Six Ways to Avoid Holiday Stress on Your Pocketbook

The holidays are coming. Gift giving, relative kissing, card sending and credit card spending are about to commence. For many of us, the holidays add additional stress not just to our psyche but to our pocket books as well. If you find yourself saying, “This year will be different, I will not stress myself out by overspending.” Then, it’s probably time to put a plan into action on how to accomplish that goal.

Here are some very practical ideas for saving a couple of dollars and your sanity during the holidays:

· Group gifts – Never under estimate the power of numbers. Ask your siblings and extended family if there is one large gift everyone can pitch in to make their holiday extra special. Often times splitting the cost of a large basketball hoop for the driveway or a new flat screen TV between ten people ends up costing a lot less then spending $25 a person on individual gifts for a family of five.

· Frank conversation – For years I struggled with what to get relatives that seem to have EVERYTHING. Finally my brother in law admitted he never uses any of the gifts he received and he would rather I just focus my time and attention on my adorable nephew. He finds more joy watching his son open gifts then receiving another tie, screwdriver set or pair of socks. Talk openly with those adult relatives and ask them if they even want a gift this year. You might be surprised to hear the answer!

· Potluck mentality – Aside from the gifts, another huge outlay of cash can sometimes be a lavish meal for an army of relatives. Keep in mind that everyone wants to help and participate. Assign tasks, ask someone to purchase the wine or make a dish. The aunt that arranges flowers in her spare time would LOVE to adorn the table with something really special.

· Shop the sales –Shopping very early and shopping very late in the season offer great retail bargains. You should never pay for anything that isn’t on sale for the holidays! Why? Because, it will be on sale….somewhere. Retailers often overbuy in anticipation of your spending dollar. They will significantly discount items if they don’t feel they are moving quickly enough. Just wait for the sale.

· Sentimental Value – The most memorable and precious gifts are those with sentimental value. Clean out your grandmother’s old china that has been collecting dust in the basement and give each grandchild a piece. They will treasure this heirloom! Putting together old photographs from a childhood vacation into a simple but nice photo album will be cherished for years to come. Even current photographs of the grandkids put into a calendar or a storybook from popular photo websites like www.shutterfly.com or www.snapfish.com are simple, easy and inexpensive.

· Don’t go into debt - Probably the most important rule for the holidays is to stay in charge of your debt. If you don’t have the cash, right now, don’t buy it. Look at alternative, less expensive gifts, but most importantly, don’t charge it! This is a one day experience, not a six month investment. If you must use a credit card, keep it down to a manageable amount that can be paid off in the next 30 days without interest. Adding interest will negate any savings you made on sales and will continue your holiday stress into the spring.

Start by focusing on how you want the celebration to feel . We all come to December celebrating something different. Let your reason for the season come out in every single bit of your preparation. Ask yourself if what you are spending a good chunk of your time and cash on is going to allow the true meaning of the season to come through. Prioritize by thinking outside the box and putting why the gifts are given ahead of the monetary value and you will create a special holiday for your family and less stress for yourself.

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