Christmas 2012 (Photo credit: paparutzi)
While some look forward to the holiday season with cheerful anticipation, I can’t help but feel a sort of dread. I used to join in their anticipation, joyfully making my own Christmas wish list, puzzled by my mother’s holiday stress.
But now, it’s crystal clear.
Being a parent myself has shed light on my mother’s stress. The pressure to curate an entire holiday experience for my kids – just as my parents did for me – is huge. Decking the halls, trimming the tree, baking the treats, and – oh dear – the mountain of presents. By the time Halloween comes around, I already lament the impending dent in my finances that I won’t be able to fix until mid-February.
Can anyone relate? This year, I’m planning to adopt radical cost reduction measures to curtail the size of my festive spending. Believe me, it’s possible to be festive without bleeding your finances dry.
SHOP AFTER THE HOLIDAYS
This is sage advice from my mother. She extolled its virtues for years, but it took becoming a mother myself to truly understand its value for frugality. During the post-Christmas weeks, there are ample opportunities to land some great deals on seasonal products such as wrapping paper and festive décor.
So, here’s a tip for this year: Keep a mental note of everything you use for the holidays and write it down once the fanfare is over. Then, hit the stores to grab the post-holiday sales – many retailers offer up to 80% discount in an effort to clear their unsold stock! Stow it all away for next year and you’ll ease both your financial burden and your workload when the festive season approaches again.
MAKE A LIST
It might seem overly simple or even absurd, but trust me, running through a comprehensive list before the holiday chaos ensues can spare you a fortune. Under stress or emotional strain, we tend to splash more cash than we intend to, driven by our desire to please, particularly when it comes to our children. The upshot is a stash of toys and gifts that we didn’t mean to buy.
Rather, devise a list detailing those you plan to gift, alongside what each present should be. Include other holiday-related expenditures such as party essentials, travel expenses for family visits, etc. Seeing the final figure in writing can instill a sense of control and readiness to adhere to the budget.
SET ASIDE THE FUNDS
This might be a tactic to employ next year. Once you’ve prepared your list and gone through it, don’t trash it. Leverage it as a guide for next year, providing insight into your financial outlook and offering a convenient directory for gift planning. Having an estimate of the required spend for the following year presents ample time to allocate the funds, thus preventing the need to accrue debt during the holiday season.
