Plan ahead to stay on budget
Holidays are a time for family gatherings, gift exchanges and big meals. But for some families, the holidays can be a time of stress when it comes to house guests, traveling and budgeting for everything. Planning ahead for things such as taking time off from work, menu planning, guest accommodations and travel planning can help ease the stress and strain when the holidays roll around.
The following are some tips to help ease things during the holiday season.
Make a list and check it twice. Are you buying gifts for everyone or doing a gift exchange? A gift exchange or drawing names between family members is an easy way to ease the burden of having to shop for everyone. It can also become a new family tradition and there are several fun games using a gift exchange. Family gatherings are about spending time with one another, so make a new tradition and have fun with a gift swap.
How much can you afford to spend? Money can be set aside throughout the year to prepare for things such as gifts and food. Look at the monthly budget to see where you can cut back. Dedicate a savings account to have that money set aside throughout the year.
Create a budget ahead of time and decide where money needs to be spent. Gifts, food, drink, travel, decorations. Even the cost of sending out Christmas card and postage for gifts that need to be shipped should be factored into the budget.
If you are buying gifts for everyone in the household, make a list and stick to it. Who is getting what and what is the maximum amount you will be spending on each person? For extended family, handmade gifts such as cookies, breads, ornaments or family photos are a good option. Gift cards are an easy way to stay on budget and make sure you are not giving an unwanted gift.
Set expectations early in the season if you know the budget will be tight. Making sure that everyone in the family, children included, know the expectations and how to navigate a season where there won’t be all the extras that might be expected.
Stay on budget. Keep a list of all the things that are your normal financial obligations and when you feel tempted to overspend, remind yourself of those obligations. Even if you see something on sale, don’t be tempted to purchase it if it puts a strain on your regular financial obligations.
Keep track of spending. Use cash whenever possible. Using the envelope system, assign an envelope to a family members name and the amount that will be spent. When that money is gone, it is gone. Credit cards are an easy way to overspend due to the convenience, but don’t put yourself in a financial bind when the season is over and the credit card bill is due.
Get creative by giving some out-of-the ordinary gifts. Handmade certificates for free babysitting, house cleaning, dog walking, lawn mowing, etc. If you are crafty, use your talents to make something such as a holiday wreath, wood-working projects, bead work, knitting, or any homemade baked goods or jams and jellies.
Make the holidays special by adding cheer where you can.Play holiday music in the car and the house. Drive around town and enjoy the lights, do a scavenger hunt, make holiday goodies with friends and family. Go caroling, adopt a senior citizen for the holidays or adopt a name from the local angel-tree. Read holiday books and watch holiday movies in holiday pajamas. Bring back some traditions like making paper chains for decoration or stringing popcorn.
Shop as early as you can. If you find food items on sale through-out the year that will keep in the freezer or is shelf stable, stock up when you find those bargains. Getting in the habit of thinking ahead and shopping year-round for those items will keep you from having to spend lots of dollars all at once. Holiday décor and wrapping paper are always at a deep discount after Christmas.
Holiday cooking stress. Pre-plan the list and divide and conquer on who is bringing what and who will be helping cook during the holidays as well as shopping for food items. Time management when it comes to cooking on the big day and thinking ahead for oven and kitchen space. Utilize the younger generation to help with preparation of easier tasks such as preparing the relish tray, peeling potatoes, and setting the table.
Buffet style eating and paper plates may not be the most glamorous, but spending time with family and not worrying about the small details is what is important this time of year. Cleaning up at the end of the day can be another way to spend quality time by placing family members in charge of hand washing, rinsing and drying dishes.
Take some of the stress out of the holidays by planning ahead, creating lists, setting budgets and thinking about what is really important. Create new family memories and traditions by thinking outside the box and taking in the moment.
Brian is a 2022 graduate from Bethel University with a degree in Business Administration.
