The holidays are quickly approaching and with a few weeks until Christmas, it is time to draft a plan for successful holiday spending! The National Retail Federation expects holiday spending to be almost 4% higher this year than last. They expect American consumers to spend an average of $935.58 during the holiday shopping season this year. That’s a lot of Barbies, Lego’s, ugly sweaters — and a lot of money.
Beyond the money, it’s a great time of year to show our family, our friends, and our charities that we love them.
But nobody loves a maxed out credit card, so here are the ABC’s of creating a plan for stress-free gift-giving this year!
ABCs of Successful Holiday Spending
1. ACT Now.
Don’t let another week pass you by. This weekend sit down and write a list of all the people and charities you want to buy for or donate to. This will help you eliminate last minute impulse buying. It also gives you some time to put thought behind the gifts.
2. BRING your kids into the loop!
Encourage them to make some shopping decisions! Change the whole flavor of your holiday by making it more about the giving than getting. Ask your kids to come up with a few fun ideas for the older relatives on the list. You might be surprised. Maybe they have a clever way to honor or serve grandpa or grandma instead of a gift.
3. CONSIDER the receiver’s spending habits!
Let’s say you are giving a gift to a person who really likes to save money. Don’t get them an extravagant gift, get them something simple or tell them how you bought it on sale … with a coupon! Trust us, they will enjoy the gift even more. On the other hand, if you know the person receiving the gift prefers extravagance or brand names you can go all out!
This season save yourself some stress and make a plan first. Go through the ABC’s of holiday shopping with your spouse so you can really enjoy the process of gift-giving.
Even Santa “makes a list and checks it twice.” We would love to hear any other ideas you have for successful Holiday spending – go ahead let us know below. Ho ho ho.
Merry Christmas to all.
Taylor & Megan