It is that time of year again. It's time for parties, shopping, spending time with friends and family, shopping, and shopping. All of that shopping can really wreck your budget and leave you literally paying for it for the next year. However, there are some relatively painless ways to control your holiday spending, and even prepare for next year. Use these tips and enjoy your holidays!
1. Make a list and check it twice
There are three really good reasons to have a list. First, it will keep you from forgetting anyone. Second, it is a great feeling to cross people off as you get your shopping done. Third, it allows you to think of reasonable gifts and comparison shop for them. Without a list you are more likely to impulse buy and spend more than you really need to.
2. Stick to your list
Alright, this can be a hard one. For many of us Holiday shopping is a time of "one for you, one for me" bargain hunting. But, by the time you add up all of those bargains you found for yourself, you will have spent possibly hundreds of dollars more then you intended to. In addition, assuming you put plenty of thought in to what to buy everyone when you made your list, think long and hard before you change your mind on an impulse.
3. Make a budget
How much do you have to spend, or how much are you willing to go in to debt and how long will it take you to pay it off? Yes, these are questions you should ask yourself. If you have unlimited funds and money is no object, have at it! Go to Neiman Marcus and spend, spend, spend! However, if you are like most of us, you will also have to pay for a place to live, transportation, and food after December. Honestly consider what is reasonable for you and then adjust your list accordingly.
4. Take advantage of credit card points for gift certificates for yourself and others
Now is the time to take advantage of some of those credit card points you have been racking up. If you do have a card that allows you to exchange points for gift certificates, consider using them now. For example, if you have 70 or 80 thousand points and for 10 thousand points you can get a $100 gift certificate, why not? Check with your credit card company regarding any hidden charges or penalties, but for most people it is a good deal.
5. Comparison Shop online before you buy
It is no longer necessary to drive to 10 different stores to find the best deal. Walmart, Target, Bloomingdales, Macys, The Gap, Old Navy, the list is endless of stores with websites. It definitely pays to take a few minutes to look at who is having sales in store and online. If you know what size someone wears or find a perfect gift item while comparison shopping, check for free shipping promotions. If the price is right, it's on your list and the shipping is free (and it's not December 24th), you have just made your shopping life easier.
6. Use coupons
This is a great time of year to find coupons in the newspaper or online. Some online options include www.coolsavings.com or www.dealcatcher.com.
7. Give time
Give a coupon book for free babysitting services, car detailing, housekeeping, or errand running to busy people you care about. Just make sure you follow through on your promise when they present the coupon! And offer if they forget to use the coupon. Baking treats is also a great way to give of yourself to your friends. Develop a signature treat that you do really well and they will look forward to it year after year.
8. Skimp elsewhere
Since you know you will be spending more money than usual this time of year, look for ways to conserve in other areas.
- If you tend to use your credit or debit card for lunches during the week, bring your lunch or force yourself to use cash only for the rest of the year.
- Instead of going out to the movies, rent and stay home.
- Use coupons for pizza and get the less expensive kind with fewer toppings.
- You will be amazed how all of these little changes add up! And it may just help you with saving more money next year.
9. Keep your receipts
Not just because someone may need to return something, but to keep track of your spending. Get a shoebox or big manila envelope and drop the receipts in there at the end of each shopping day (don't forget to print the online receipts too!). Ideally, keep a running total at the end of each day (paper clip the one's you've already added up) so that you can keep track of how you are doing.
10. Start planning how you are going to start a holiday savings account for next year
Remember the old Christmas Club accounts the banks used to have for kids? What a great idea that was! Very few banks encourage that sort of savings today, but there is no reason you can't start one for yourself (and your kids!). Simple steps like:
- Putting a glass jar on your dresser to put your spare change in at the end of each day;
- Use an automatic deduction from your checking account to a savings account each month (you will be surprised how even just $20 or $30 dollars a month can help!);
- Bargain with yourself to put the money you would have spent buying the expensive latte in to the jar - and buy the regular coffee instead;
- Charge yourself a dollar a day and put it in your Holiday Money jar. Think about it; $7 a week adds up to $365 by the end of a year!
Getting Along With Relatives During the Holidays
Holidays are one of the few times during the year that you are likely to find yourself surrounded by people you do not necessarily like, just because you are related to them in some way. With all of the other stresses of the holidays, listening to Aunt Sue and Uncle George argue about politics, watching your sister-in-law drink too much and get grumpy, or having one more person ask you what it is you do for a living exactly can put you over the edge. However, there are ways to cope and actually have a good time.
Remember that the interaction time is limited. One of the good things about holiday gatherings is that while they may seem to last forever, they really do not. You are not moving back in with your parents, siblings, or whomever, you are just having a meal (or two) with them, or staying with them for a few days. Remembering that this is not a permanent situation can help you diffuse the need to fight for your rights.
If your extended family situation really is not enjoyable for you, consider setting a time limit on it. If it's your in-laws that you have difficulty with this is obviously a more sensitive issue, but one that you should communicate openly with your spouse about. Start early, before you are in the car on the way, and talk to your spouse or partner about your feelings (be sure to own your feelings of discomfort rather than blaming them all on his or her family).
Have an out of body experience. Sometimes the best way to keep from getting emotionally involved in a short-term situation is to mentally and emotionally step away from it and look at it from a different perspective. Again, assuming you are an adult who does not live at home, there is no permanence to this situation. While your mother and aunts can certainly gang up on you about your marital situation/job/living situation/boyfriend/girlfriend/fill in the blank, they cannot make you do anything about it. Try to see the humor in the situation, and try to have compassion that from their perspective they really do think they have your best interests at heart.
Treat your relatives like friendly acquaintances. We all have situations, whether at work or through gatherings with friends during the year, when we have to interact with people we may not really have much in common with. Somehow, in those situations, it seems easier to be cordial rather than attacking them for being morons. Yes, the baggage from our childhoods or feelings of protectiveness over your spouse or partner makes gatherings with relatives "different" and more emotionally charged before we ever get there. However, psyching yourself up to treat your relatives with the same respect you would treat an acquaintance at a work party definitely has its rewards. It helps give you permission to have emotional distance and not get sucked in to the old baggage.
Stay on neutral ground. Unless you want to or absolutely have to for financial reasons, if you have to travel away from home and really, really hate staying with relatives, make arrangements to stay with friends or at a hotel. Obviously if this is an in-law situation, it is another thing you need to discuss with your spouse or partner before boarding the plane or packing the car. Be respectful of your partner's feelings, but at the same time express to them that you want some quality alone time with them during your time away from home. They may even be relieved at the prospect and the two of you can make plans to play tourist and make it a bit of a mini vacation, rather than just a "visit".
What if . . . Despite all of your best efforts, some family situations are just truly unhealthy, even for short periods of time. If there is physical abuse or the type of substance and or verbal abuse that was damaging to you as a child, you certainly do not need to bring your children around it or be around it yourself now. If you are unsure what to do but know that the idea of being around family at the holidays ties your stomach up in knots, consult with your Employee Assistance Program, family physician, clergy member or other trusted professional to discuss your options.
