Archmaille Designs Blog

Christmas is a time of good cheer and family togetherness. But recently it seems more and more like it’s a time for consumption and shopping that spin out of control. In the wake of the recent credit crisis, it seems appropriate to talk about the strategy of developing, and sticking to, a strict Christmas budget. Step one: Sit down, write it out, and be realistic!

The hardest part about the budget is sitting down and making yourself write it. Facing your financial daemons is painful, but think about how much more painful it will be to receive that credit card bill come January. Start off with the realistic number of how much you can spend over the entire season. Do not skimp and come up with an unrealistic number. This will only lead to disappointment and once the budget is blown people tend to stop keeping track altogether. Set a realistic goal and then when you will be inspired by the feeling of success. Once you’ve set your target number, the start to make your categories for spending. Do not forget that there are expenses in addition to presents. If you are hosting the Christmas meal for example, or travelling for Christmas, make certain to factor this in. Other categories include: Presents, food costs (in addition to normal grocery budget), travel, decorations, Christmas cards, and clothing (think Christmas parties).

Step two: Making a list, checking it twice…

Next make certain to list all of the expenses that come under each category. Do not forget all of those people you may need to get something for. Are you popping by to the neighbours for a Christmas gathering or maybe you’ll see your husband’s grandparents for a Christmas visit? You will need to bring a little something for them, so don’t forget to make a comprehensive list. This way you will have a better sense of haw far the money will go. At this point, it is a good idea to list a gift idea with each person you’ve listed. Think of things that they really want. Not the things that you want! The other thing to remember is that sometimes it is perfectly appropriate to just send a Christmas Card. Do you really need to send something to your Aunts Cousin?

Step three: Budget, budget, budget!

This does not mean little Billy doesn’t get his tricycle this Christmas. This simply means that people you should not be spending money on do not get a little something that they will never use anyway! Some tips to save money without being stingy:

1. Get one gift!- Often we buy 3 or 4 items for our sister because they seem to “pop out at us.” Stay strong and choose one gift she’ll love.

2. Do a rotation. Set with your siblings or best friends a rotation for giving. This year you give to Sally, and Sally gives to Betty and Betty gives to you. I bet your friends would welcome the idea! This way you can get a really nice gift instead of 5 mediocre gifts.

3. Do not just wander around the store looking for gifts. Go into a store knowing exactly what you want, and how much you want to spend. This is why online shopping is so wonderful. It is easy to compare prices and keep track of what you have spent.

4. Save those receipts! Make sure that after you spend you tick off that part of your list and write down how much you have spent. Most overspending happens as a result of not knowing how much you have already spent!

5. Shop online. Not only does it save time to shop online, but it also saves money, and is an easy way to track what you have spent. And if you are very savvy you can tick off the person on the exel spreadsheet you are keeping just as you are buying online! Don’t forget that the prices are often much better. An amber jewelry necklace in our online shop, for example will often cost 4 times more in a retail shop.

Step four: Keep track, and stay strong.

Now that you have your budget, and you have figured out ways to save some cash… now you just need to stick to your guns. It is temping to get your child that additional toy that he or she craves this season. But remember that they will forget about that toy in a month or so anyway, so do yourself and your family a favor and stick to the budget that will ensure the financial security of the family come January.

Step five: Eyes on the ball.

Don’t forget that the true happiness of Christmas is from the time we spend together. We will not remember back 30 years later fondly at the Ipod that we got! We will remember the warmth and joy of time with the family. Do not get wrapped up in the consumption at Christmas, but get wrapped up in cheer and festive feelings instead. These feelings will stay with you and your family for years to come, long after that Ipod is discarded and forgotten.