The Holiday Sprint! – Hope Prescott

There are very few shopping days left until Christmas. If you have not finished your shopping or planning for family celebrations, then you are getting ready for the Holiday Sprint! This can cause a big strain on your budget and emotions. Now before you leap take time to make a shortlist of all anticipated holiday expenses. Estimate the amount you have available to spend for holiday expenses and set a spending limit before you go shopping in stores or online. One way to avoid the holiday crunch on your wallet at the end of the year is to plan for holiday expenses throughout the year. This will avoid the holiday financial hangover. You might not realize you are overspending when hosting for the holidays, but the more people in your home, the higher the utility bill at the end of the month. You may also have the expense of additional trips to stores to restock food, drinks, and toiletries.

This year you might consider splitting last-minute responsibilities with your friends and family. Sharing responsibilities will help you enjoy the holidays more and stress less. If your budget is tight, you can suggest hosting a potluck style gathering this year. With a potluck, each guest is responsible for bringing at least one dish, beverage, or party supply. Making a list ahead to know in advance who is bringing what will ensure a balance of dishes. Also, people with special dietary needs can bring a dish that they can eat. Guests who prefer not to bring a food dish could bring beverages, napkins, and other non-food items.

Waiting until the last minute is more likely to contribute to overspending. However, do not panic. Decide on a plan and follow it-the sooner the better. Close friends and family can still pitch in so do not be afraid to ask. Simpler meals that feature the favorites foods that most people eat are the best. Rather than multiple desserts have one or two that most like. Remember there is life after Christmas and other holidays. You can serve another family favorite at another meal.

Do your best NOT to rely on your credit cards during the holidays. If you cannot afford to buy it now, do not create a bill for yourself later. Once the holidays are over, you will face debt with interest if you use credit cards that you cannot pay off the balance before the due date. To avoid that debt, buy only what you can pay for immediately. Consider making something special for that person that costs less such as homemade cookies or party snack mix in a cute container. Another option is to give a card that lists a service you can provide such as babysitting or providing a meal or that person’s favorite dessert. Include the details such as 4 hours of babysitting and how much notice you need to schedule the service or make the food.

Consider creating joyful holiday memories without breaking the bank. Focus on the spirit of the season instead of gifts. Think outside the gift box. Here are some ideas:

Limit gift giving
Share your time and talents
Build traditions
Plan beyond the holiday

While it is thoughtful to go the extra mile during the holidays, stretching your time and pocketbook too thin is not good for anyone. But the truth is that gifts are not the most important part of holiday memories. Do you remember what you got 2 or 3 years ago? Chances are your happiest holiday memories have nothing to do with the gifts you received. Thinking outside the gift box will contribute to a happier and financially healthier holiday season. Happy holidays from your friends at the University of Arkansas Hempstead County Extension.