xmas presentsI know it’s only November and we have to celebrate (American) Thanksgiving before we can even begin to start thinking about Christmas Shopping.  However, I start my Christmas shopping as of the first weekend in November and maybe some of you DINKS do too.

After Halloween ends the Christmas season begins.  Our shopping malls have already set up their Christmas decorations.  I love everything about Christmas…the smell of snow, the decorations, drinking hot chocolate, and of course the nationwide sales.  To prevent myself from going overboard, I set strict financial rules and budgets for my Christmas shopping.  After all, Christmas is about spending time with family…the great gifts are just an added bonus.

In order to ensure I buy gifts for everyone on my list, and to make sure I don’t break my piggy bank during my shopping (which has been known to get out of control), I make a Holiday Shopping Budget.  I decide what gifts I am going to buy everyone, along with the approximate dollar amount that I wish to spend on each gift. Then, I divide my total holiday budget between the 7 weeks leading up to the Holidays.  Therefore I don’t end up spending hundreds or thousands of dollars from one pay check.

I don’t live in the same city as any of my family members, and transporting gifts from my house to theirs can be a real pain in the assets!  My first year away from home, I decided to fill an extra suitcase with all of my Christmas gifts and bring it home with me…big mistake.  For the next few years I bought my gifts and mailed them to my Dad’s house, this was very expensive.  In more recent years I decided to buy all of my Christmas gifts online and have them shipped directly to my family. This is a hassle free an  cost efficient shopping technique. I buy all of my gifts from two or three websites such as Amazon, LUSH, or Chapters Books; I make sure that each purchase meets the minimum amount required for free shipping.

I never shop at the last minute because disorganization freaks me out, and makes me stop breathing a little bit.  The unknown, especially the financial unknown, educes a mini panic attack.  I plan ahead for my budget, but also for my personal sanity.

I have a big family, and a really big extended family.  My parents are divorced and therefore in the span of 4 days I attend and must buy gifts for 5 different Christmas Parties.  Of course I always buy gifts for my Dad, my sister Tara, and my Mother.  In recent years my mandatory gifts have also come to include the Step Witch and my Mother’s boyfriend.

On Christmas Eve I celebrate with my Aunt and Cousins on my Dad’s side of the family. I celebrate Christmas morning with my Dad and the Step Witch. On the afternoon of Christmas Day I celebrate with my Mother, her boyfriend, and his family. On Boxing Day I celebrate again with all of my Aunts, Uncles, and cousins on my Mother’s side of the family. Needless to say this can be very expensive. We now put a dollar limit on our total spending.  For extended families we pick names and therefore are only required to buy one gift.

Other great ways to save money during the holidays are to Sign Up for Mailing Lists so we are altered for upcoming sales, and Friends and Family events that give us special discounts and invite us to VIP Shopping Parties.  It’s a good idea to shop during VIP parties and give your gift with purchase away as a secret Santa gift with friends or for your office party.

(Photo By AlanClevar)


This entry was posted in Budgets, Extra $ by Kristina Tahnyak. Bookmark the permalink.

Avatar photo About Kristina Tahnyak

Tahnya is a Certified Financial Planner and former Investment Advisor turned marketing and communications professional She holds a degree from Concordia University, is debt free and currently works in the field of digital marketing.

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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