How to Avoid Overspending On Christmas Presents for Family

6 January, 2018

Christmas is a special time of year and you want to remember friends and family with special gifts. Unfortunately, if you have a large family it can be expensive to lavish your loved ones with costly presents. If money is tight, it’s important to choose presents that won’t break the budget and add to your debt burden for the upcoming year. Here are some suggestions for choosing family gifts for Christmas without overspending.

1. Plan your list before you hit the shopping malls. The most important rule for not overspending is to plan your purchases before you leave home. Determine how much you can afford to spend and make a list of what you’ll buy for each family member. Resolve to stick to the list. If you leave it open ended, you’ll inevitably make additional impulse purchases with the justification that “It looks so much like (whoever), I just had to buy it.”

2. Do comparison shopping before you go. Save sales brochures for all of the local stores where you shop. Spend time looking through them and doing some comparison shopping. Write down who has the best deals on the items you want to purchase. Do cost comparisons on the internet. Print out copies of the best prices you can find on items you plan to purchase for family gifts for Christmas. Take these with you to your local stores and ask if they can give you a similar price. Some stores are willing to match their competitor’s prices.

3. Avoid using credit cards. One of the easiest ways to avoid the burden of being in debt after Christmas is to not to spend what you don’t have. Credit cards increase the temptation to buy more than you can comfortably afford. Instead of bringing out a credit card to buy family gifts for Christmas, force yourself to use only cash. If you have to count out each bill to pay for it, you’re less likely to splurge on lavish and extraneous items.

4. Give the gift of time. When it comes to family gifts for Christmas, one of the most special presents you can give is time. Instead of buying an expensive gift, give handmade certificates for services such as a home cooked gourmet meal, a complete house cleaning, a batch of chocolate chip cookies, free car washes, or a day at the park. These gifts are often more meaningful than material presents.

5. Give something handmade. Reassess your talents and put them to work to create family gifts for Christmas. Can you sew, make jewelry, paint, draw, or use a camera like a pro? With a little imagination, you can make gifts using any of these techniques. If you write, why not compose a personalized poem for someone in your family and frame it? This type of gift will be remembered long after the holidays are over. Do you cook, make soap, jams, or candy? These are all skills that are perfect for creating family gifts for Christmas. Sewing, knitting, and crocheting are other ways to turn your talents into Christmas gifts.

6. Lastly, remember the real meaning of Christmas. It isn’t about the gifts but instead, it’s all about the spirit of joy, happiness, appreciating family members, celebrating, and being together. That’s something you can’t buy.

Source: Written By Kristie Leong M.D http://www.ehow.com

If you have any questions, need help with your budget, or need to get your personal finances under control, please don’t hesitate to call our office. Don’t struggle on your own — confidential personal financial coaching and counseling services are available.

SMART MONEY TIPS are published to provide practical personal financial tips relating to budgeting, saving, spending, debt, credit, financial wellness, planning for the future, and other personal finance topics. For comments or questions, please e-mail us at at Linda@financialfreedomcoaching.com. We are located in the Tampa Bay, Florida area and are dedicated to educating you to take control of your personal finances and financial future. Services include confidential personal financial coaching and mentoring, personal financial counseling, and financial education through financial literacy seminars. Linda A. Stortz is a CPA and financial literacy advocate, having earned the Accredited Financial Counselor and Certified Credit Counselor credentials. For more tips, please go to http://www.financialfreedomcoaching.com.

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