In the run up to Hanukkah and Christmas we know that there will be lots of celebrating and gift giving ahead. However, we don’t want to spend so much money that we are going to have to pay for it emotionally and financially well in to next year. Many people overspend on presents and entertaining and this can lead to worry, anxiety and depression later on when the reality of our spending has hit home.
Now is the perfect time to take stock of our finances, work out how much money we will need and make arrangements for this.
The organised amongst us may have already stocked up on presents and only have the food and drinks to pay for but those of us who are less organised may value some thoughts on keeping our seasonal spending in perspective.
6 Tips To Spend Wisely
1. Diarise where and what you are going to do over the festive period and work out roughly how much entertaining and socialising you are planing to do and how much you are expecting to spend. Keep some money aside specifically for this if necessary.
2. Write a list of presents you need to buy and remember to take it out shopping with you – and stick to it. This will mean you won’t duplicate gifts for people.
3. Note down the last days postings for cards and packages and send everything second class.
5. Friday 27th November is Black Friday, when many items in larger stores go on sale. Last year several people died in the crush to get to bargains. Shop online for Black Friday bargains or even better why not decide to do something totally different instead and leave the chaos to others?
6. Shop local, from independent small businesses. It is more ethical, community spirited and eco friendly. You may well find some handmade original bespoke gifts at reasonable prices. Check out your Facebook newsfeed for some nearby creative smaller retailers.
And don’t forget to plan in some simple family time and me time amongst the spending. A bike ride in the woods or a walk along the beach is a great antidote to crowded shops and being in front of a screen.