Merry March! (Credit: Freefoto.com)
A walk outside today reminded me that it’s starting to get warm again. Remember when it started to get cold? When that happens, we usually start counting down the weeks and months until Christmas. And along with the Christmas decorations and advertisements comes that panicked feeling where we realize that our regular monthly budget will be called upon to purchase gifts, Christmas cards, and probably a feast here or there.
This past January I spoke with quite a few friends (and some strangers) who mentioned something along the lines of, “Yeah, I need to take it easy on spending for the next little while – still paying off Christmas.” As I’ve reflected throughout the year, and as we feel the impact of many of those around us in debt (including ourselves and our nation as a whole), there may be given to us an opportunity, in a small way, to stop the cycle and try things differently. Here are some Christmas thoughts that are applicable even 10 months away:
1.) Save throughout the year for Christmas. This one is #1 on the list for a reason – Christmas should not sneak up on us each year – it’s right there in the calendar every December. Figure out how much you normally spend for Christmas, determine if that’s too much or not (and revise downward if it is), divide by twelve, and there you go – that’s how much you should set aside each month of the year for Christmas. Lump it in with your other savings or ask your bank to let you start a “Christmas Fund” or savings account that you only use for Christmas money. Banks love people who want to save money, so go get loved on.
2.) Try to think about Christmas (and birthdays) throughout the year as you walk through life – did someone mention they would really love “this”, or could really use “that”? Write these down in a place where you keep information about the people in your life. When we’re not sure what to get someone and we’re up against a deadline, we usually rush the process and usually make an expensive purchase of something we only hope they like. It’s almost like spending more money is our apology to them for not being more creative or paying attention to what they might need or want. Thinking ahead here also enables us to shop around for the item and make sure we’re getting a good price. And even better, when your friend or loved one knows that you listened to what they said back in March, that’s another gift all in itself.
3.) Remember that Christmas is about more than what we get crammed into our ears and eyes all of November and December. Tell the guilt monster to take a break and get creative. Don’t have much of a budget? Look around online or consult friends for good, less expensive gift suggestions. This may take some effort on your part, but it can help bring your spending down and the time spent on a meaningful gift won’t be lost on the person who receives it.
4.) At a loss about what to get someone, or just want to try something different? Make a donation to a charity in their name, and get creative by giving in a way or to a place that would really mean something to them. Maybe there’s a place they volunteer or serve that you know they love – a gift to that place in their name would surely mean much to them, not to mention the ultimate receivers of the gift. Now we’re getting a little closer to what Christmas is all about!
What would it be like if as Christmas approached this year, you knew you were ready, at least financially?
9 months, 20 days, 1 hour. Go!
Generous-city 
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Great thoughts and I think this is definitely something we need to employ. One thing I struggle with as I read about spreading out costs throughout the entire year is what happens as you stretch out a lot of costs, but then leave very little to spend on a week-to-week or a month-to-month basis. What happens when you “stretch” yourself too thin on the budget?
Hey Leo! Thanks for the great words. I think it really all comes down to timing. By saving for Christmas, you’re not really “spending” more, just trying to smooth out your budget. So, if you spend $50 a month on Christmas (or saving for it), it’s a lot easier on your budget and your stress than having to come up with $600 all at once in December or January. In then end, you’ll spend the same, so if stretching it out is leaving too little money elsewhere, you may want to look at your budget as a whole and see if there’s anything you can cut back on that will help you be able to save for Christmas and have a merrier December! And January! And February…you get the point.
Yeah, I think that is a great point. If stretching out the large expenses we encounter throughout the year, such as Christmas, is causing too much stress on the 12-month budget then it might be worth making decisions to cut back on some of those expenses. Either that or cut back somewhere else to accommodate the extra monthly budgeting for Christmas and the others.
Keep up the great writing!
Credit Unions usually have a “Christmas Club” type of savings account specifically for this purpose; I like it cause you can open the account usually with a very small sum, $5 or so. The important thing, in my opinion, is to approach Christmas and birthdays from ‘how much have I SAVED to spend’ and not from a ‘how much credit limit do I have left’ perspective. I like this article; you are exactly correct and people do need to think of gift-giving in their budget planning…we all do it, after all.
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