Holidays Spending Can Test Even The Strongest Marriage
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Holidays put an excessive amount of financial stress on couples. Buying gifts for the children, gifts for each other, gifts for each other’s families can add up in a hurry. In addition, Christmas time outings and festivities get expensive as well. Add in outfits for Christmas parties, baking etc. and you have a big bill come the New Year. Here are 5 ways to keep the holiday spending in check.
- Decide your budget for the holidays ahead of the spending and stick to it. Allocates certain amounts for gifts, for outfits, for food, for decorations and put that amount in separate envelopes. When the money is gone-so is the buying.
- Talk to other members of the extended family and work out agreements on gift giving. In our family, we decided that we would give adult sisters and brothers “Family gifts” – 1 item or handmade gift for the whole family.
- Eliminate unnecessary gifts like Friends and co-workers and give a card instead.
- Decide who will do the shopping for gifts so you don’t duplicate or overspend.
- Limit the amount of gifts you give to the kids. Your love for your children is not measured in how much money you spend on them. They would much rather have your presence, time and attention. Do things together as a family such as go out caroling at a local nursing home. Build a fire and roast marshmallows and tell holiday stories. Volunteer as a family at a community event.