Whether your family is used to giving extravagant gifts or a single present under the tree, this year, more than ever, the holidays will be about enjoying the holiday season without blowing the budget. Here are some ideas that will help your family save money without skimping on the true holiday spirit of the season:
* Set ground rules – If you haven’t already discussed with your kids what the recession is and what it means for you as a family, now is the time to do so. Most kids will understand that while you still care about them and want to give them gifts, you’re not in a financial position to buy everything on their list.
* Plan your gifts in advance – It is important to set a budget, so you know what you are going to spend before you go shopping. The ease of swiping a credit card can leave many people surprised when they get the bill at the end of the month. Don’t indulge and then find yourself swimming skillfully after Christmas. The consequences are not worth it and the stress of debt can lead to excessive arguments and conflict. Make a list of who you need to shop for and what you plan to buy from them. Write down the price and check online to make sure you get the best deal on the item.
* Create lasting memories – After a few weeks, toys can be lost, broken and forgotten; the memories, however, will last a lifetime. This year strive to create lasting memories with your family that your children will cherish for years to come. Cut down the Christmas tree together, bake cookies and deliver them to your friends, cook a delicious holiday meal together as a family, sing Christmas carols with your neighbors, or plan a family party and shop for party supplies together. The true spirit of Christmas is not about things, but about creating meaningful experiences.
* Opt for homemade – This year it might be fun to implement a rule of homemade gifts: Whether you frame a picture, make a painting, sew something or create something out of wood, homemade items are sentimental and can also be inexpensive. Tell your kids that instead of buying you something, you’d rather have something special made for you.
* Service – Many children get lost in the gift aspect of Christmas when in reality we should be focusing on others. As a family, volunteer at a local soup kitchen or “adopt a family” who may be struggling and bring them food or gifts.