Saving Tips for the Budget to Work This Christmas
63Exaggerated spending this holiday season is one of those big mistakes in budgeting. If you are thinking of buying the unnecessary things that you were not able to buy during last year's Christmas season, you have a big problem that needs attention.
Though the family members and close friends gather together with love and gift-giving to share and enjoy this holiday season, this should not be the time for you to be tense and intense about gift-giving that will cause you a depleted wallet or bank account.
You need to have a budget plan. This is a must as things are not getting cheaper and life is not getting easier. Budgeting your personal finances will free you from unnecessary guilt and expense.
Here are some tips to make that budget plan work:
1. BUDGET
Know how many gifts to buy and how much money you can spend for the gifts.
2. LIST
Create a list to know how much can be spent for each gift according to your budget.
3. DELAY
You can choose not to buy gifts for now if the budget is not enough and give them later when you already have money. Instead, spend money for sumptuous food but only enough to feast on that will be shared during parties and gatherings. It would save you a lot of money.
4. DONATE
Start a campaign for a cause where you only get to share a not so huge amount, encouraging each member of the family to participate. Giving donations for causes or for institutions is a nice way to spend the season.
5. LIMIT
Assign a specific amount for each gift, e.g. 5$ or less for a gift. Or instead of giving a gift, give your service free of charge.
6. ENGAGE
Let the children help you in gift-wrapping than spend money for gift-wrapping services. This way you are also teaching the children about giving and about the gift-wrapping activity.
7. ENCOURAGE
Give a gift that will promote health and well-being. A membership card to a gym can encourage the receiver to be conscious about his health and wellness.
8. DISENGAGE
Stay away from expensive or high-priced gifts. If you have a limited budget, it is not understandable why you will insist on buying expensive gifts.
9. FOLLOW
You have a well-planned budget for these gifts. You just simply need to follow.
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Very good advice for this time of the year.
Regarding the previous comment, I think there are some people who are very easily offended. It can be very difficult to find the right gift for somebody like that. However, I am all for giving healthy gifts!
Excellent and timely advice. I love number 6. They particularly enjoy decorating the Xmas Tree too.
hi, stonepost! well, that was just a suggestion. anything that could contribute to health and well-being can do. though i believe if a person has that mentality, whatever form will offend. thank you for that insightful comment.
2patricias! how are you? that is how i think of it, too, because whatever healthy gift you give, the recipient will take it against you if he has that mentality. :-)
oh, the kids! i agree, Lady_E. they are always curious. :-D
StonePost 5 months ago
I think that #7 (membership to a gym) might be offensive to the wrong person. It may imply that they are fat, even though that is not the intention. Thank you for your Hub!