Wouldn't it be great to spend only what you can afford to spend this holiday? Imagine not dreading the credit card bills in January, and still feeling like you've shared a wonderful holiday with everyone you love.
Impossible? Not really. It just takes some smarts, and some discipline.
1.) AVOID THE PLASTIC. Simply put, if you don't have the cash, don't make the purchase. It sounds a lot harder than it is, really. If you shop at stores like Kmart that still offer layaway, you can still secure the items you want and pay for them over time, without piling up debt and all of the trappings that come with it.
2.) LOOK FOR THE DEALS & THE STEALS. Let's face it, the economy isn't great right now and retailers are hurting. Look for the freebies and deals that make your dollar go farther. Got kids? Be on the lookout for "Buy One Get One Free" sales that literally double your money. Also watch for free 'reward cards' and gift cards with purchase.
3.) PLAN AHEAD. Make a list of everyone you need to purchase a gift for, and then determine how much you have to spend on each gift. This simple step can help you evaluate additional purchases and make sure that you stick to buying only what you need.
4.) SKIP THE GIFTS YOU CAN. Nothing is more ridiculous than the annual 'gift card exchange' that goes on in most families. Sometimes disguised as a 'Secret Santa' exchange, this ritual involves a bunch of family members buying each other gift cards because nobody knows what to get their cousin/brother-in-law/aunt and - quite frankly - none of us really need anything. Still, we feel obligated to buy 'something' and so we fall back on old faithful - the gift card.
A better idea? How about a "White Elephant" exchange? That's where you give away something you already own to someone else. These can be a lot of fun and sometimes quite silly. Othertimes they can be quite touching, like when an aunt gives you an old family platter or perhaps your great=grandmother's cookbook.
5.) MAKE IT YOURSELF. I have to be honest here, I would rather get a plate of my sister-in-law's melt-in-your-mouth Chocolate Chip Cookies than anything else. And I'd rather get homemade cards and ornaments from my nieces and nephews than the usual gift card or tzatchke from Hallmark that only serves to collect dust. I appreciate the sentiment, but would really prefer something handmade, homemade and simple.
We all want to give during the holidays, but we have to make sure that we are giving of what we have, and not borrowing from the coffers of 2008 to pay for things today.
