Budgeting for the holidays
- Melinda Hill, OSU Extension Wayne County
- October 31, 2021
- 925
This October would have marked my grandmother’s 100th birthday, and while she is no longer with us, there is not a day that goes by that I don’t cherish some of her teachings and the wisdom she shared. One of my greatest joys in life was to know my grandparents as an adult and glean from their experiences as I navigated some challenges early in life. Please take time today to share with your extended family members what they mean to you and really listen to their thoughts.
One of the things Gran taught me was to be very mindful with spending. Whether it was a trip to the grocery, a restaurant or a special shopping trip, we were always comparing prices, looking for the best buy for the money we had to spend.
As the holidays approach, I think some of the following tips might be appropriate for us to consider so we can enjoy the events and not be stressed out with debt in January. As you read through, take note of what you can not only practice yourself, but also share with other family members to utilize.
—Use a budget: Sometimes it’s so easy to get caught up in the season and forget the limits of our budget. Thus, when I make my way from one end of the store to the other, I find “extra” items in the cart that weren’t on my list, those little extras that appeal to my emotions at the end of a day.
—Use a list: This will help you stick to your budget and not pick up extra items. On a separate page, keep a list of several gift suggestions for each person and your dollar limit. Then list what you purchased.
Both of the above suggestions might be used with special care this year because of supply and demand. Prices are continuing to rise, so buying things ahead of time will be important to practice. Keeping a list will be more important than ever so we don’t end up with more than we want or need because we didn’t write things down. Keep a notebook with the budget and the suggestions so everything is in one place for easy reference.
—Research before you go: Look for the best deal by using the internet or store flyers. It’s a little more work but can provide great dividends. Be aware of the “too good to be true” and compare the details closely to make sure you are really getting the item you desire. With online shopping being more common, make sure the websites are secure and accurate. Scammers will be more than willing to take your money if you aren’t paying attention to the details.
—Avoid buying extras or unexpected gifts: If we wait till the last minute, sometimes the cost can catch us off guard. Add a couple of appropriate gifts to have on hand for that “just in case” person you might have overlooked or party invitation you weren’t expecting.
—Remember to be kind, patient and thoughtful: Most of us are blessed beyond measure, but others in the community may have needs we may be able to help with. What a great example to share with others and enjoy the giving in the process. Involve your children in the spirit of the season and help them understand how to share with others.
It sounds like it’s too early to think about, but in reality we have about eight weeks until Christmas. How many paychecks is that for your family? Think about dividing your list of purchases by number of pays so the next year doesn’t start with lots of debt. Whether it’s picking up extra grocery items each week or revising our menu for the family gatherings, we need to be mindful of the total cost and availability of the foods we are expecting to serve.
Someone today said, “There were some parts of last year and the quiet holidays that I really treasured. There wasn’t the anxious rushing from place to place, and while I want to see my family, I really don’t want the rushed feeling.”
You may want to have the conversation with others in your family and arrive at a plan for the gatherings, in a way everyone can enjoy.
Holiday traditions are a part of what makes each family special. Now is the time to have the conversations about what the expectations are, so hopefully, there will be no surprises or fewer frustrations. Sometimes just ask the children what they look forward to and you’ll have a good guide for what makes the season special for them.
Melinda Hill is an OSU Extension family and consumer sciences educator and may be called at 330-264-8722.