I love to give presents! Don’t get me wrong I enjoy getting gifts, but giving them is almost twice the fun. If you spend even five minutes a day with someone, then you’re bond to know something about that person, which can help you pick smart gifts. I’ve always prided myself on being able to give amazing gifts (or at least very appropriate gifts) just by paying attention to what people like. And if ever I’ve given a bad gift, the recipients have always had the good sense not to say anything (usually because I include a gift receipt).
I never realized that the task was so daunting for some until I went Christmas shopping for the first time with my now husband. He honestly had no idea what to get his parents, sister or anyone else in his family. At one point he wanted me to spy on them while perusing the mall just to get ideas. After some spirited jesting I put forth my best James Bond and stealthily moved from party to party as we meandered our way through the nearby mall after Thanksgiving. Then, I reported which items each family member had looked longingly after and which they had paused at for a few seconds. Unbeknownst to me (and much to my dismay), the next week my adoring husband brought home one of each of the most coveted items for his family. I didn’t know what to say and because it was our first year together I really didn’t want to hurt his well-intentioned feelings. I remember thinking, is this how everyone does their Christmas shopping? How can anyone possibly afford that sort of spending every year? Everyone wants to give lavishly and shower their children in gifts, but that isn’t all Christmas is about and you still have to pay bills in January. (I remember reading some where that suicides were at their highest rate in Jan. because of this!?!) It would seem more prudent to take a more realistic approach to Christmas giving and to save for other things like college for the kids or your own retirement.
Needless to say, my husband and I worked things out. Miraculously, we were even able to stay within the Christmas budget I had organized early in the year. The experience taught me that talking about budgets and how you think of money with your spouse is very important. So, I though maybe throwing out some ideas surrounding Christmas budget might help others in their dire searches and more to the point, providing a sample Christmas budget worksheet for those of you that need help organizing money during the holidays.
1. Figure out how much you can spend on Christmas and stick to it! All good things come from planning, hard work and dedication. As they say “People never plan to fail, they simply fail to plan.” So, figure out how much extra or misc. income you have each month. Gift giving (birthdays & other events) needs to be factored into your year budget. If you don’t have a family budget, we need to talk! You should need to dip into your savings for Christmas money, instead just cut back on your spending for a month or two in order to put aside Christmas money. If you can’t seem to save any money, try keeping track of where your money is going. You may need to cut back more or think about having a gift-less Christmas with your family. Your family might appreciate not exchanging gifts and just setting aside time to spend together.
2. Who would you like to give gifts to? The first thing you should think about is if you will be required to give a certain amount to anyone or organization. No one can force you to give them money or gifts (except the bank), but you may feel obligated to reciprocate gifts to work friends or there maybe a required amount at family gift exchanges, so this should be factored into your budget first.
3. Do not go on a spending spree!! Sit down with your significant other (or whomever can help you brain storm) and decide how much you are going to spend for Christmas giving. Remember to factor in any obligations, decorations, party costs, and travel expenses. Create a rough outline for how much you can spend on each person or category you want to spend money on. Then, brainstorm good gift ideas within that budget. (Don’t be afraid to ask people what they might want or what they could find useful.) Lastly, you must to stick to the budget!! No Exceptions!!
4. Time to go shopping! Hint, if you start Christmas shopping months in advance your more likely to buy during the best deals and know exactly what will make the best gifts. Always ask for gift recites and keep them all together in one safe place. If you do start buying months in advance, don’t wrap the gifts until a few weeks before that way you can always return or exchange items if you find a better buy. I shop over the course of 3 months and compare prices every where: on-line, in stores, through clearing houses, and in my own inventory.
5. A good gift doesn’t always have to be store bought. For close friends of the family and co-workers I usually make cookies and wrap them in $0.50 tins. For my grandmother I usually give her a set of hand-made cards & a book of stamps. Many people also appreciated books on tape and music collections, so if you already have the media in your collection you can re-gift the item or make copies. (In no way do I advocate illegal copying or downloading of music…I believe if you appreciate an artist you should always support them by buying their music!) Lastly, if your job offers free merchandise or perks you can always pass those along to family as your gift. Check with your company to make sure that you are within company policy and not breaking any laws. For example, my husband receives free video games and clothing with company logos that he sometimes gives away at Christmas. In his case, the company encourages giving the items away because it’s free advertising and exposure for them.
Finally, as you buy things write down how much they cost and compare them with the budget to see how successful you were. Keep you budget at the end of the year, because it may help you decide what to budget the next year. You may also want to write down what others gave you so you remember what they are budgeting for yourself. Take a look at the sample budget below and see how even a small budget can add up to a lot of money very fast!! If you fail to plan for this type of stuff, it’s very easy to overspend and have a hard time paying bills come January. So, I encourage all to spend wisely over Christmas and keep in mind that everyone will be in happier moods if you aren’t stressing over money!! Have a very HAPPY HOLIDAY!!!
Eve’s 2008 Christmas Budget
Spouse = Nothing (Reserving $100 extra towards vacation $$)
Children = None at Present (Recommend $100 Cap)
Parents = Family Album, Ties, Skillet,
Siblings = Movies, Video Games, & Gas Cards ($35 Each)
Grandparents = Framed photos of our family & handmade cards w/stamps ($15 Each)
Pets = Bulk bag of dog bones from Sam’s Club ($9 Total)
Decorations = ($15 Total)
Extended Family Gift Exchanges = Gift Cards & Video Game ($40 Total)
Work Gifts = Hot Cocoa Packets in coffee mugs ($1.50 Each)
Friends of the Family = Homemade cookies in Tins ($10 Total)
Travel Expenses Over Holidays = $200 (Total Gas $)
Charitable Giving = ($150 Goodwill & Church Offering)
2007 Total Spent = $732
2008 Total Budget = $823
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