- Set some expectations
- Setting expectations means that you need to be realistic about your finances and what you can afford to spend to accomplish your goals. You’ve heard it before: it’s the thought that counts. Think about how to use your money wisely in a way that you can have the greatest return.
- Set your limits
- A budget of X dollars for each of your kids, Y amount for each of their spouses, and Z amount for each grandchild. Solicit suggestions from other family members and stay within your budget for each recipient.
- Get organized
- Establish your list of recipients and the amount of money you can afford to spend on each person.
- Resist the urge to splurge
- Get creative
- A nice moderately-priced bottle of wine, a framed drawing that Timmy painted in Kindergarten, or a double batch of your fantastic snickerdoodle cookies would surely bring a smile to most loved ones’ faces. As an alternative, some other type of “sweat equity” gift can mean just as much as something from a department store. This might include a hand-made certificate for free babysitting or cat-sitting services, yard work, and similar tasks that might ease another’s burden. Don’t you think Uncle Carl would prefer a home-cooked dinner prepared by you over a box of candy or another pair of black socks?
- Tally up all the costs
- If you need to travel this holiday season, take that into account as you make your budget.
- Suggest Secret Santa
- Secret Santa is a great way to save money for a large gathering of friends and/or family.
Set your expectations and your budget, get creative, don’t overdo it, and be merry.
