The holiday season is a time of joy and generosity! Let’s embrace the spirit of giving while also being mindful of our spending. By setting budgets and prioritizing what truly matters, we can celebrate with love and kindness while maintaining financial stability into the New Year.
If you are a gifter for the holidays, finding a balance between thoughtful gifts and staying within your budget can be challenging. With a bit of thought and discipline, you can create a list of gifts that everyone in your family will love without breaking the bank.
Here are five tips to help you avoid overspending and create the perfect Holiday giving list this season:
Create and Stick to a budget. This is the first step and essential to maintaining financial discipline and avoiding debt. Create a list of items you’d like to buy, then assign a realistic budget to each one. Don’t be tempted to go overboard and spend more than you can afford, especially when purchasing gifts for your children or spouse.
Think about the recipient, not your desire to impress. Before you buy something, ask yourself: what would [INSERT RECIPIENT’S NAME HERE] truly appreciate? Consider their interests and needs over your urge to buy extravagant gifts. Remember, it’s the thought that counts, not the price tag.
Talk about your journey. I find that when I talk to my friends and family about my intentional planning, budgeting and just being more financially responsible, they often are already doing the same or are inspired by my intentions and want to join in on the journey. Who doesn’t want to become more financially responsible? And bonus, you willnprobably take some holiday gifting pressure off of them too.
Experiences can be the best gifts. Sometimes the most memorable and meaningful gifts aren’t physical presents at all, but experiences you can enjoy together. Consider gifting tickets to a concert, play, or sporting event, a fun outing or adventure, or a special meal at a favorite restaurant or better yet – host the gathering at your place. These gifts will create lasting memories, without the hefty price tag.
Give the gift of time and talent. One of the most valuable things you can give is your time and unique skills and talents. If you’re handy, offer to fix something, help with a house project or build something for a loved one. If you’re a great cook, assemble a basket of homemade treats. Plant some bulbs or a small tree, if you have a green thumb. These kinds of gifts show you care and are willing to put in the effort to make something special, just for them.
By following these five tips, you can create a holiday giving list full of love and thoughtfulness, without the financial stress of overspending. Remember, the season’s true spirit is about connection, kindness, and joy, not about how much money you can spend. The best gift you can give yourself and your family is a stable roof over your head without all the extra late fees. With a little bit of planning and creativity, you can have a holiday season that’s merry and bright, without the hangover of debt in the New Year.
Happy holidays, everyone! For all the right reasons, let’s make this a season to remember.
Dedicated to helping you #LiveSovereign,
Karen Hatcher, CPM®