Be Money-wise with your holiday gifting

‘Tis the season! Time for gifting, decorating, shopping, baking, traveling, giving, singing, rejoicing…

Hmmm… relaxing didn’t make the list. In the rush to do every wonderful thing during the holidays, you sometimes feel like there’s barely time to breath. 

You’re supposed to be joyous, but the best you can feel is stressed. You don’t deserve that. Consider all those things you’re supposed to do. Are they really necessary? Probably not. And if they are, take it down a notch. Without skyrocketing stress levels, you can actually enjoy holiday celebrations. 

A Budget Is Your Best Friend

You’ve heard it before, but that doesn’t make it any less true: Make a budget. Oh, and stick to it. But that’s obviously easier said than done. 

When you’re working on your spending plan, look at how much you can afford now. Don’t anticipate what you can contribute next month. Chances are, something will come up, and those funds will be redirected. 

Of course you want wonderful presents for your loved ones. But does wonderful mean expensive? Not at all. Do you think friends and family want you to give them gifts you can’t afford? Again, no. 

Make a reasonable holiday budget that includes presents, parties and travel expenses. Stress and guilt will fly out the window: Enter joy and peace.

Who Are Your Other Friends?

After you’ve created this reasonable, unbreakable budget, make a gift-giving list. Who do you really have to buy for? 

Write down all the names. Then scrutinize the list. Are these people you truly care about and want to shop for, or are they part of a gift-giving habit? 

You may have lost a connection to some people. Take them off your holiday shopping list. You’ll lower your stress and likely theirs, too, since they won’t feel the need to reciprocate. 

And if the connection is still strong, and you would like to get them a gift but can’t, just talk to them about it. Even if they aren’t in the same situation, they can respect your wishes to forego gifts. 

For everyone who made the cut, generate some affordable gift ideas. Better yet, ask for suggestions. Your loved ones will get something they want, and you won’t have the stress of trying to satisfy everyone. 

Keep Your Eyes on the Prize

Now you can go shopping with your list in hand. Do not veer from it: Keep it close in case you get tempted to stray.

The easiest way to follow your budget is to use cash or a prepaid spending card. When the money’s gone, you’re done.

If you shop online –- which can be cheaper — keep a running tally of what you’ve spent. Don’t forget shipping charges!

Stick to It: You’ve put a lot of work into your present list. The ideas fit both your budget and the recipients. But there may come a time when you’ve reached your limit, but you find the perfect gift. You simply never thought of it. The present is right in front of you. 

First, take a breath. Walk around a bit — maybe it was just a momentary whim. 

Then think: It may be a great gift, but the intended beneficiary isn’t expecting it and, therefore, won’t miss it. Only you know. And you already have purchased a perfectly nice, affordable present.

Allow Changes: If you can’t shake the idea, continue to focus on your budget. If you still must have the gift, then you’re going to have to return something. That’s the rule: No going over budget. 

How perfect does the gift seem now, knowing that you’ll have to make a return? If you don’t mind the bother, go for it. 

But if the exchange will be a hassle, stick with what you already have. One gift is not going to make or break anyone’s holiday, but all these little problems nudge your stress level higher and higher. Your loved one wouldn’t want that!

 

Sarah Landrum is the founder of Punched Clocks, a site dedicated tosharing advice on all things career. Follow her on Twitter @SarahLandrum for more great tips!