PIC Current

by AJ McCreary, PIC Assistant Producer

Courtesy of Emdot

So, we know the real holiday season is still a while away, but we figured if the stores can start putting out Christmas decorations at Halloween, we could do a post on ways not to give them all of your money!

After all, the holidays are usually a time:

• where retail industries thrive
• credit cards reach their max
• people shop until they drop

This year is different. The drama on Wall Street is making people cut back, looking for new ways to celebrate without breaking the bank. Consumers are thinking before spending and using credit, but frugal doesn’t always have to mean less. Perhaps less spending, less stuff, and less debt; and more tradition, more giving, and more fun!

The giving spirit is wonderful to have, but at what cost. Often the holiday season breaks many families budgets. When giving takes all you have it becomes stressful, regretful, and an unhappy memory. Rather than over extending yourself finicially and emotionally, give within your means and make the holidays about more than stuff.

Create a budget and shopping list, and then stick to it. A great way to force you into that is do your holiday shopping in cash. When it’s gone, its gone.

 Ways to cut back on gifts:

• Create a gift exchange: draw names and buy for one individual (set a spending limit). You can do this with the family, extended family, and again for circles of friends. This could cut your gift giving from 20 presents to 4 or 5.
• Talk with your family and friends about cutting back, rather than buying each other gifts plan a fun outing together. The memory of going on a fun adventure will be more lasting than a gift card for coffee or a book.
• Talk with your kids about the holidays, what the importance. Come up with new holiday traditions that aren’t about “stuff”.  Rather than give them 10 gifts maybe give them each one nice gift and fill their stockings with fun stuff from the dollar store.
• Give a gift of your time; make a gift certificate to help a friend or family member with a project or difficult task. If you give a gift certificate of your time make sure you follow through.
• Think about only buying for the children in your life, realistically adults can generally buy what they need or want. And what we tend to buy our friends is often appreciated but unused. Give children smart gifts like books, or art supplies, or toys that require imagination not batteries. Or ask the parents what they are getting the kids, perhaps you can give something that goes with what they are giving, and will help cut down their expenses.
• Make your own gifts: cookies, homemade candy, dry mixes,  homemade candles, or other small useful things.

If you must buy:

• Look into used things at thrift store. Often used books and CD’s are cheap and in new condition.
• Look into shopping at discount stores like: Ross, Marshall’s, Burlington Coat Factory. You can find nice products for a fraction of the cost.
• Local craft fairs or markets. Many quality handmade items are readily available, and fairly inexpensive.
• Useable items: coffee, bath supplies, or candles.

  What is this?