Is it Time to Start Christmas Shopping?

If you’re one of those people who seem to be taken by surprise every holiday season, then yes, it’s time to start Christmas shopping!

I know, I know. Labor Day is still on the tips of our tongues and you haven’t even thought about the kids Halloween costume yet. It may feel too early, but unless you’re expecting some type of financial windfall between now and December, it’s definitely time to start Christmas planning! With just over 100 days until Christmas, it’s time to start your preparation for the holiday season. The reality is that when you’re not prepared, you make what could be and should be an amazing time of year far too stressful.

Far too many of us become overwhelmed by trivial things; From the decorations most people won’t even pay attention to, to what to buy co-workers we barely like, we spend money we don’t truly have because of both commercial and self-induced pressures. Getting into the holiday spirit doesn’t have to break the bank. You can do it by simply asking yourself these questions to ensure you are stress-free and financially ready for this holiday season.

1.    What did I spend last year? The best indication of what your holiday spending may be this year is determined by what you spent last year. Check last year’s bank statements or gather every last receipt for each purchase you made or expense you incurred during the holiday season (November 20^th – December 31^st). Include everything from gifts to additional food, wrapping paper and decorations. Tally it up and add at least $100 for all the small things we know you’re going to forget. This number represents what you need to save over the next few months.

2.    Where will my holiday money come from? Based on your findings, create a holiday fund. Divide the total dollar amount of what you need to save by the number of paychecks you plan on receiving between now and Christmas. Begin stashing money away in a separate account as soon as you possibly can. If you don't trust yourself, utilize online banks like ING Direct. They typically takes 48 hours to transfer funds, so that should help you think twice before spending your holiday fund on anything not holiday related.  

3.     What’s in my spending plan? Categorize every holiday-related expense imaginable. Write down how much you anticipate spending on each. Add everything up. If it exceeds the budget, prioritize and adjust your list accordingly. Remember everything is negotiable. Don’t feel pressured to go beyond your means.

 

           Related Post: 7 Ways to Spend Less and Erase Holiday Stress

Is Money A Thoughtful Gift?

Finding the perfect gift is a delicate dance between what people want, what your resources can afford and the time and energy you have to put into the search.  Boiled down to simple terms:  a successful gift is the one that is both wanted AND thoughtful.

Remember when you were a kid though and received your first disappointing gift? Your first lesson in gratefulness was your mom saying something along the lines of "It's the thought that counts." Since then you've probably received countless “thoughtful” presents that you've only pretended to like. The bad news though is you've probably given some yourself.  At some point, you've also racked your brain and wallet to create the feeling that you really cared about someone – but despite your greatest efforts, your gift was a dud and someone muttered to you those infamous five words - "It's the thought that counts."

With that, you've probably done what millions have: saved your time, energy and brain power and switched to money-gifts.  Money is definitely easy to give and, for most of us, it definitely meets the "want" requirement of the equation, but is it really thoughtful? 

7 Tips To Spend Less And Erase Holiday Stress

The holiday season is generally a great source of stress for many people.  Rather than feeling blessed and care-free, many of us are overwhelmed by trivial things from what to buy the co-worker we don't even like to how we tell our children they just can't have it all! If you're already in debt, please don't let the holidays make it worse! Trying to please everyone is not worth your sanity or the risk of taking more baggage into the New Year. 

Here are 7 Tips to Spend Less and Erase the Anxiety & Stress of the Holidays

1. Get a plan together.  Write down any and everything you can think of from where you plan on spending the holidays to who you plan on buying a gift for and what you want to get them.  Make sure you put a dollar amount next to everything that needs to get done.  Being clear and sticking to a predetermined plan will reduce your anxiety by getting a million 'To Dos' out of your head and on paper.  You'll also save money by staying focused and not buying impulsively.

2. Arrange travel accomodations early.  As soon as you confirm that you're definitely visiting family or friends out of town, begin pricing airline tickets and rental cars.  The earlier you purchase, obviously the better. You may also want to consider taking the train to your destination. Trains are cheaper, less of a hassle and a lot nicer than many believe.  Although they take much longer, you might be able to use the time to enjoy the scenery, settle yourself and get ready for your relatives!

3. Make something personal.  Use your talents and skills to make one of a kind creations for the people you choose to bless with a gift.  If you're an artist, paint a personal masterpiece.  If you're a singer, make a CD for loved ones.  If you're an accountant, give someone a gift certificate to help them set up Quickbooks.  Be comfortable with thinking outside the box and finding the gift that lies within you.