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When emotions are involved in spending, it’s easy to overspend. Here’s how one writer intends to get control of Christmas shopping in 2024.
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In terms of the holidays, this year was an odd one for me. While I normally begin collecting wish lists and shopping in August, I didn’t get around to it until October. And then, because I went in with no clear plan, I spent far more money than I intended — $2,400, to be precise. To put that number in perspective, the average American was expected to spend $648 on Christmas gifts in 2023. Honestly, I’m pretty frustrated with myself.
Christmas 2023
Like many people, I’m wild about my family. I still can’t believe my sons are mine, adore my daughters-in-law, and melt every time I’m around my granddaughters. I also tend to idealize special occasions. I’ve bought into the belief that a “real” Christmas should look like a Hallmark movie. I can’t cook worth a darn, so I try to dazzle my loved ones with great gifts.
I want every member of my family to look back on the latest holiday as “the best ever.” It’s not only unrealistic, it’s a set-up for disappointment. Someone isn’t going to think it’s the best holiday ever, and I’m going to feel as if I’ve failed.
Each and every year, my husband encourages me to be sensible and asks me to take it easy on the checking account. I agree every year, then go on to do my own thing. I’m nothing if not predictable.
You know that creepy feeling you can’t quite shake when you’ve done something foolish? That’s what I was left with this year. After spending so much time and energy making the interior of our home look like a gingerbread house exploded and spending a wad of cash making sure everyone received the gifts they wanted, I felt ridiculous. My family and friends would be perfectly happy hanging out, playing games, eating pie, and just talking. The ridiculous expectations are mine.
It’s been over three weeks since Christmas, and I’m still kicking myself for not making better decisions. I’ve also come up with a plan to do Christmas 2024 differently. Here’s how.
A new budget
I’m budgeting $1,800 for Christmas. That’s a 25% cut from this year, but if I’m a smart shopper, not a soul will notice. One reason I overspend is that I tend to keep a rough budget in my head. I roughly know how much I want to spend, but then life gets busy, and I find myself playing catch-up.
I know a few people who love nothing more than last-minute shopping, walking through a mall with their hands wrapped around a cup of hot coffee, and listening to Christmas music. I think that sounds great, but it doesn’t work for me. If I want my Christmas budget to work for my personal finances, I’m going to have to approach it with the discipline of an army general.
A shopping list
Normally, I don’t make a list until late summer or early fall. This year, it’s while the snow blows. The list is conveniently located on my phone and includes everyone I want to buy for. As I buy a gift, I’ll add it under the recipient’s name and include how much I spent.
A list is the only way I’m going to keep things straight, especially since I’m starting so early this year.
A Christmas account
We have separate savings accounts for just about everything, from saving for a new car to veterinarian fees. I changed the account we use least often over to a Christmas account. Since I now know how much I plan to spend, I know how much I need to put away into that account each month.
Coupons and promo codes
The thing about speed shopping is that I rarely do the homework required to take advantage of discounts. This year, I’m specifically looking for coupons and promo codes to save money. I know the types of gifts my sons, daughters-in-law, and husband enjoy. Keeping an eye out for sales at their favorite stores should be easy.
The little girls are a bit more challenging. Because they’re so young, their interests change throughout the year. I’ll still count on discounts, but I plan to purchase their gifts after I purchase them for the adults.
I’ve always had a thing about not giving gift cards. I’m not sure why that is, other than wanting people to open a box with a “real present” in it. I have decided that it’s one of the goofiest self-imposed rules I’ve ever adopted.
No more underestimating the people I love
The truth is, no one in my life would be bent out of shape by receiving fewer gifts. The “perfect Christmas” fantasy is mine, not theirs. I’m determined that this year, I’m going to take a healthier, more balanced approach to the holidays.
I’ll let you know how it goes.
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