You resolved to rein in excess spending this holiday season and have set a budget that fits your definition of generous without going over the top.
The problem: A chronic overspender, you fear your newfound fiscal responsibility will pale compared with previous years’ extravaganzas. So how do you pack more punch into every dollar?
Here are five ideas for putting more meaning behind the money this year:
Start traditions. Parents often cringe when they hear kids recite their presents when asked how their holidays went. But who can blame them, if unwrapping the loot was the dominant activity over holiday break?
Keeping up with holiday countdown calendars is a great way for families to make a mini-celebration out of each day of the season.
Plan a family night or weekend day devoted to hauling out the seasonal decorations. Having all hands on deck doing everything in one big push makes an event out of what some consider a lonely chore.
Work a family walk into the holiday routine. Getting outside does wonders for everyone’s stress level, including the children’s.
Give gifts that mean more. Put down the holiday gift guide and really think about the important people in your life. What happened to them this year? What changed in their job, home life or social life?
I struggled for years to give gifts to my brother, who always had more income; I worried anything I offered would seem insignificant. Then a couple of years ago when he started a business, a light bulb went off and I joined with our mom to give him a few hours of time with a personal organizer to start up the administrative side of the company. It is one of the only gifts I’ve given to him that I can even recall.
This year, in remembrance of our mom’s passing, I’m making and shipping him a batch of her fudge, one of her many signature recipes.
My in-laws have spent the last year trying to declutter as they moved from a large home to a condo. So instead of giving my father-in-law another silly gadget for the home, he’s getting tickets to a sporting event.
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Mix friends and charity. Someone I know who works in philanthropy had a friend who was involved in a fairly serious accident. Instead of sending flowers to the hospital, he sent that money to a charity that helps people who don’t have health insurance pay their medical bills. The friend was thrilled with the idea and didn’t have to lug a pitcher of flowers home from the hospital.
The same idea can work at the holidays. But be sure your donation is tied to the recipient’s interests, not yours.
The gift of thrift. If you’ve decided to send money as a gift, make it a savings bond (www.treasurydirect.gov) or a low-minimum mutual fund rather than a gift card. Gift cards sometimes have a fee, must be spent instead of saved and recipients have to pay out of pocket if they want something more than the value of the card. Even a personal check gives the recipient the option of saving at least part of the gift.
Start with yourself. Making your own holiday experience more meaningful can’t help but rub off on others. A modest charitable donation goes a long way if it’s accompanied by a few hours’ volunteer time. As a special year-end activity, pick a new charity and learn enough about the cause to eloquently describe to others why you’re helping–it’s not bragging, but spreading the word about a good cause. You can check out local charities by state or by zip code at Charity Navigator (www.charitynavigator.org). To widen the activity to the whole family, or a group of colleagues or friends, keep a journal that logs the charities you decide to help and take turns being the one who researches and decides which organization you’ll assist each year.
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E-mail Janet Kidd Stewart at [email protected].