Beginning to look a lot like (a glum) Christmas? Don't let it
Posted
Oct 10 2008, 11:47 AM
by
Donna Freedman
Rating:
Some experts predict that the current economic upheaval will result in anemic holiday shopping. That's certainly what I heard from readers of the Smart Spending message board.
Most of the 100 folks who responded to a holiday spending thread say they'll scale back, sometimes way back, and pay cash. A couple of them are skipping the holidays altogether.
Personally, I don't think you need to spend a bundle to have a good holiday. At the risk of sounding impossibly corny, remember that in "A Christmas Carol," the Cratchit family had no gifts at all. A puny goose, a punier pudding and the entire family around the table made everyone happy.
Yeah, yeah, right. Just make sure there's a Wii under the tree and nobody gets hurt.
The United States has been on a collective buying spree for a decade or so. But the bills have finally come due. Our economy is writhing in agony. We're staring recession in the face, and it's just about as ugly as we imagined it might be.
So money is tight right now, or you're afraid it will be tight later. Those are good reasons to be careful. But it doesn't mean slamming the door on holiday cheer.
A few strategies
Some readers will limit gift-giving to immediate family only, or to children under 18 in the extended family. Others are drawing names rather than shopping for every shirt-tail cousin. One reader mentioned setting price limits; another said that adult family members develop "wish lists" of inexpensive presents.
Many thrifty types started shopping at last year’s post-holiday clearance sales. Others (like me) bought a number of gifts at yard sales and thrift stores. Reader "Librian" has saved $3 store vouchers from recycling ink cartridges and will use them toward calendars, mugs, coffees and other gifty items.
A few are cashing in rewards points to get gift cards. One woman is buying from the supermarket's gift card "mall" because every $50 in cards or groceries she spends qualifies her for discounted gasoline.
Many of those who responded plan a cash-only Christmas, in order to avoid heart-stopping January credit card bills. Some are wrapping coins they've saved all year. "Shadow2103" will fund her holiday with proceeds from the "Dollar Bill Challenge."
Some readers mentioned that old standby, the homemade present. I don't know about you, but I much prefer homemade jam or zucchini bread to socks and underwear.
Keeping up appearances = bad idea
If you need to trim expenses to stay afloat, then for heaven's sake trim them. Don't let others make you feel Scrooge-y. Simply explain that things are a little tight this year, and use some of the suggestions above to provide simple or symbolic gifts to the people closest to you.
Some family members and/or friends may actually be grateful to you for the suggestion. A reader posting as "Vyadron" notes that the adult children in the family are thrilled with proposed gift cutbacks, "as they are also finding it tough to make ends meet."
Those of you with kids might be reluctant to scale down, especially if previous years' holidays have been opulent. I'm afraid the best advice for you is, "Get over it." If you're in financial trouble, going deeper into debt is not the answer. Besides, little kids might not even notice that you've scaled down the gift-giving.
Older children should be let in on a dirty little family secret: Money does not grow on trees. In fact, consider bringing them into the equation. We will be OK because we are being careful with our money. Do you kids have any ideas for how we can make this holiday special?
It's possible that your offspring may shriek that their friends are getting ski trips and game systems and brand-new cars for their Christmases. But it's also possible that they will come up with some creative plans for making merry.
Giving from the heart
If you have the wherewithal to give, then do it joyously -- and thoughtfully. Folks who are having a tough time financially might appreciate presents that save them money, such as a gift card where the recipient usually shops (especially a grocery store). Or they might appreciate small luxuries they can't afford, like theater tickets or a gift certificate to a nice restaurant.
Remember that charities, food banks and social service agencies are feeling the impact of national economic woes, too. Consider providing gifts, food items or a cash contribution to these organizations instead of giving presents to those who already have enough stuff.
I don't believe it's my job, or yours, to overspend in order to prop up the economy. That said, I urge everyone who normally celebrates the December holidays not to skip it this year.
Scale down, sure. Get creative, definitely. But don't forgo a ritual that has the potential to make you really happy if you do it right.
