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132 Days and Counting


While the weather is currently under control of Heat Miser and not Jack Frost (I may have just dated myself), Christmas will be here before we know it. “But I JUST got the kids back in school,” you say? Yes, you did, and some you may not have kids back in school for another week or more!  If you read and followed my blog post from last week, you probably saved some cash while doing that. Congratulations! That is awesome! It’s now time to plan for the next big event that, if met unprepared, can cause financial stress.

Did you know somewhere around 20 percent of the population is STILL paying for last year’s Christmas? Christmas comes at the same time every year–it does not sneak up on any of us. It is time to break the unpreparedness cycle.

While there are only four months until the blessed/dreaded day, there are some things you can do now to avoid falling into the “financing Christmas” trap. I would suggest taking a look at your past mistakes, starting with last year. What did you spend total? Where did you overspend? How much of it was last-minute impulse buys? Write these all down so you can track where you were.

Next, make a list of everyone you must buy an actual gift for. It’s a good idea to keep this to immediate family–children, spouse, maybe parents–especially when you are trying to work your way out of debt and into financial stability. If your extended family is big into gift-giving, suggest setting up a gift exchange where you draw names. I can almost guarantee you that there will be another family member who is grateful you have made that suggestion.

Set a budget for each person on the list. Again, if you are working your way to financial stability, I suggest that an amount set for a spouse or another adult need not be as much as that for a child. Make a list of gifts for each person on your list. This will help reduce impulse buys. A good gift-giving strategy for children is this: something they want, something they need, something to wear and something to read. Start looking for items on sale now–back-to-school time has some great deals.

If you have kids that are a little older, consider doing a service project as a family. This can help children learn gratitude for what they have as well as the real reason for the season.

Make homemade baked goods or cards for neighbors. Create handmade or computer-generated service-oriented coupons for extended family. Create a book of coupons for grandparents that offer free lawn-cutting in the spring or free babysitting coupons for aunts and uncles. Get creative and involve the entire family.

When it comes time to wrap those gifts, see how artistic you can get. Get a newspaper end roll and have children help decorate the gifts with craft items you have at home.  Do you have wrapping supplies left from last year? There are also discount/dollar stores that have less expensive wrapping paper–most of it just ends up getting recycled anyway.

Christmas doesn’t need to be financially extravagant. Parents need to remember that they are setting an example for their children. Decide to be happier with less. Choose to serve others instead of worrying about what you want this year. This will help set you up for financial success that will surely come because karma helps those who help themselves.

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