Holiday Shopping Mania
I don’t know about you, but I’m feeling pretty overrun by holiday shopping ads. It seems like a never ending barrage and this year for some reason feels more heightened to me.
So, I wanted to take some time in the newsletter to share the system that I’m using to make sure that I have a successful holiday shopping experience. And, by successful, I mean that I stay within a set amount of money I’ve decided to spend, that I’m happy with my purchases, and that I don’t feel too stressed.
Some parts of my plan may seem over simplified, but by a super not scientific poll conducted by me asking clients and friends, it seems like very few people use any system at all, so I hope this helps!
Step 1: Make a list! (Actually make a few lists)
Make a list of everyone you would like to get a gift for
Make a list of any events you are attending
Make a list of any events you are hosting
Step 2: Identify Your Non-Negotiables
For each of the above lists check the non-negotiables (i.e. you have to and want to go to your sister’s annual New Year’s party and you absolutely will be giving a gift to your niece).
Step 3: Eliminate the Fluff
Is there anything not on the non negotiable list that you really don’t want to do? If so, cross it off! I know! It is nuts! If it is an event, make a calendar event for that day/time that says something along the lines of, “Congrats! You made a good choice and get to do whatever you want instead of going to XYZ!”. If it is a gift for someone, ask yourself if you need to tell them. If you do, give them a heads up and explain that you are working on larger financial goals that mean that you’ve needed to cut back on spending this year. Or - better yet - blame me! Tell them your financial coach said to cut it out.
Step 4: Budget it OUTTTT
Here’s where the rubber meets the road. Give yourself a gift giving budget, an event hosting budget, and an event attending budget.
These budgets should all either be doable for you with your expected income or should be something that you want to pull from savings for. They should not be amounts you are planning to put on a credit card.
Not surprisingly, I like to use a spreadsheet to map out my plans. For each gift or event I write out all of the expected expense items, the amounts of money I plan to spend, the links for anything I am buying online, how much I actually spent, and whether I went over or under my goal.
Step 5: Buy the things!
Pretty sure this step is self explanatory :)
A couple tips just in case you’re feeling stuck:
Accept help if you are hosting an event. People really do want to bring things! It makes them feel useful and good!
When buying host gifts, think about things you can buy in bulk.
If you need a special outfit for an event, but don’t think this will be something you use much in the future, look into renting the clothes instead! A lot of my clients love Rent the Runway.
As always, I’m rooting for you.
XOXO,
P.S. If you are reading this and thinking, “but Caroline, I have no idea what my budget should be!” then you may be ready for some financial guidance. If you want to try something low commitment, but meaningful, check out the Money Diary (clients actually call this tool LIFE CHANGING). If you’re ready to go full hog and get all your financial ducks in a row (oh my goodness, too many animal puns, I’m sorry), then schedule a free call with me or fill out the client inquiry form. I’d love you to join me for coaching in December or January!