Don’t make the holidays financially painful! No, I’m not talking about staying out of range of pepper-spraying fanatics on Black Friday. If you’re reading this, you’ve survived that. I’m talking about surviving the gift-giving folly that often follows you into January, February, even March. Being unprepared or undisciplined in spending can take away from the simple joys that come during the holiday season. What can you do to keep your budget on track and enjoy the your loved ones more? Let me suggest a few gifts that could be worth more to the recipient than anything you could purchase. Three tips compliments of Andrew Pryor of Sound Mind Investing:
J First, consider giving a gift of service. You could give coupons for running errands, shopping, yard and house work, car washes, and the like. Or perhaps someone needs help with a home remodeling project that involves a little electrical work or plumbing. You get the idea. But remember, gifts of service require follow-through. It's one thing to give the gift; it's even more important to fulfill the gift with a pleasant attitude.
J On a similar note, you could make a gift for someone. Perhaps a well-composed photograph of family, children, or a special occasion. Use your skills to bake some bread or cookies or some other kind of treat that is a crowd pleaser within your family. Anyone can make cookies, but only you can still make chocolate chip cookies the way great grandma did.
J Lastly, may I suggest giving the gift of time together? Similar to coupons for gifts of service, you can give a coupon for a movie followed by dinner (so you can dissect the flick), or maybe a bowling, golfing, or shopping outing together. These are great for one-on-one time with children. It's the time you spend together — the bonding part — that's really the gift. And it's something you'll both remember.
J One from Matt: set aside a certain amount in your savings each month for December 2012, so when it gets here, you will have your cash set aside. And cash will not follow you into spring like credit.
So this holiday season, rather than blowing your budget on forgettable gifts, give something more valuable, YOU! (BTW, this is your holiday gift from me. See, it works! J Matt)