Last updated on January 24th, 2024 at 08:54 pm
With the holidays just around corner, many of us are wondering. “How do I minimize holiday spending?” and “How do I maximizing holiday fun?” Staying on budget doesn’t mean you can’t enjoy the holidays. Here are 6 ways to both minimize holiday spending while maximizing holiday fun.
Minimize Holiday Spending
1. Set a Budget
In order to start the holiday season in the right direction, it is essential to create a budget. Use your regular monthly budget, but during the months leading up to the holidays adjust it for your additional expenses. These additional expenses can include: travel costs, holiday décor, presents, charitable donations, holiday activities, additional food costs etc. Don’t forget to add additional clothing costs with the cooler weather during the following months. Once you have adjusted your expenses, it is important to determine where the additional funds are coming from. Having you been saving all year? Do you plan on taking it out of your regular savings? Will you use your credit card? Do you get a big holiday bonus? This budget will help relieve some holiday stress and will help you determine your gift budget before you hit up the great holiday sales.
2. Create a List Before You Leave the House to Go Shopping
Once you have decided on budget for presents, your next step is to make a list before you leave the house. I normally make two separate lists: one for the stores I need to go to and one for what I need to get at each store. Your lists can be as vague or specific as you prefer. Lists are important to prevent overspending and stress. We have all been there; overwhelmed by the huge holiday store displays, excessive traffic, and no clue what you plan on buying, only to get home with half the items you needed. This year do yourself a favor and plan ahead. Planning ahead will ensure you get everything on your list without going over budget.
3. Use the 4 Gift Rule: Want, Need, Wear, & Read
This year instead of a huge stack of gifts under the tree, focus on quality not quantity. We use the 4 gift rule for our children. Something they want, something they need, something to wear, and something to read. For example, an idea for an infant would be a toy, a soft blanket, a pair of pajamas, and a good book. Whereas an example for a teenager may be a cell phone, a pair of winter boots, a sweater and a book about their favorite celebrity. By minimizing spending on presents, you will be able to focus more time on family, giving back, and creating memories.
Maximizing Holiday Fun
1. Set the Mood
The holiday fun begins with putting up your holiday décor. Remember to let every member of the family join in on decorating. Once you have everything set up, continue to set the mood in other special ways throughout the season. This can include writing letters to Santa and creating a countdown calendar. A countdown calendar can be as simple as numbers on a paper chain or as complex as a handmade felt and Velcro calendar. You can also create a fun garland for the Christmas tree with string, a needle, and popcorn. Most importantly, create a fun holiday playlist. You can add song from your child’s favorite movie such as Frozen or Moana, your favorite Christmas classics, or holiday music from your favorite band. Yes, even U2, Led Zeppelin, Tim McGraw, and Katy Perry have holiday albums. One of my personal favorites is Pentatonix. The only song that would put my twin girls to sleep for the first year of their life was Hallelujah.
2. Activities as a Family
The next step in maximizing the holiday fun is enjoying activities as a family. The best memories I have as a child are decorating cookies with my mom and driving around on Christmas Eve looking for the best lights. Even if you are not looking for a tree, a great family fun activity is going to a tree farm. Many tree farms offer hayrides, sleigh rides, and other family-friendly activities (Santa may even show up!). In this technological age, it is also important to remember to shut off your devices and to be truly “present” with your family. Make some hot cocoa, put in your favorite holiday movie, and play some board games.
3. Give Back
Most importantly, the holiday season is about giving back. Teach your children to make others’ holidays merry and bright. Bring your children to the store and give them money to buy a toy for a child who needs one this season. Drop it off at a local Toys for Tots or Big Brothers Big Sisters of America club and explain to them the importance of giving back. Once they realize that there are others who are less fortunate, they will feel grateful for all that they have. Some other fun ways to give back include bell-ringing for the Salvation army, collecting canned goods for your local food bank, baking cookies for your local police or firefighters, bringing blankets, food, or toys to an animal shelter, sending cards and supplies to soldiers overseas, or volunteer at a homeless shelter, or senior living community.
Making sure you have fun during the holidays doesn’t mean you will have to end up broke. Follow these easy tips for minimizing holiday spending and your are guaranteed to be able to enjoy the season without the stress of paying for it all!
