If you have children that are dreaming of Santa and other holiday toys, now is a good time to prioritize your spending.
When you’re out there shopping, choose wisely. You don’t need to make the retailers rich. Pick one fabulous toy your child really wants, and then some smaller items. For older children, usually one important gift is all they want. Encourage your kids to learn what the holidays are all about by using their allowance to buy a toy for a less fortunate child. It’s a good thing to teach philanthropy to teenagers because too often, they only learn how to receive things. You can encourage them to give to a charity of their choosing.
One way to budget for all of your holiday needs is to create a spending plan for all of your gifts and holiday events. Once you know how much you will be spending take the money out of the bank and separate it according to your plan by placing the amounts into individually labeled envelopes. Now when you go shopping for “Jimmy” or “Suzy” or that holiday party you simply take the envelope designated for that purchase to the store. Once you finish using the money in their envelope, you’re done with gift giving.
With this method, there are no credit card bills that come in January! That is a great way to smile. Starting the new year fresh and debt-free, and knowing you’ve given back to your friends, family and community.
When it comes down to it, stuff is just stuff. It doesn’t fill the heart, and it can only offer short-lived satisfaction. There are always others who have less and are in need, and your community is a great place to give back something more than stuff.