Rethinking Gift Giving
Posted on Oct 11, 2008 under xn--zqqs84h3is.com | edit
That time of year is just around the corner, the holidays. It is the time of year that seems to be one of the most stressful times on our pocket books, families and relationships. The majority of this stress comes from overspending on the gifts we give to those we love and to those we don’t.
By following the steps below you can reduce your stress and in some cases start the New Year off better financially then you did last year.
The first thing you need to do is revise your list. Who are you buying gifts for and why? How can you minimize the gifts you buy? One way is to start a grab bag, whether for work, family or friends. Another is to cut out the adults or go for family gifts.
Second you need to set a limit, put together a gift budget and stick to it. As long as you don’t wait to the last minute and basically shop all year long you can easily stay within your budget. In the fall toy stores tend to have buy one get one free on board games, this is a great family gift.
Third you need to really look at those on your list and give thought to what it is they really could use. Many times the people in our lives don’t need more stuff, what they need is a break, a kind word or a helping hand. Giving a gift or service is one of the best gifts I have ever received and given. Most times than not price to give a gift of service is minimal, yet no amount of money can buy the joy and appreciation you give and get. See below for what others have given to those they love.
Lastly, whatever gifts you buy you MUST NOT use credit! YOU MUST PAY CASH.
Statistics show that those using credit cards to pay for Christmas usually don’t pay them off until mid-summer of the next year. I don’t think this is what they mean by “Christmas in July.” Last year consumer Christmas spending was more than $300 billion dollars, according to the U.S. Commerce department.
I must go back to the information that is shared in our Transforming Debt Into Wealth® workshops, from The Golden Ghetto: The Psychology of Affluence by Jessie H. O’Neill
“Per capita consumption in the United States has increased 45 percent in the past twenty years.”
“During the same period, quality of life as measured by the index of social health has decreased by roughly the same percentage.”
We are getting more “stuff” yet we are not as happy. Most of this is caused by how we are getting this stuff or giving it, on credit. Hopefully you still have time this year, but if not make the commitment to yourself to budget for gifts so that you are putting the money away each month and can pay cash when the time comes.
Gifts of Service…The following people have committed themselves to a debt elimination plan and to living within their means, without giving up the gift of giving during the holiday time and all year long.
“Last year for Christmas we gave my sister and brother-in-law the gift of watching our nieces for the summer. This not only saved them over $1,800, but the real gift was the bonding we did with our wonderful nieces.”
Zoe T., Round Lake, IL
“I bought over 5 gift certificates for under $50 and some of them were for $25 at local restaurants. Go to www.restaurants.com, it is awesome.” Diane C.,Waukegan, IL
“Last Father’s Day I gave my dad 3 months of free car washes and for Christmas I gave my brother and his wife one Friday a month to be together while I watch the boys, for a whole year.” Neal K., Chicago, IL