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Related Reading
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 Frugal Luxuries by the Seasons: Celebrate the Holidays With Elegance and Simplicity on Any Income
Tracey McBride's first book, Frugal Luxuries, elevated frugal but elegant living to an art form. Now in this companion volume she shares all new ways to embellish cherished holidays and the timeless rhythms of the seasons. Here she shows how to use joined efforts, loving hands, and exciting ideas to create gracious touches and sumptuous celebrations, delicious meals, and wonderful seasonal treats. Learn how you can enrich your home with timeless pleasures and lighten the spirits of those you hold most dear — without exhausting your bank account.
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Most of the time, budgets and holiday shopping don't go together — not because we enjoy being in debt, but because we like to go all out for the holidays. In fact, according to Consolidated Credit Counseling Services, only one person in six actually budgets for spending. But why not change old habits this season and make a budget for your holiday shopping by following several simple steps.
• Make a Spending Plan
Make a list of everything you usually buy during the holidays and calculate the costs. You should be able to come up with a specific dollar amount to set as your limit. Remember that how much you spend doesn't measure how good of a person you are. Meaningful gifts can cost pennies if they come from the heart.
• Know Your Limits
Don't go crazy when holiday shopping just because you can. Make a list of all those who you plan to give gifts to and then assign a dollar amount to each person. This will make it easier when shopping and much more difficult to stray from your budget. Your holiday expenses should be paid off within three to four months following the holidays.
• Keep Track of Spending
Making a budget is the first step, but if you don't keep track of your spending, your budget will become useless. Write down all of your purchases to make sure you are staying within your budget.
• Use a List
We've all seen the people in stores shopping with their handy list. You may have even made fun of them. But these people are the smart ones. By using a shopping list, you will be more apt to avoid impulse buying — something that always adds up in the long run.
• Shop Early
Well, it's already December, but you still have time to complete this task. Don't wait until the week before Christmas or Hanukkah to do your shopping. Give yourself time to compare prices and find the best deals. Last-minute shoppers are very unlikely to save money.
• Educate Yourself as a Consumer
Don't rush through your holiday shopping just to get it over with — take your time. By doing so, you can compare prices and extend your funds much further. And make sure to think twice before you buy. Be sure that the recipient will definitely like what you are buying them.
• Use Cash
By keeping cash on hand, you won't be tempted to charge it every time. Only carrying cash will make overspending much more obvious to you. According to the Consolidated Credit Counseling Services, people will spend up to a third more when paying with credit instead of cash.
• Use Credit Sparingly
Carry no more than two, preferably low-rate, credit cards with you. Deduct all credit purchases from your checkbook so when the bill arrives, the money will be in your account to pay in full. Try to avoid department store cards which usually carry very high interest rates.
• Beware of Sales Pitches
Don't fall under the spell of holiday hype. Retail stores will do anything possible to get you into their stores, but most of the time, these pitches, although they sound great, are usually trouble. Just be aware of what you are getting into before you sign on the dotted line.
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On the Web
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Holiday Budget Planner
Great Gifts on the Web
Stick to Your Budget
Budget Living Magazine
Holiday Gift Directory
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Last Minute Gifts
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So, you're running out of time as the holidays approach and you still haven't found a gift for those not-so-close friends of yours? Here are some last minute, inexpensive ideas for anyone on your list.
• Money
Sure giving money is sometimes seen as slightly inappropriate. You usually don't want to just hand out cash unless it's to your doorman or babysitter. But how about giving a Certificate of Deposit or a savings bond instead. The great thing about these gifts is that they can eventually be worth more than you paid for them.
• Philanthropic Gifts
It's always nice to make a donation to a charity in the receiver's name. But the tricky thing about this gift is making sure the receiver is actually interested in your donating to the organization on his behalf.
• Subscriptions
A subscription to a magazine is a great gift that lasts all year long. Go to a bookstore and browse the tons of magazines and pick the right one for someone on your list. Tear out the subscription card and then wrap up the magazine for them.
• Food
Pick a food you know the recipient enjoys. You could always subscribe someone to the Fruit of the Month or Entree of the Month club, but these will tend to be a little more expensive than cookies or chocolates.
• Picture Perfect
Whether it's a photo of your family for your parents or a fun photo of you and your friends, everyone enjoys photographs. You could also go to a place like Kinko's and, in 24 hours, have your photos made into a calendar or ornament.
• Gift Baskets
Buying these pre-assembled can get really expensive, but who says you can't create your own gift basket? Depending on the receiver, you might want to make a movie-themed basket or a romantic basket for a couple you might know. |
