Tips
for Holiday Spending By Jennifer L. Adams
P
lanning your approach to gift giving during the holidays, before the season really gets started, is the best way to avoid the stress and guilt that accompany overspending. Even if you find yourself swept up in holiday preparation without a plan, taking just a bit of time to think things through can go a long way toward curbing spending and avoiding spender’s remorse in the New Year. Here are our favorite ideas. First, have a plan. Make a list of the people you plan to give a gift to this year. How much do you plan to spend on these gifts? Add up the amounts and determine whether that amount of money works in your spending plan. Try really hard to not go into debt. If the amounts in your list can’t be funded within your current budget, backtrack and reconsider. It might also be the time to discuss with family and friends that you need to have a leaner year. Younger children won’t be able to suppress their desire for gifts, but adults and older kids understand that gifts shouldn’t put the giver in a precarious situation. Give the gift of time and service. In our family, we sometimes exchange gifts this way, and I think it is very useful. I will take two hours of childcare over a new purse any day of the
week. When our family was clearing land for a house, we exchanged firewood as a gift. When I was very pregnant with my daughter, our family came to our house and organized our new kitchen to just help out. House cleaning, home repair, and car washing are other ideas. Tailor the service to the person–what could she really use? Participate in a family gift exchange. This can work really well. Some families buy gifts for each member of their extended family. If this is in your spending plan, perfectly fine. For most people, it doesn’t work financially. A friend of ours with a large extended family exchanges names of the grandchildren only. So, each grandchild draws a name of another grandchild and purchases one gift, subject to a dollar limit. There’s a lot of joy in seeing young kids play with their new toys! I’m frugal and my friends know it. One year, we had a great experience for our daughter. A friend has a daughter who is several years older than ours. In November, the friend sent ten books and games that were hand-me-downs. I wrapped them right up, and they were under the tree on Christmas morning. My daughter was so excited about all these new-to-her books and games, and I didn’t spend a penny on them. continued on page 5 December 2019 | 50+ Living | 3
