Holiday Spending... how do you keep it in check?

[portocall]

All the threads about black Thursday/Friday got me wondering and thinking about whether the extra hours will bring more money to retailers or if opening sooner just means seeing the money earlier but it balances out over the season.

We have a finite amount to spend. We deposit money every paycheck into an account purely for Christmas spending. It covers all the gifts we give, Christmas activities, and even Christmas dinner. When its gone, it is gone. Usually money is left and we donate that to a charity in the week before New Years. Whether stores open on Thursday or Friday, once I am done buying off my lists (and they are extensive including coworkers, teachers, toys for tots, and that last minute gift exchange planned for full retail price though I don't mind a sale, more money for charity) then I stop shopping. No real impulse buying here, a sale on something I hadn't planned on buying will not entice me to buy. In the past I wasn't so good about this and got into trouble which us why we turned to this system last year and it has worked week. What to you do to stay in control?

 

[Jennasis]

Easy! We have no money.

 

[Minerva Mouse]

Christmas is always so hard for me, I love to give presents. I haven't figured out how to cap the spending yet and I always spend way to much!

 

[minkydog]

We set aside money every month for Christmas. In October we make a list and check it twice. I try to have the bulk of my shopping done before Thanksgiving--we have had episodes of serious injury or illness 4 times over the last 6 years. I like to be completely finished by Dec 15, wrapping done, packages mailed. I even bake my cookies in early Dec and freeze them so we'll have some for the whole season.

I find that by keeping my list handy at all times, I am not as tempted to go over budget. Of course, it helps a lot that my sibs & I don't exchange gifts. We each donate to charity in honor of the others. I can't tell you how much relief it is! Every one of us is fully capable of going out and buying whatever we need. We live in 5 different states, so mailing is expensive. I would much rather take that money and do something to help someone else who really needs it. When Katrina hit Mississippi, my sister spent 3 weeks in a Red Cross shelter. They were very good to her and we have not forgotten it. This year, our money is going to help the victims of Hurricane Sandy.

 

[disney1990]

Christmas is always so hard for me, I love to give presents. I haven't figured out how to cap the spending yet and I always spend way to much!

Cash - the only way to keep it in check. If you don't have it, you don't spend it. I think in the end, it will all balance out. People only have so much money to spend -- they spend it early or they spend it late. Then it's gone.

 

[disykat]

My husband and I sit down and make out a budget and then we follow it. We're not big impulse buyers so we usually come pretty close with our cost estimates. The amount we budget comes out of our general savings account. Because we're frugal by nature (and we're scared stiff of upcoming college expenses) we're really not tempted to say "hey we have plenty of money in savings right now let's go hog wild!"

We also don't usually buy presents for each other. When the kids were younger we used to stuff each other's stockings and exchange a little token for their sake, but we really prefer to save the money and use it as an excuse to do something special at another time. That way, it ends up coming from the entertainment or vacation budget at a different billing cycle than Christmas.

 

[superme80]

Simple...I'd rather eat.

 

[Patience]

Pay with cash and start shopping early so you can spread it out. I also rarely buy anything that's not on sale.

 

[Maria1985]

Easy! We have no money.

Me too!

 

[Soldier's*Sweeties]

Easy! We have no money.

We're in the same boat. Closing on a house a few weeks before Christmas puts a damper on the budget.

Our kids are getting a house for Christmas!

OP... For the few gifts we CAN afford, I use cash. I have already withdrawn a little money(very little lol) and I use only that.

 

[The Mystery Machine]

Easy! We have no money.

Yea, that pretty much covers it.Right now we are watching every cent. Christmas will be very lean this year.

 

[BearcatsFan]

We each have a set amount to spend in cash and once that's gone, it's gone. I also buy our Christmas dinner a little at a time over a couple of months. Anything that will keep (dry/canned/frozen goods) is bought first, then the ham and breakfast items are purchased later.

This year we cut our budget in half due to all the medical bills relating to my ankle injury. We'll be paying on that well into next year, regardless of whether we buy a few gifts for each other or not.

We're still going to do a charity donation this year. We were discussing last night where/how that money would best be spent.

 

[tvguy]

No budget here. I gave up. If I say nothing, we spend $1,000. If I impose a budget, we spend $2,000.

 

[MIGrandma]

We spend a certain amount on each of the kids/grandkids. I make a list and check things off (and include the amount I paid) as I go so I have a running total and don't overspend on gifts for under the tree.

Stockings are a different story, I don't keep track of the money I spend on those and sometimes they add up to quite a bit of $$ spent. But, I really don't care. We have 7 grands and I fill stockings for each of them and love doing it.

 

[wdwmom2]

Easy! We have no money.

Actually, we buy for the grandchildren. We set an amount and stick to that.

We are redoing our downstairs bathroom. Our money is going to that. DH asked me what I wanted for Christmas, I said nothing (and meant it). He said he would put a red bow on our new bathroom. I said that was perfect!

Actually, DH and I prefer nice vacations to Christmas presents. So we usually just buy something small for each other (even though we say we are exchanging nothing), like cologne/perfume. This April we are taking our Harley Davidson on-board the Explorer of the Seas and cruising the Caribbean for 9 nights. Riding around the islands on your own motorcycle, BEST CHRISTMAS PRESENT EVER!!!!

 

[Minnesota!]

We have a % of each of my paychecks go to a "Christmas" account. Then, each January, I take a manila file folder, and on the inside, write everyone I have to buy for in a list. And throughout the year, I make note of things they mention they want, things I think they will like, etc. Then around September, October, I start shopping. I just buy stuff using that account only. when the money is gone, it's gone! I have 18 people to buy for, plus DH needs to use the money in the account to buy anything for me.

I don't believe in buying people "stuff" just so they get "stuff". My brother's 7 kids are getting a "package". There is a Wii game and a movie for them all to share. And a Foosball table for them all to share. Then each of them is getting their own popcorn bowl, with little packs of popcorn, some candy, etc. in it. The girls are getting some girlie arts and crafts, the boys are getting boy themed (Spiderman) craft stuff. My brother is getting a cookbook that I am making/binding of all the family recipes. Since he got divorced, he calls me like 5 times a week asking "how mom made this" or "how do you know what to use to make this". This will help. For his family of 9...spent $50!

Wish the inlaws were that easy, lol!

 

[Maggie Lizer]

We don't have a set budget, but if I don't watch myself, I'll buy tons and tons of toys for my son and my DH already feels overwhelmed with all of the toys the boy has.

So, I do make a list of all of the poeple I buy presents for, and keep those presents in a place I see them - in clear totes on the shelf in my closet. Before I get dressed to go out, I get a visual reminder of what I have for everyone, so I am not as tempted to keep buying things once I am out.

Also, I've asked my in-laws and parents, as well as my sister, to let me know what they are gettting my son, so we don't buy duplicates. Hearing about all of the stuff he will get certainly puts a damper on my desire to buy more.

 

[Sorsha]

Easy! We have no money.

Simple...I'd rather eat.

Yea, that pretty much covers it.Right now we are watching every cent. Christmas will be very lean this year.

Hello neighbors in poverty!

I am right there with you. My kids get one nice (but not "expensive") gift each from DH and I, and DH and I have set a $40 limit on buying for eachother. Extended family gets framed pictures of the kids and homemade goodies. Sorry folks, that's it for this year.

 

[monkeybug]

We emphasize Christmas traditions in my family, and always have, so even for my kids presents take a back seat and we don't spend much at all on gifts.
That's not to say we don't spend a lot though! lol! We usually rent a cabin in the snow with my whole extended family for a week, and that can get pricey.
We choose which events we will be doing ahead of time, write detailed menu and grocery lists, put a limit on gift exchange presents (we do that yankee gift exchange where you pull a number), and purchase a few small things for our kids.
Last year we spent a week in Leavenworth Washington in a 4,000sq. ft log home with 20 or so family members. Including our portion of the rental, gas to get there, our portion of the groceries, a few meals out, a sleigh ride, and some local shopping I would say we spent around $1,500 total on Christmas.
Not cheaper than piling presents under the tree by any means, but more fun!

 

[wdwmom2]

We emphasize Christmas traditions in my family, and always have, so even for my kids presents take a back seat and we don't spend much at all on gifts.
That's not to say we don't spend a lot though! lol! We usually rent a cabin in the snow with my whole extended family for a week, and that can get pricey.
We choose which events we will be doing ahead of time, write detailed menu and grocery lists, put a limit on gift exchange presents (we do that yankee gift exchange where you pull a number), and purchase a few small things for our kids.
Last year we spent a week in Leavenworth Washington in a 4,000sq. ft log home with 20 or so family members. Including our portion of the rental, gas to get there, our portion of the groceries, a few meals out, a sleigh ride, and some local shopping I would say we spent around $1,500 total on Christmas.
Not cheaper than piling presents under the tree by any means, but more fun!

See, this is what Christmas is to me now!!! Making memories!

When I was younger, presents were more important. But now, I really don't "need" anything in particular. Because, if I "needed" it, I probably would have already purchased it.

That's why DH and I would rather spend my money on vacations. It's all about the memories we will have. Granted, we don't do a big vacation every year. More like every 2-4 years.