Money & You – December 2010
by Tommy Haws
’Tis the season. We all love the holidays and love the joy, festivities and merriment that they can bring. I love the music, the sights, the colors, and the way everyone seems to be in a better mood. Here are a few things that you might consider when you are entering this season with regards to your money and budgets so that there will not be a holiday hangover in January.
Budget
The best way to make sure that your holiday spending does not get out of control is to create and stick to a budget. Some things you might consider:
• Do you think it important to spend approximately the same for each person in your family? If so, budget accordingly
• Do you have extended family that is expecting something just because they can afford to give you something? If so, consider some of the things below.
• Self-made and thoughtful gifts can be more affordable and more meaningful at the same time.
• Do not forget the “other” part of your budget that sometimes gets forgotten but always creeps in – namely the unexpected expenditures like:
o Office “Secret Santa” or gift exchange items.
o Gifts to teachers or coaches.
o Food that is not part of your normal purchasing habits (think goodies or potlucks).
o Travel if you are going somewhere for the holidays or other accommodations if you have family coming in for the holidays.
o Charitable giving that is always part of the needs of the holidays for the less fortunate.
• It is always okay to remind yourself of the reasons you celebrate and focus on those things that will last longer than a store bought item.
Time is as valuable as money
Often we focus on what we can buy for Christmas or other holidays and forget that we are a time-starved people. Those that we love the most will remember the time we spend, the fun things we do, and the acts of service rendered more than the toys that are broken by the 27th or the gadgets that can be lost. Think of gifts that do not cost much money but might be the best things you can give. Here is a short list that might spur some of your own ideas.
• “Coupon” books – you can prepare coupons for family members that they can redeem for favors, chores or other extra acts that will help that person. For instance, a child can give a parent a coupon for one day free of complaining about chores, or a backrub that your wife can redeem after a hard day.
• Books. Many classic books are easy to get and not very expensive and often are the foundation of all current literature. Since many are part of the public domain, they are more affordable than ever and can often be seen at Goodwill or other thrift stores.
• “Staycations” are a new fad where you can take a break from the world but not be part of the hubbub of the schedule we often impose on ourselves. Stay home and rent movies, eat popcorn, and enjoy other luxuries while the phone is off and the world gets shut out. If work can live without you on a cruise, they can live without you while you are a block or two away.
Be Generous
I know that you are thinking that I am talking out of both sides of my mouth, but I am not. The budget should be adhered to, but find room in your budget to give, as well. One family I know personally taught their children the importance of giving by asking them to sacrifice one of their own gifts under the tree in order to give them to a less fortunate family that they knew who had lost their job and were going to be having a slim Christmas. I remember an anonymous benefactor who laid an entire spread at our feet when we were less than able to provide a full Christmas to our family because of some difficulties when our kids were small – and it made us humble to think that we were able to have things to give our little ones when we thought we were not able to.
But be generous to yourself, as well. Generous with that time we talked about. Each holiday is a precious gift that will never be duplicated. It is when we miss loved ones who pass on and therefore leave that empty seat that we sometimes realize that it was never about the material things we bought – it’s about our family and loved ones that we are privileged to share a few years with on this planet.
All my best to each of you readers during this holiday season. Have a very Merry Christmas and let that merriment go with you on to a Happy (and not regretful) New
