Some folks are already feeling generous and planning to spend a lot of money this Christmas. In fact, according to MyFamilyFinances.Net, the average family will spend nearly $750 on Christmas gifts this year. Apparently, many Americans are feeling as if the economy is taking a turn for the better and think that lower unemployment rates and improvements in the stock market are good reasons to spend a bit more. Retailers will be very happy to hear this news and hopefully balance sheets will be looking a bit better by year’s end.
My hope is that everyone has a very Merry Christmas. However, to make sure that your New Year is also happy and not overwhelmed with too much holiday spending, remember these important tips!
- Set a holiday spending budget and stick to it! Take a good look at your budget and only spend what you can reasonably spare. If the budget is smaller than you’d like, consider some of the cool handmade Christmas gifts ideas found on the Get Rich Slowly website.
- Consider ways to cut your Christmas list down to a manageable number. Some families have decided to only give gifts only to the children in the family. Others limit the amount of the gift. I have had a lot of fun trying to find the perfect $25 gift!
- Don’t use credit cards to buy Christmas gifts. This is related to point #1! I know it is easy to push the bill into next year, but the added interest will blow your budget. Is it really worth the added stress?
- Remember the reason for the season. If you are a person of faith, remember the real reason for the holiday. If you are not a person of faith, remember that people matter more than things.
I sincerely hope that you all take the time to enjoy Thanksgiving, Christmas, Kwanza, Hanukkah or whatever you celebrate this year and not get too stressed out by the ‘busyness’ of it all.