Start Thinking About Gift-Giving in October

There are so many things pulling at us and vying for our attention, it is hard to decide where to begin. Let’s begin with where we are today, and start by pulling on one thread at a time. First, some sage advice from one of my favorite writers…

“This is one more piece of advice I have for you: don’t get impatient. Even if things are so tangled up you can’t do anything, don’t get desperate or blow a fuse and start yanking on one particular thread before it’s ready to come undone. You have to realize it’s going to be a long process and that you’ll work on things slowly, one at a time.”

Haruki Murakami

I live in the real world where I know that money is tight for everyone these days. Outside of a few birthdays scattered throughout the year, the hardest financial hits for most of us come during November, December, and January. The Holiday Season.

I am old. I grew up with a mom who used a Christmas savings club. A meager sum of money put away weekly provided grand meals and more than adequate gifts for everyone every year. With a little tweaking, I try to continue to use some of the systems and strategies I learned as a child as I work to impact the lives of my children and grandchildren.

I know it’s a little late in the year to consider this approach, but it’s something to keep in mind for January of next year. Back to now…

The best way to eliminate a lot of the financial stress associated with planning for the holiday season is to get the ball rolling early.

When we want to make the holidays an enjoyable experience for ourselves and our families, a little bit of forethought does go a long way. I have included Thanksgiving not so much for gift-giving as for the hit our food budgets take.

The Strategy

When we start thinking about Thanksgiving, Christmas, Hanukkah, and New Year’s Eve a couple of months early, we should be able to keep an eye out for great deals and promotions ahead of time. Plus, when we have a holiday game plan set up in October and deal with the biggest tasks well in advance, we can enjoy the season and the festivities without rushing around at the last minute.

When we have a step-by-step plan of action, getting through the planning and shopping aspects of the season will be simpler and less stressful.

Try these tips for planning for your gift-giving in October:

1. Create a budget early. A solid spending plan will contribute heavily to having stress-free and debt-friendly holidays. Begin your seasonal planning by looking over your finances and determining how much you can afford to spend. This seems obvious, but it is the place where most of us immediately go wrong and overspend. Be brutally honest with yourself, as this budget must carry you through into the New Year.

Address all aspects of the holiday season in your budget. This includes gift-giving, entertainment, food, greeting cards, and anything else you need. This will ensure that you don’t engage in wasteful overspending in November or December.

2. Formulate a gift list. Create a list of everyone you plan to give a gift to and compare it to your gift-giving budget. Set a spending limit for each person on your list and trim the list if your budget cannot support it. Jot down a few gift ideas for each person and run them against your budget before you begin shopping.

3. Readdress your budget. As the weeks go by, keep track of your holiday spending. There are dozens of free or cheap apps you can use for tracking your expenses. Or make a simple flow sheet tallying the expenses as they occur. AS THEY OCCUR is the important bit!

How does this stack up against your budget? How much money do you have left? Is your budget currently on track, or are you in danger of overspending?

You may need to make tweaks to your budget as you go, which is completely normal. But instead of raising the amount of money in your budget, the amount of money you have to spend, shift your priorities instead.

4. Start shopping early. The earlier you shop, the more time you will have to find the right budget-friendly gift. This will allow you to search for sales and bargains on the gifts you intend to give. If you want a budget-friendly holiday shopping experience, be ready to spend some time looking around, comparison shopping, and using coupons throughout the season.

5. Plan the party early. A great deal of planning is required for holiday get-togethers. Plan early and address your plans often to ensure that everything falls into place. Create a budget and a step-by-step guide for planning the occasion. Ask for help when you need it.

When it comes to the holiday season, planning and preparation go a long way. Put some thought into your holiday season in October and you’ll be a lot better off when December and January roll around. There’s no reason to get overwhelmed with the holiday planning process by waiting until the last moment.

Avoid procrastination and get a jump on a stress-free, budget-friendly holiday season. This is the best way to ensure that you can enjoy the holidays with your family and friends rather than focusing on what you have spent.

Let’s work together to make individual blueprints of our best lives going forward.

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