The costs associated to Christmas are huge, and I don't pretend that they are all related to one issue. Having said that, most people likely won't cut back on their travel budgets as visiting with family and friends is perhaps the most important part of the holiday season. Food is also an unlikely place to cut as it is so enshrined in our holiday culture. So how can we make Christmas more affordable without negatively impacting ourselves or our family?
This is going to seem like it goes against what I just said, but the easiest way to cut your budget is to cut your giving. Now by giving I don't mean charitable donations. Those gifts are crucial to the well being of those struggling in this economy, and there's always the tax rebate to encourage you to give the same or more this year. No, I want you to take a close look at what you're buying your extended family, your adult children, parents, etc. Are you really making their lives better with an expensive box of chocolates, or a knick-knack that's unlikely to do anything more than gather dust? I'd suggest that the answer is no. So why not consider one of the following alternatives?
Secret Santa - I'm sure that most, if not all people, are at least somewhat familiar with this. Assign everyone someone to buy for and set a spending limit. You'll be buying one gift and with a slightly larger budget you'll have the opportunity to personalize your gift to your recipients particular tastes and interests.
Yankee Swap Version 1 - Each person brings a wrapped gift that is under the set budget limit. A name is drawn out of a hat and the first person selects any of the gifts. They open it up, and show it to the rest of the group. The next name is drawn, and this person can either take the gift from person 1, or choose a new gift to unwrap. If you have an unwrapped gift taken from you, you select a new gift to unwrap before the next name is drawn. The next person can choose a new gift, or take any of the opened gifts. This game is more entertaining for your family or friends as there will always be a few items that everyone is fighting over.
Yankee Swap Version 2 - In this version, we follow the same general rules, but we leave the gifts wrapped. There will still be items that your family and friends will be fighting over, but in this version, you may be fighting over a well disguised pair of socks, while the highly sought after gifts go unnoticed in simple packaging.
All 3 of these games allow you to spend precious time with your family and friends, recognizing how important they are to you, while also helping you, and them, avoid spending beyond your means. The average family could easily save hundreds of dollars a year in this fashion, which can be reprioritized to meet your financial goals.
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| Could this be in reach? |
