How to Spend Less This Christmas

If there were ever an expensive holiday, Christmas takes the prize. Between decorations, gifts and entertaining, Christmas spending can quickly spiral out of control. But with families watching their budgets more carefully, spending less over the holidays is more a matter of priorities and planning than being a Scrooge.

Scale Back For the Kids

If your child wants a new bike and games for the entertainment system, opt for a bike and a single game rather than three or four. Or better yet, set a limit on the number of gifts you purchase for each child to keep things equitable, but within bounds. Many feel that parents should give one significant gift and Santa should bring another. A few smaller gifts round out the Christmas tree collection.

Make Stocking Stuffers

Stocking stuffers can easily become expensive. A new movie combined with a new CD, a game, a few favorite character toys and a gift card can make over $100 worth of goodies – before you even open the “real” gifts. Instead of filling the stockings with expensive items, make cookies or candies to put inside or make it a point to purchase true stocking stuffers that cost almost nothing, but are fun to open such as a few toy cars for less than $5 and a large package of a favorite treat. Fruit is always a great way to fill out a stocking with healthy options as well.

Set Spending Limits

If you are buying gifts for many people this holiday, set limits on how much is reasonable per person. Stay under the limit by focusing on finding meaningful gifts rather than flashy items the receiver might not need or have much use for. A themed gift is always nice as well – try a favorite movie, deluxe popcorn and specialty chocolates for one family member and a new, high quality coffee mug and a sampling of gourmet coffees for another. If you can avoid gift cards, you won’t have to advertise how much you spent on each gift – in this fashion, it is truly the thought that counts.

Give Family Gifts

For families in your circle, buy a moderate gift for any children, and then buy a family gift rather than a gift for each individual. A family membership to a local attraction or something that can be shared in the household, such as a movie collection or tickets to a show or sporting event can be a lot of fun for the entire family, and in many cases cost less than the combined cost of many presents.

Go Pot-Luck

For any dinners and celebrations you might be considering, skip the caterers and opt for pot-luck. Unless you’re throwing a black-tie affair, your guests won’t mind a bit bringing their own item to the Christmas party for the block or the company get-to-gether. These are more about fun and conversation, and a home-cooked meal might be tastier than what some caterers are offering.

Easy Step By Step

• Reduce your spending by buying less for your children – they don’t need tons to have fun, anyway.
• Avoid the traps of expensive stocking stuffers.
• Set spending limits for every person on your list.
• Give family presents rather than individual ones.
• Encourage sharing at larger celebrations.

Warnings, Advice, and Suggestions

A good rule of thumb for gift giving is to stick with consumables. If you can eat it, drink it or spend it, it’s likely a good gift. A collection of gourmet food items or a nice bottle of wine is also good to have on hand for any surprise gifts that you need to make magically appear.

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