Well, it’s that time of year again! Oh, sure it’s festive and it’s time off from work, and hopefully it’s time spent with family and friends! BUT it’s also a time of year when most of us go WAY over our typical monthly spending! What’s the answer here? For starters. We need to start with a total dollar amount that we think we can realistically handle. Really think about this….
According to a poll done by LendEDU, the average person will spend $997.00 on Christmas this year between gifts, food and decorations. And according to NERD Wallet 74% of people will use credit cards to pay for those gifts. Nerd Wallet also tells us 52% of people last year incurred credit card debt due to holiday shopping and 1/3 of them are STILL paying it off. Let’s not be one of those people this year!
This is so easy to do, right? We have all been there probably more than once. Maybe this year we REALLY do set a dollar amount on the spending. Hey maybe our challenge is to spend LESS than the Average person ($997) this year! Ya that does not mean we spend $996, 😊
So, what’s the game plan? Let’s really look at “THE LIST” Most of us can cut the list back, or spend less. It’s also OK to tell people early in the season, like now… That you are cutting back and paying off some bills or trying to save more. You may be surprised at how other people might want to do the same thing and are grateful you said it first!
One thing that may help these days are those office Christmas Secret Santa Gifts! That feels like something that did NOT come back after the pandemic, Thank God! It was not the money as much as the stress of WHAT to get that EVERYONE would like! Maybe we get thoughtful, yet personal gifts that do not need to cost much. After all it’s the thought… that’s what they say anyway.
The one thing I DON’T want is a huge credit card bill! This year I am going make most of the purchases with CASH. I will decide on a dollar amount that I can handle with CASH, and then I MUST stay in that Budget. There will be some things I need a credit card for like online purchases. BUT I will also SET a limit on that amount as well.
Another “thing” I personally will also focus on… NOT buying things for myself while I am supposed to be buying for others! Come on you do it too! You see a great deal on boots, and it’s like, I NEED these, and they are on SALE! Merry Christmas to me! Ok none of that this year. 😊
They say “experiences” are remembered more than “Items”. Ex: Maybe you plan a day with your best friend or family member with something you found on Eventbrite vs buying a gift.
Maybe you take all the nieces and nephews out for a day trip together to the movies and make your own pizzas back at the house for a gift to your sibling and a day for the kids to remember the time together.
Look on Group On for your City, or Eventbrite or your town’s community calendar. Some museums are FREE on certain days, Some Zoos are FREE or Historical tours. There are many things to do that are low cost or FREE, like sledding or skating. GIVE people your time vs an expensive gift they may not even remember next year.
This year let’s challenge ourselves to be more mindful of what we buy vs buying it to get something/someone off the list. Put some thought into how much we are spending and what we buy, is it really the “right” gift? If we cut the spending down a little and set a limit on what we put on a credit card, say $200.00 IF you can get it paid off when the bill is due, and the rest CASH, AND get below the average person’s spend… Maybe we will be less stressed this year, knowing we do not have to pay for Christmas for the next 3 months+! 😊 Happy shopping/gift giving!
two chicks talking money. 