“The way you spend Christmas is far more important than how much.” – Henry David Thoreau.
Please welcome our first guest post from my friend, Valerie Carpenter! When she's not sharing her tips for getting the most out of your holiday spending, she's helping people get the most out of their vacation budget. You can find her business Facebook page here.
There are plenty of blog posts about Christmas budgeting and spending. How you should start a budget several months, if not a year, in advance with suggestions to even open a new banking account specifically for Christmas spending. Although budgeting is essential to have a successful and debt-free Christmas, my hopes is that this blog post will inspire you to see the holidays differently and how it’s possible to pivot from the typical traditions and expectations for the season. If you have personally suffered a financial loss from the unprecedented pandemic, or maybe you are just tired of being broke after the holiday, it is an ideal time to get creative and savvy with your holiday endeavors! I have composed some suggestions on how to do exactly that…
SHOP LOCAL! – This one is huge to me. This time of the year is heavy on all of our pockets, whether you are an entrepreneur or not. So why not support one another buy buying from one another. And I am not talking about buying from your friend who is a cashier at Macy’s – let’s stay away from these big box companies. There are plenty of small businesses in your community that offer tangible items that make fantastic gifts. Some of which have put sweat and tears into handmaking them themselves! I am personally a gift giver, and find ways to make gifts during the year unique and special. This typically means the gifts I give are customized or personalized in some way. Find local businesses that have services like these to offer. Their products cost less because they are crafting them in house and you can get away without shipping costs if they are in drivable distance. Meanwhile, the gift you give to those special people in your life will be much more appreciated because it shows you took the time to get something made specifically for THEM! In turn, you are helping a small business financially. Strick up a conversation and share what it is you do with the people you buy from – maybe they will have a need for what you have to offer! Or perhaps you can even barter! I bet I have you thinking now…
QUALITY OVER QUANITY! – There is this unspoken rule of sorts, that the more you spend the more you love someone. But if you read that out loud…doesn’t that sound ridiculous?! Some of my most favorite gifts received were handmade or reasonable priced. It was more about the person understanding me and buying something that they knew I would appreciate, love or find humorous. My advice is to set the expectation ahead of time. For families with kids, why not express that each year they will get one GREAT gift (a high-ticket item), but that will be followed by smaller / stocking-stuffer type gifts. These other gifts are really for the sole purpose of generating that morning-of-excitement in having several things to open under the tree! Face it, have you ever seen a kid open a gift on Christmas day…you know, the “gift of the year” that every kid has been talking about…to find them 30 mins later making a fort out of the cardboard box it came in? My point exactly!
MEMORIES OVER CONSUMPTION – And that brings me to my next point! You know why kids find it fun to play with the cardboard box their expensive gift came in? They want to pretend, explore and use their imaginations. So maybe this year consider doing exactly that! Give one another the gift of memory making. There is no sweeter gift, than the gift of travel! Take a trip…near or far. Either plan this in advance as a family, or surprise the kids Christmas morning. How awesome would it be to find out as a kid (well, even as an adult) on Christmas morning, that you are headed to see Mickey Mouse at Disney and leaving the very next day?! That’s a Christmas that keeps giving! That will be days of fun and adventures, where as a family you enjoy it together. Truth is, if you ask anyone (child or adult), what they got for Christmas 5 years ago, they likely can’t remember…but if you ask what trip they took 5 years ago, I would confidently bet money they will remember!
These are all just suggestions from personal experience, so make of them what you please. To recap…YES, budget, just like everyone says to. [Annnnnnd, if you don’t know what budgeting looks like…well, that’s a whole other discussion. You ought to consider reaching out to Lisa Duke Financial Coaching for a better understanding *wink wink*]. But in all seriousness, change your thinking and you will change your spending. Christmas can look extra bright without making your checking account extra tight.
P.S. Would you be interested in a free call where Lisa works with you to identify your #1 money block and the solution? Grab a spot on her calendar today!
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