Christmas packs a lot of love- or displays of it –into a small section of the year. This concentration means we tend to get a lot more smiling faces (ideally), more gifts to go round, and yes, the stress of working out exactly how to be happy during the season without sacrificing future financial stability.
Here are four important steps you should take if you want to have a merry Christmas, without falling into dire straits, financially speaking.
1. Give small gifts with a large heart
Your gifts cannot fully express your love for the people you’re giving them to. Having this in mind should put things in proper perspective, and help you make a decision on what to give your loved ones without having to deal with the pressure of “putting all you have into it”. Instead, place a greater emphasis on speaking warm words and spending valuable time with them. These could magnify the worth of gifts that come with them.
2. Have a giving and spending plan
Have a plan ready before things start to heat up, and the demands of the season (real and imagined) force you to spend more than would be healthy for your pocket. Get a budget in place, allocate your resources with the near future in view, and stick to your plan as much as possible. It might feel a bit restrictive for Christmas, but if you remain faithful to it, you’ll find that it does you a lot of good.
3. Consider spending the holidays at home
You don’t have to head off to the village or go on expensive vacations every Christmas. Be sure to weigh the options. Is it time to do things differently- enjoy a staycation instead? The decision you take should depend on an evaluation of your resources, as against the needs of the future. In the end, taking time off to be with family in a familiar environment has its own benefits, which moving around may not bring about.
4. Buy from less expensive stores- if they’re cheaper than homemade ones.
It costs more to make some things than to buy them; other items are cheaper when they’re created at home. Will you have to spend more money on baking a cake than on ordering it? Is it more affordable to buy your smartphone gift from an online store, or a brick and mortar shop? Whatever the best way is, explore the alternatives, and act based on your findings.
If you’re ever tempted to be a little extravagant with your displays of love at Christmas, consider what your financial situation would look like after the season passes- and make the move to get yourself in the best position possible.