, over and over again, can put you in the red come January.
Of course, the best way to avoid overspending is to prepare a budget and a gift list in advance. If you are weary of the unbridled commercialism that gets you close to financial meltdown year after year, then it’s time for a new approach altogether. For instance, it’s not too late to clear the slate and create cost-effective holiday traditions that won’t leave you in debt the rest of the year. To do so, hold a family meeting and set new ground rules. You will find that there are a number of habits and expectations you can easily modify without losing sight of what makes the season so special.
Most important, of course, is to determine your dollar limit when planning your budget and then stick to it. When it comes to gift-giving, keep your list small so that you don’t waste time buying a lot of forgettable junk. For large families especially, it’s a good idea to develop a gift list with your relatives so that you don’t have to buy something for everyone. You might also want to think about giving presents for children only. Or, have a lottery so that each of you buys a great gift for just one person. You will save both time and money in the process. |
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Learn to think outside the box, too
A great gift does not necessarily come inside a box. Do you have a special talent you can share with someone? Are you skilled with carpentry or interior design? Do you play the piano? Can you knit, sew or make a quilt? Do you know the latest painting techniques for the home? Do you have a green thumb? Are you a fabulous cook? If it’s something you love to do – and can do well – a lesson or two could be the perfect gift for a very appreciative recipient.
Consider the gift of time in other ways, too. Create coupons for services you will render, and promise to set aside needed hours for a loved one. Run errands for an elderly relative. Baby-sit for an overwhelmed friend. Wash a car. Take care of minor home repairs. There is no need to budget or set a limit here. The list of what you can do for another person ends only with your imagination. When you expand your list of possible gifts this way, you stretch your budget much further and have a lot more funin the process.
The bottom line is that you can be known as a wonderful gift-giver without incurring a huge amount of debt. But don’t wait too long. The smartest shoppers budget both their money and their time for the greatest savings. Put another way, the longer you wait, the more expensive it will be.
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Get started now with these gift ideas that are guaranteed to keep your budget on track:
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• Send E-cards with your own personal
messages. Many sites are free (Hallmark is a
good one). Better yet, no postage is
required. The cards are animated and play
music too, which makes them a fun, easy
way to keep in touch with loads of people
over the holidays.
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• "Pre-owned" items make great "vintage" or "classic" gifts. You can find many unique treasures at garage sales, consignment stores and flea markets that won’t cost you much at all. Another great resource for interesting, gently-used objects are on-line auction sites such as ebay, ubid.com, half.com, amazon and yahoo!auction.
• Let your fingers do the walking – and shopping. To stay away from the stores and within budget, order items on-line or from catalogs. Most companies allow you to pay by use of a debit card or check by phone instead of a credit card.
• Kids, especially young ones, will appreciate many a gift that does not arrive in a manufacturers’ sealed box. Garage and yard sales are terrific, tax-free sources for almost-new games, toys, books and other cool stuff that children will love.
• Give the gift of music. CD’s – new or used — fill the house or car with a joyful noise and are a great and fairly inexpensive way to say Happy Holiday.
• There’s nothing like a great read. Search through bookstores for super discounts on fiction, biographies, classics, poetry, art books, cookbooks and how-tos. Booksellers make it easy for you, because they usually display the sale items at the front of the store. To save even more money, search through the offering of gently-worn selections at online sites such as Amazon.com
• Magazine subscriptions make fun and inexpensive gifts. They also last all year! Pick up an appropriate magazine for your recipient and tear out and mail in the gift card. Then wrap the magazine and give it to him or her with a note saying “I thought you’d like to read about your favorite subject all year round – enjoy your subscription!”
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