Christmas without Going Broke

By Jim Liebelt
Dec. 8, 2009

The consequences of the recent economic crisis have hit many families hard. Sure, there have been economic downturns before that have affected many. But, in my years as an adult, I have never seen such widespread financial impact and uncertainty.

I am reminded that in Christ, there is no reason to be afraid. As Christ-followers, we know that God is still on His throne, and we have much for which we can be thankful.

As we enter in upon the Christmas season, all of the economic bad news ought not to affect our celebration that “Unto us a Child is born. Unto us a Son is given.”

But this Christmastime, perhaps more than any other in our lifetimes, we need to be wise in our approach to our Christmas celebrations and traditions, to ensure that we take economic realities into consideration and put our families in the best posture to weather the difficult financial times we live in.

Here then, are some practical ideas for surviving the holidays without going broke.

 

Establish a Budget for Christmas Spending. Make a quick list of everyone you feel you need to “gift” this Christmas. Then, take a look at the state of your finances, and decide how much you can afford to spend on Christmas gifts.

Set this amount as your limit. Write it down. Finally, take a look at your gift list again, and begin making some decisions on specific dollar amounts to allocate to each person.

Remember, not every gift needs to be one that has been purchased.

 

Stick to Your Budget. Christmas tends to bring out the best in people in terms of feelings of generosity toward their loved-ones. But, once you’ve set your Christmas gift budget, stick to it.

Don’t budge. Once you reach your budget limit, you’ll need to say, “That’s all. No more.”

 

Resist the Urge to Buy on Impulse. One of the biggest reasons people break their Christmas spending budgets is that there is a strong urge for us to buy on impulse.

We go out looking to buy a certain gift for someone. We pick it up in the store and then as we’re headed toward the checkout stand, we see a special super duper sale on turnip twaddle’s and think what a great gift it would make, as well. So, we end up buying something we wouldn’t have otherwise purchased.

I don’t know how to completely avoid having an urge to buy on impulse. But, what we need to remind ourselves of is this: Whomever you purchase an item from has a vested interest in seeing that you buy more.

They’ll advertise, market, and display with their goal, to create that impulse within you to buy, on sight.

 

Don’t Buy Yourself Anything. According to the last statistic I’ve read, the majority of people who go Christmas shopping end up buying items for themselves. Many don’t take this into account when they set up their Christmas spending budgets.

So, either be smart from the start by including an amount for purchases you want to make for yourself, or, simply choose not to buy yourself anything this year.

 

Shop for Bargains. In a struggling economy, retailers will be discounting items (but not everything, mind you). Help stretch your dollar by being a comparison shopper. Take advantage of sales.

Lots of bargains can also be found online, and keep in mind that you might actually find your best price there. But, one caveat: Often times, online retailers may give you a real bargain, but charge horrendous amounts for shipping, and in the end, you might even pay more for that item online than if you had purchased it locally.

Finally, there are lots of non-name-brand items that are made with decent quality. So, even if a purchase is not as “cool” without that popular name-brand, during times of economic hardship, non-name-brand items can provide good choices for saving some money.

 

Pay in Cash. Give the credit cards a rest this Christmas. Pay by cash, check or debit card. Or, as a last resort, only use credit cards for items included in the Christmas spending budget, and pay off amounts charged for Christmas gifts the following month, so as not to incur any additional finance charges.

 

Think Creatively. When it comes to gifts for Christmas, do some creative brainstorming on what you can give that won’t cost you money, or at least minimize costs.

What can you make or bake that would be meaningful? What service might you provide? One father, for example, gave a simple print out of coupons to his son for Christmas, entitling his son to forgo certain expected household chores, which Dad would do for him instead.

The son could use the coupons whenever he wanted and when the coupons had been used up, the son was expected to comply with the rest of his responsibilities.

 

Remember, the Best Things in Life Are Not Things. This tip follows closely with the “Think Creatively” concept.

Remember that more than “things,” people yearn for close relationships and the gift of your presence in their lives. So, for example, perhaps one gift to your family might be to schedule monthly family nights where everyone can hang out together and enjoy each other’s company.

In this scenario, each family member can take a turn making a decision regarding what the activity for the evening will be for the current month (like a game night, watch a movie together on the television, go out for ice cream, etc.)

 

It’s Okay to Cut Back. If your family goes to great lengths in celebrating Christmas, it might be tough to decide to cut back this year. But, understand that the family will survive if you do.

There will always be a “next” Christmas, and as financial conditions improve, you can move back into a more “regular” Christmas experience for your family.

Make the most of what you are able to do this year. Strive to keep family morale high, and place the focus on “the reason for the season.”

 

Think Through Other Holiday Expenses. There are a lot of other little Christmas season related expenses that typically aren’t considered.

So, this year, take some time to make a list of what those expenses are and how you can save by cutting back or doing things differently.

For example, perhaps you’re used to making Christmas dinner for your entire extended family and over the years you’ve provided all of the food and fixings.

To cut back on your expenses, have family members who will attend bring an appetizer, or provide other parts of the meal.

Maybe this year, you can cut back on your outside light displays to save some money on electricity. Buy a smaller Christmas tree.

You might choose to write handwritten notes instead of buying Christmas cards, or send Christmas emails instead of sending out Christmas cards.

The idea is to think through your Christmas-related expenses and make cuts wherever practical.

Source: Home Word

 

Editor’s Note: Jim Liebelt is Senior Editor of Publications for HomeWord.

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