6 Ways to Stick to Your Budget This Holiday Season
It happened again. The calendar went straight from July to Thanksgiving and all of a sudden I’m panicking about what gifts to get for friends and family. The holidays can be tough on our waistlines, mental health and financial wellbeing. As Americans, we have become more and more comfortable talking about how important it is to try to maintain physical health during the holiday season, but we’re not quite as comfortable talking about the challenges the season brings to our emotions and wallets. I am determined to change that!
The season is full of financial pitfalls. There are extra expenses that we incur in a short period of time (hosting parties, giving gifts, traveling during peak times) and, maybe more importantly, there is a general cultural mindset of blind abundance. More is more! We only live once! You can worry about that later! Don’t be a party pooper! That pressure is INTENSE, and I get it. I feel it too, but I have a couple tricks that help me resist:
I remind myself that the people I give gifts to aren’t going to remember what I got them in a month. I promise.
I plan ahead of time so I’m not surprised. I list out everyone who I’d like to give a gift to and then give myself a budget for each person.
So, how do we combat this seasonal spending onslaught?
First, remember that you don’t need to give presents to everyone you’ve ever met. We’ll get more into how to decide who to give gifts to in the next post, but for now, keep in mind that you should only be giving to people who you really want to give to.
Create thoughtful homemade presents. This can be anything from fun snacks and sweet treats to homemade candles or pottery. These work best when you tap into what you are good at as well as what the other person will really appreciate (don’t get your vegetarian friend homemade jerky!). If you’re having trouble thinking of good ideas, check out Pinterest. A lot of stuff you’ll find is way beyond the average human’s creative abilities, but I find if I look at the inspiration knowing that’d I’d need to tone it back I find really good, reasonable ideas. My personal favorites are super simple -- homemade cookies wrapped in cute tissue paper, placed in colorful cardboard boxes and tied with a bow.
Go old-school and give the gift of IRL photos. We all have so many photos, but we rarely print any of them out anymore. I mean for goodness sakes I STILL haven’t printed my wedding photos and we’ve been married since 2015. Favorite photo tips from the Verdi family: go matte! It looks great in a frame. 2. Check out Micheal's for the best deals on custom framing.
Host potlucks. Potlucks are amazing because they create win-win situations for everyone. Guests like getting to feel useful and the host doesn’t have to do everything by themselves. I highly recommend including chores in the delegation system for this one. For example, ask someone to pop by 30 minutes ahead of time to help you set the table instead of bringing another dish.
Activity gifts. Does your sister really need another scarf? Probably not, but you know what she does need? A fun day out with you! You can plan something that costs money or something that is totally free. One of my personal favorites is checking out free museums or galleries and bringing a picnic lunch full of favorites.
Signature drinks instead of a full bar. Full bars are great fun for everyone except the one footing the bill. What about making two large batches of signature drinks instead? I personally love mixing up Elderflower Champagne and Sangria. They are easy, crowd pleasing and so much more cost efficient!
Donation gifts. We spend a ton of money on things and so much of the time those things don’t last or aren’t really wanted. Instead, donate to a cause in your friend’s name! Just make sure to pick a cause that they feel good about.