The Christmas wreaths hanging in the store window say "Noel", "Peace", and "Joy". Yet you are rushing out of that store and on to the next one feeling completely stressed out. You need to buy more Christmas gifts, but your running out of money, time, and ideas. You thought Christmas was to be a time of celebration, but as you pass through more and more check out lines you are getting further away from a festive holiday mood.
Christmas gifts for family or anyone else are nice but should never make you stressed or depressed. With all the self applied pressure to give great Christmas gifts it is easy to end up in debt and unsatisfied.
Is it possible to have peace and happiness in addition to frugality and saving time? Yes. I propose the following 12 new ways of looking at Christmas that will save your time and your money and make this Christmas more meaningful than ever before.
The two most important things you can do are to be aware of what is important and meaningful to the people you care about and plan ahead. Knowing what is important to your loved ones will allow you to find better ways to make their Christmas special without worrying about your bank account and credit cards. Knowing how, when, and where to find those special things will make Christmas gift shopping an exciting experience rather than an unpleasant one.
1st Day of Christmas
Refer to this year's gift game plan.
What is it: A gift game plan is a list you keep during the year that notes the things that you've learned are important and meaningful to the people close to you.
Why: When you give something from your gift game plan you and the receiver of the gift do better because your gift has a value that is much higher than just the purchase price.
Example: Christmas is coming, you have little money, and you want to give your sister a gift that is inexpensive, but will be meaningful to her. You see a note on your gift giving game plan that she mentioned back in May that she loved a particular bowling ball in the public use racks at the bowling alley. It is transparent, has blue sprinkles throughout it, and has just the right finger hole sizes. She tries to hide it every time she is done bowling so she can find it easily next time she comes in. You are a regular customer at the alley and approach owner. It turned out that she is willing to sell you this ball because she wants to buy new balls for the alley anyway. She takes your offer of $10 for this used ball and even has the pro shop polish it and engrave your sister's name onto it for an additional $5. You didn't have to spend much money, but your sister is thrilled by the effort you made and that she now owns the "sprinkle ball"!
Action Plan: As a gift giver a better way to ensure that your gift will be appreciated is to make sure you know what is important to the gift receiver. During the year keep a holiday gift list. Every time someone important to you mentions something that is meaningful to them write that down on your holiday gift list. Same goes if they mention something they would really like to own or a problem they would really like to have solved. If you keep this list current you will have lots of ideas on what to get as momentous gifts for Christmas. You will find that often the best gifts / the things that mean the most to your family and friends don't cost as much as the things you would have bought instead just so you had something to put under the tree.
2nd Day of Christmas
Create beautiful memories instead of ugly debt.
What is it: While there are people who create debt for themselves during the holidays by giving gifts you can inexpensively create a unique memento to a special memory from the past year.
Why: Ever hear that a picture is worth a thousand words? A creatively documented memory could be worth thousands of dollars to the person receiving it!
Example: Want a meaningful gift that will not put you in debt? Think about recreating a special moment from the year with pictures. I once took a picture of a friend who was bowling with her 4 year old daughter who had never bowled before. The picture showed my friend at the bowling line with her daughter while assisting her with her very first roll. I had the picture enlarged to an 8x10 shot and put it in a nice frame I bought on sale during the fall clearance. My total investment in this gift which memorialized this special moment was about $8.00.
Action Plan: Be on the lookout throughout the year for ways to memorialize special events. Collect new and old pictures, video or audio clips, certificates, ticket stubs, and other objects that you can use to remember a special day. Create a collage of pictures. Give a video of the "big game" to the soccer star in your family. Scan an old picture and have it printed as a poster.
3rd Day of Christmas
Write a letter not a card.
What it is: A short, handwritten note or letter that you include with a gift where you would have typically put a greeting card.
Why: When you receive a handwritten letter from someone there is a message you receive before even reading it. It says that the writer cares. Only people that care enough about you, the message, or both take the time to actually handwrite a letter.
Example: You were laid off for almost 8 months this year and are not in a financial position to buy a gift for your friend Chad. Chad helped you find your new job, however, and you want show him that you are grateful for his help this year. You hand write a letter to Chad and tell him that he is the example of what a true friend is, that you appreciate him, and that you will be there for him if he ever needs help as well. You include a picture of yourself sitting at your new work area and write "Thanks for getting me here Chad!". Chad feels special and important. You acknowledged his effort and documented your gratitude in special way.
Action Plan: Remember something special about that person from this past year and write a short note about it along with a "Merry Christmas". Tell them you think about them, love them, care about them.
4th Day of Christmas
Leverage your dollar when making holiday purchases.
What is it: Leveraging your money means creating ways to get more value out of your purchase. Find the sellers that need your money and leverage your willingness to buy into a better deal.
Why: In order to regularly improve your lifestyle and stay ahead of increasing living expenses you must be able to get more value for your money than is typically offered.
Example: A rule of thumb in leveraging your money is to get 25% more or pay 25% less. For example, you need four new tires for your car. You determine that $100.00 per tire is a fair and reasonable price. In order to leverage your money appropriately you should find a way to buy four tires for $300.00 (75% of $400.00) or get an additional $100.00 value for your $400.00 purchase. If you find a "Buy 3 Get 1 Free" sale you will get 4 tires for $300.00. If you a free oil change, free tire rotations, and a $50.00 restaurant gift card in addition to your $400.00 tire purchase you leveraged another $100.00 of value out of your purchase.
Action Plan: Christmas is the best time of year to get extra for your money. Once you have decided what it is you need to purchase figure out a fair price and then seek out the seller who can beat it. That means, for example, that you get more of the goods your purchase, more favorable payment terms, longer or more inclusive warranties, a 25% or better discount off of a true "good" price (not the inflated "compare at" price), free and faster delivery, cash back, free trips / rooms / meals / clothes / gifts cards, or any combination of these and other incentives.
5th Day of Christmas
The labor of love - give your time and labor instead of your money.
What is it: Everyone has two important assets - your time and your money. Instead of disproportionately using just one of your primary assets (money) for gift giving seek balance by finding opportunities to give your time as well.
Why: You can potentially leverage your time and skills to give a gift that is much more valuable to someone than just another store bought box. What can you fix, solve, or handle for someone? With your time you can help someone solve a costly problem, assist them in some way to make their life easier, or fix something in their home that is broken.
Example: Your paycheck may not be the best indicator of what your time is worth. Your employer may pay you $10.00 per hour. However, if you spent an hour working on your mom's car, changing the oil/rotating the tires/washing it, that hour of labor you gave your mom may be worth $30.00 to her.
Action Plan: Again, being attentive to the people who are important to you will shed light on what are their burning issues. During the course of the year these people will have mentioned many problems that they are facing and your time can be of value in solving those problems. Give them a meaningful gift by solving their problem and saving your money!
6th Day of Christmas
White elephant gift giving - one man's old boots is boy's dream come true.
What is it: The best gifts are not always brand new but may come with lots of mileage and loaded with character.
Why: Everyone's sense of value is different. That gift you find may be old, but is perfect for the person you want to give it to because perhaps this gift packs lots of nostalgia, completes a collector's masterpiece, or even replaces a long lost memory.
Example: Mike, at the age of six, wanted to be a fireman. Mike's first grade class had just visited the fire station. They got to sit in the fire trucks, use the sirens and lights, look at the tools and hoses, and turn on the alarm at the station. He was very excited about pretending to be a fireman for the day.
At Christmas his parents gave him a fireman's previously used boots and coat along with a cheap toy fireman helmet. Mike thought he had died and gone to heaven and reacted accordingly. Of course, the boots and coat did not fit and Mike's parents had bought what was basically garbage to the firefighters for a tiny donation to the volunteer fire department, but that didn't matter to Mike. He had real fireman equipment and you couldn't have bought him a better gift.
Action Plan: In your travels during the year look for items that can be acquired for little cost and would be valuable to someone you want to give a gift to. As resources for such gifts look at live and online auctions, estate sales, garage sales, antique shops, online and newspaper classified ads, and even your own attic.
7th Day of Christmas
Tools - gifts that are assets, not liabilities.
What it is: Hand tools are an example of an asset that can be given as a gift. Tools belong to the owner, can be used over and over, and save money and solve problems each time they are used. Gifts are liabilities when they depreciate or cost money to maintain, but gifts are assets when they bring pay for themselves and generate additional value.
Why: Gifts that are assets are gifts that keep on giving year after year. When purchased at a discounted price they answer a need but also generate additional value in the form of saving time and / or money.
Example: Your friend's kitchen faucet is leaking. He tightens the base of the faucet as good as he can with his hands but it isn't tight enough to completely stop the leak. If he had a wrench he could completely tighten the bolts. Because he doesn't have the right tools to stop the leak he will end up paying much more on his water and sewage bill then he should have too.
Action Plan: If you know someone who is not familiar with tools and doesn't have a current repair problem give her a "starter tool box" of various screwdrivers, wrenches, a tape measure, a finishing hammer, sand paper, and picture hanging hardware. If you know someone with a specific problem you could buy them a tool that will help them solve that problem. Not only are you giving the gift recipient an asset as a gift but you are helping them solve problems and save money.
8th Day of Christmas
Swap employee discounts.
What is it: Many companies offer their employees a discount toward the products or services they sell. Often this discount can be even better than the employer's best offers to the general public.
Why: You may work for a company that offers a discount to employees but the product or service you sell at work isn't something you need right now. However, you may have a friend or family member that receives an employee discount at an establishment that sells the things you need.
Example: You work at an appliance store and your friend works at a hardware store. You want to buy your father tools and a toolbox and your friend wants to buy a microwave for his sister. You can each still get a discount on your purchases if you each make the purchases for each other.
Action Plan: Keep tabs on where your friends and family work. Ask them to make purchases on your behalf. Be sure you reciprocate whenever possible if you "borrow" your friend's discount. Be aware and know how to work with any rules the employer may have about swapping discounts. Many stores also have "employee only sales" and "friends and family sales" - get your friend to bring you! Don't forget that many people get a part time job during the holidays for both the extra Christmas gift money and the employee discount.
9th Day of Christmas
Reverse the Christmas gift race.
What is it: The gift race is an unrealistic exercise to 1) make sure everyone gets the same amount of gifts, 2) ensure the gifts you give someone are more elaborate or expensive than the gifts they will receive from someone else, or 3) arranging to give more gifts than you did last year.
Why: Some people get caught up in the gift giving believing that their quantity and quality of gifts is somehow a reflection of their worth, love, or status.
Example: Cory has 4 nephews. She bought 2 of them 2 gifts each and the other 2 three gifts each. She spent the same dollar amount on all four, but felt compelled to buy the first two nephews an additional gift each so they wouldn't think she loved them any less. Cory didn't have enough cash left to buy the additional gifts so she put them on her charge card. She went home feeling guilty about overspending and going into debt.
Action Plan: Instead of focusing on outdoing last year or someone else's gift giving focus on how little you can spend to buy a gift that is meaningful to the person you are giving to. Forcing yourself to stay on a strict budget will inspire your creativity and lead to ideas for gifts that are more significant to those you care about.
10th Day of Christmas
Be prepared for these four huge savings days.
What it is: Black Friday, Cyber Monday, Christmas Eve, and December 26. These are the days retailers make many of the best retail discounts of the year publicly known.
Why: Emotional and convenience buying will empty your pocket quickly. Strategically planning your purchases on these traditionally deep discounted days will stretch your dollars. Plan ahead with your budget and have money set aside for bargain purchases on these days.
Example: Janet wanted to buy a new cookware set for her mother's February birthday gift. She had $100 set aside in her budget with which to buy a good set of pots and pans. On Black Friday she found a much better set that was on sale that morning for only $80.00! Janet bought that cookware collection, hid it for her mom's February birthday, and used the left over $20 to also buy a crock pot and serving utensils, all of which are also being deeply discounted that day.
Action Plan: Planning ahead and timing your gift purchasing is critical. Put money aside every week for these four big buying days. That way you will be prepared to start taking advantage of the once a year deep discounts you will find on the day after Thanksgiving. This isn't just a time to buy Christmas gifts either. Use these opportunities to buy tools, equipment, household goods and other purchases that you need and have budgeted for.
11th Day of Christmas
Dip into your stockpile of gifts.
What is it: Throughout the year keep looking for incredible deals on items that are assets, save money, solve a problem, or would mean something to someone you know and care about. You may find opportunities to buy ahead of the season. You can save now and set that gift aside until it is time to give.
Why: If you use the entire year to shop for gifts rather than a few weeks before Christmas you are giving yourself many more opportunities to find great deals as well as gifts that will be just right for the person you are buying for.
Example: A retailer was selling off sets of elaborately decorated candlesticks when Jack was bargain shopping. They had been marked at $26.00 per set. The style had changed and new inventory was arriving for the new fall season. The sets were now marked down to $4.00 (over 80% off). These candle stick sets came in a nice box and would be a great gift for Jack's aunt. It was several days after Labor Day, it wasn't a gift giving season, however, this was a great opportunity to buy a beautiful gift at an extraordinarily low price to be given at Christmas.
Action Plan: Typically, at the end of a season, retailers will lower prices in order to move inventory and clear the shelves for the next season's merchandise. In larger metropolitan areas the real discounts go fast because there are lots of people bargain hunting and you may miss on some of the opportunities. Drive by those retailers and head out to their locations in more rural areas. They don't have the same crowds, but sell the same merchandise and observe the same seasonal inventory changes and clearances. Be sure to take time to browse the day after Christmas, during clearances and going out of business sales. Don't forget the week after Labor Day for clearance toys, household goods, and clothes.
12th Day of Christmas
Learn to bake.
What is it: Christmas, among other things, is a time for goodies.
Why: While everyone loves to enjoy homemade Christmas cookies and treats, most people will tell you they just don't have the time to bake them. A variety tray of Christmas cookies can be a very attractive gift. A tray brings lots of value - the enjoyment eating the cookies and the appreciation of the time it took to make them.
Example: Single men, either living alone or in groups, are especially appreciative of the cookie tray. For many reasons this group are the ones that eat of out boxes and bags. Homemade food, especially holiday treats, is not something they get to enjoy very often.
Here is a story of a lady whose effort to save money actually generated a regular income for her. Patty gave her coworkers variety trays of home made cookies at Christmas. Her cookie gifts were a huge hit. While her intent was to save money by giving her coworkers a homemade gift at the company gift exchange she ended up with a small business. Her cookies became so popular that people starting offering her money for extra trays for their families and friends. Soon Patty was bringing in trays of cookies regularly to fill requests for parties and other holidays!
Action Plan: Start small. Your holiday cookie creations do not need to look exactly like ornate Christmas tree decorations. Find easy recipes to follow and keep decorations to a minimum until you are comfortable trying more involved work. Christmas colored sprinkles on sugar cookies is just fine! Want to make the gift of cookies last longer - Hide a hand written note under the cookies so when they are all eaten the note is found later.
