Christmas is a Tonic for our Souls. It Moves us to think of others rather than ourselves.
It directs our thoughts to giving.
Quote: B.C. Forbes
In an unpredictable economic climate, the best place to start when planning your Christmas spending budget is to be completely honest with yourself, face facts and know how much money you can and want to spend and stick to it. While it can be exciting to avoid reality and head off with Christmas bells chiming in your head to commence your shopping…. the dinging and the donging may not seem so lyrical if you find yourself (unwittingly) paying off Christmas debt into the New Year.
It is a good idea to be upfront with family and friends if you are on a tight budget. Be honest if your finances are a little more constrained this year, or if there is a change in your Christmas spending philosophy. Managing expectations can keep everyone on the ‘same page’ and may even start a conversation around other options such as a family gift instead of individual gifts, which could be a board game or puzzle that everyone can play? Whatever the change it is a good idea to arrange upfront and discuss beforehand.
Sticking to a Christmas budget can inspire us to be more creative in choosing our gifts, applying your gift giving strategies to suit the individual:
– If someone is a practical person, a beautiful pair of socks is a great idea as they will appreciate something that they need and is useful.
– Nostalgia can really work for people who you have known a long time, such as family and long-term friends. What could be better than giving a gift that brings back happy memories from the past?
Giving a gift to attend an event or workshop sounds fun but consider taking it a step further and organising a group of you to attend and join in the activity together, making the experience even more meaningful. When giving to older people or grandparents, consider arranging an experience that they would not be able to do without you, an example of this is maybe taking an elderly parent or grandparent to the ballet each year for Christmas, that because of mobility issues this is something they would otherwise be unable to do ~ further expanding the gift to be a gift of opportunity!
While it can sometimes sound a clique, “it is not the money it is the thought” is true. Who amongst us has not been guilty of giving little thought to a gift and has hurriedly run out hours before the event, and spent more money than we could afford in a haphazard manner? Taking time to think about a person and buying a gift that shows it, may really be the absolute best of presents.
Now back to the hardcore facts and figures! Our Christmas Holiday budget should include more than just our budget for gift giving, the following budget template includes Packaging, Travel, Holiday Meals, Entertainment and there is even a section for Miscellaneous expenses, basically providing you with all the information you need, to know exactly how much money you will be spending at Christmas. Christmas Budget 2022
Consumer confidence has plunged below the levels seen during the global financial crisis, causing a record number of households to slash their Christmas spending plans.
Michael Janda, ABC News, 8 Nov 2022
Remember you are not alone if you need to reassess your Christmas spending plans this year, studies show that while last year the average Christmas spend for 2021 was approximately $1,200 per person, this year people are reporting that it will more likely be around the $800 mark, still equating to close to eleven billion dollars. We can contribute to ensuring this Christmas spending creates the maximum ‘happiness’ and social impact by buying thoughtfully and with care for our family and friends while adhering to the parameters of what we can afford.
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