The Christmas season has arrived again, and along with all of that holiday spirit comes it’s ever present shadow—holiday stress. There’s the gift list, and long lines at the stores, and the decorating, and the parties… it can all be overwhelming! Just like any big task however, with a little bit of planning and some preparation ahead of time along with keeping things simple you can make this year your best yet.
To help you avoid some of the holiday stress this year, we put our FFEF heads together to give you some tips that will help you stay in control of your money and time during the holidays.
1. Create a holiday budget and stick to it.
Identify just how much you have to spend for the holidays. This will take careful analysis on your part. Your FFEF counselor can help you analyze your budget to see what you might be able to allot to holiday spending. It may not be very much, but that’s okay. Once you’ve decided just what you have available, it will be easier to resist the temptation to spend more than you can afford.
One of the best tips for holiday spending is to start saving in January. If you add a little to your gift giving envelope every month it won’t be such a financial strain at the end of the year. Spreading the cost over a 12 month period will make a big difference in your financial well-being at the end of the year and help you avoid buying Christmas presents on credit which you end up paying for for months after.
2. Decide on the people you most want to remember this holiday season.
Once you’ve created your holiday budget, decide how much you have to spend on gifts. Remember that gifts are not the only expense during the holidays. Special meals, parties, decorations, etc. must all come out of your holiday budget. Decide what are must-haves and what you can do without this year.
You may not be able to buy gifts for everyone on your list this season. That’s okay too. Bake cookies that you deliver in person, make holiday cards from items you have on hand, or simply make a phone call. You can even tell people that you are working to get your finances where they should be, but you wanted to let each person know how much he or she means to you so you are stopping by or calling to do just that. People will appreciate knowing that you are thinking of them more than a physical gift. Once you’ve made the decision not to buy, sticking to it will be easier. How to celebrate without spending a fortune.
3. Make a shopping plan before you go.
Don’t shop aimlessly. Decide beforehand which stores you will visit and how long you will spend at each store. Be realistic and allow for travel, weather, and holiday crowds. Follow your plan as closely as possible so you don’t get sidetracked, but be flexible enough to enjoy your shopping experience. It should be more enjoyable to give the gift than it is to receive it.
With the extensive online shopping options available you can also do some pre-shopping for many of those gifts on your list. Even if you don’t want to purchase online, you can still get an idea of the actual prices of the items so you don’t overspend on a ‘deal’ in the store.
4. Take care of yourself.
Don’t get so caught up in staying organized and getting everything done that you forget to enjoy the season. Maintain your exercise routine and pay attention to what you’re eating. If you find yourself feeling stressed or frustrated, take a break and do something that helps you relax. Go for a walk around the neighborhood to see the holiday decorations, meditate by the fire or in a chair by the window. The holidays should be a time for renewing good feelings. Read about the 15 ways to be a better you.
5. Focus on getting work done so you can enjoy the holidays.
Before you begin each workday, take 10 minutes to plan how you will spend your day. Review your most important tasks and appointments for the day. Be realistic with your time and prioritize your projects doing the most important first. Taking care of your “to do” list in this way will make it easier for you to leave work on time so you can enjoy holiday evenings and weekends with family and friends.
There are also many things that can be taken care of throughout the year or early in the month to reduce the workload during December. Pay your bills ahead of time if you can so that you don’t have to worry about due dates. Decorate early and un-decorate late—who says you can’t put the lights up in October or take the tree down at the end of January. Plan to put in some overtime in early November to get the inbox cleaned out and manageable so that December will have a lighter workload. A little overtime pay if you can get it will also help with the holiday budget.
6. Plan your goals for the holiday season.
Determine what your goals are for this holiday season. Do they involve spending time with family and friends? Are there events you want to be sure you don’t miss? Is there something you want to do every holiday but never seem to get to it? Do you always mail cards or gifts later than you’d hoped?
First, make a list of the goals you’d like to meet this year for the holidays. Second, number each goal in order of importance to you. Now rewrite the list with your goals in the numbered order. Put the list in a place where you can refer to it often as you make decisions about how to spend your time. You’ll be surprised how much easier it will be to make your holiday plans. 7. Take 20 minutes at the start of each week to put your plan in place.
7. Take 20 minutes at the beginning of each week to put your plan in place.
Take 20 minutes each Sunday to sit down in a quiet place away from interruptions to plan how you will spend your personal time in the upcoming week. Review your list of holiday goals and plan your time accordingly. It will quickly become evident what you have time for and what will have to be eliminated. By having the most important things identified, you’ll know what you don’t want to miss out on. Planning ahead will also help you be realistic about what you can get done and what you won’t have time for. Planning to do more than you have time for is a big contributor to holiday stress.
8. Keep your holiday goals in a place you can carry with you.
Carry a notebook or organizer that has your budget, gift list, holiday goals, and weekly schedule in it. Having everything in a place that you can carry easily makes it easier to stick with your plans and to remember the decisions you have made. Keep the notebook or organizer with you all the time. There’s nothing worse than making a purchase or a commitment and then getting home to find it wasn’t the purchase you had planned for or the commitment was made for time you had set aside to accomplish something else. Here are some great goal setting for success plans to help you.
9. Learn to say “No” nicely.
Ask yourself, “What is the wisest and best use of my time today?” Don’t overload yourself with too many commitments at one time. Keep the commitments you make, but learn to say “No” nicely to commitments that are not high on your holiday goals list so you can focus your time and energy on the things you really value this holiday season.
It’s important to your own personal health and finances if you limit last minute requests or needs during the holidays to only those things that fit your time and budget. In most cases your “No” will give someone else more appropriate a chance to say “Yes”. You can say anything from “I’m sorry that doesn’t work for me” to “I already have plans that day I can’t fit anything more in”. You don’t need to over explain yourself, “no” is a complete sentence.
10. Keep it simple.
If entertaining is an important part of Christmas for you, plan to keep it simple. There are some great party ideas to help you here. Make a timeline and a list of tasks that must be done to make your party a success. Delegate some of the task to others. The food doesn’t have to be fancy and there’s no need to spend money on decorations. A fire in the fireplace or fresh berries and evergreens will set the mood.
Remember, it’s the people that make the party. If you have a family, involve them all in the planning and preparation. Children love to help. Let guests bring a favorite hors d’oeuvres. Forget trying to make everything perfect and just concentrate on helping everyone have fun.
Hopefully with a little planning, and keeping a firm hand on your budget you will be able to make this a wonderful and debt-free holiday! From all of us at the Family Financial Education Foundation, we wish you a safe holiday season, and a successful New Year in 2018!