We are wrapping up Christmas 2015 and looking forward to 2016. Before we move ahead, let’s review, learn and plan for our NEXT Christmas and holiday celebrations.
What were your favorite experiences? What made this Christmas and/or holiday memorable? Ask these questions not only of yourself but your family members. You may be surprised at what they say!
For the Tucker family, our favorite experiences were being together, playing games, laughing. We also enjoyed giving to others – helping a young struggling family buy gifts for their children and monetarily supporting a start-up ministry.
Memories are filled with emotion. Emotions have heart value. But our memories can be followed by a negative monetary experience if we don’t plan properly. As we reflect and plan for next year, ask yourselve what experiences you want to repeat? and what do you NOT want to repeat? Planning for 2016 should include budgeting for both your money and your time. Plan blessing, not stress. Plan discipline, not chaos.
Here are five things to consider and discuss:
1. GIVING. Christmas brings out our giving spirit, but it can wreck havoc on your budget. Give your holiday plans margin for both time and money. Giving during the holidays brings meaning and reminds us why we are celebrating. Whether donating to an important cause, secretly blessing someone, or spur-of-of-the-moment giving, have a plan. You will be blessed.
2. TREES AND OTHER DECORATIONS. If you purchase a live tree or a cut tree, the cost can be overwhelming. In our neighborhood, the tree from the lot was $12/foot. (x 6 = $72). Shop around, cut your own, or consider (I can’t believe I would suggest) a fake tree, that can be used for many years. Again, what would work best for your family, and within your spending plan?
3. COOKIES AND CANDY. Baking those special treats is expensive. Beginning November 2016, increase your food budget (see #5). If you are unable to increase your food budget, make a list of common ingredients used, and begin buying them in October. Purchasing a few baking items each week doesn’t hurt as much as all at once. Items I will be sneaking into my basket during the few months leading to the holidays include lots of butter, nuts, chocolate of all kinds, and sugar.
4. EXTRA GIFTS. Every year our church purchases gifts for homeless teens. We also are asked to donate for office gifts, gifts for hurting families, etc. If this is a part of your celebrations, don’t forget to save for it. If you give up one specialty coffee every month, you will have about $60 to spend on someone else!
5. FOOD. From Halloween till January 1st, Americans consume a lot of food. Whether enjoying a meal at home, at a quick-serve restaurant, or nice dinner out, most Americans spend extra dollars dining in and dining out (not including #3 above). These eating occasions provide great traditions and memories from eating a special meal at home with special friends, or stopping at a favorite restaurant after shopping. Make it your goal for this to be a favored memory, not a budget spoiler.
Gather the family and determine a plan:
What dollar amount should be given to each category? Once a dollar amount is determined for each category, divide by 12. Is this plausible in your current monthly budget? If this is new to you, have a family discussion about the categories, HOW you want to spend your money, and what experiences do you want to include for next year?
Here’s to a great 2016, planning and preparing wisely for the love of your family.
