Christmas and a Budget - Oxymoron?

iVillage Member
Registered: 08-17-2005
Christmas and a Budget - Oxymoron?
7
Wed, 12-14-2005 - 3:07pm

This is a question which seems too personal, believe it or not, to ask some of my friends. But I'll ask you all - do you actually plan an amount to spend at Christmas time on each child? And how do you arrive at that figure?

I was raised in a family which did not know the mean of "conservation" so I'm finding my way in the dark here. So many I know use credit cards so finance their Christmas, then work all year (and longer) to pay it off. This was the way of my parents. I do not want to follow in their footsteps, but I also find its hard to "budget" for Christmas.

What do you do?

iVillage Member
Registered: 12-22-2003
Wed, 12-14-2005 - 4:09pm

We don't actually budget a dollar amount for each child, but together, we do decide on one really nice 'from Santa' gift, and some smaller, less expensive gifts from mom and dad. I confess I got pretty carried away a time or two when they were littler. Like you, I was used to a big blow-out at Christmas with loads of gifts. Growing up, DH's family was much more conservative in the gift-giving department, so there has been a conflict or two over the years over the number of presents under the tree.

This year, since they're older and don't really do the toy thing much, (nor do they need anything) we got them each a really nice gift (from Santa) and are surprising them with a 'snow trip', leaving just two days after Christmas. Aside from a book or two, a few small trinkets and stocking stuffers, the rest of their gifts are clothing and necessities for our trip.

Thankfully, DH gets quarterly bonuses and his 3rd quarter bonus hits the bank on November 15 -- just in time for Christmas shopping. So I guess the answer is no. We don't really budget for Christmas, just plan on using the bonus.

I'm thinking I kind of like the one gift + a trip idea. I'm not a big fan of snow in any form, but this will be the first 'real' snow for the kids. We'll see how it goes this year.




Edited 12/14/2005 4:12 pm ET by julesnalpine
Avatar for mily12
iVillage Member
Registered: 11-18-2003
Wed, 12-14-2005 - 6:59pm

I don't think it's worth it to go into debt for Christmas presents. I would suggest that you buy according to your budget without going over board. In other words, only spend as much as you can comfortable afford. We don't spend as much as our kids think we do and yet, every year they have been more than happy with their gifts.

Mily

iVillage Member
Registered: 04-02-2003
Thu, 12-15-2005 - 1:00pm

well, its too late to budget for THIS christmas, but you should start NOW to think about NEXT christmas. just figure out what is the best way for you to save money each month (bank account, sock drawer, freezer, etc) and just do it. have the bank automatically deduct the money from your account each month. that's what i do- i am saving up so that i will have money to travel when i need it (some of my family lives in israel adn some in the states and want to be able to participate in bar mitsvas and stuff). i really can't "afford" to save the money - i am on an incredibly tight budge and my salary does not BEGIN to cover my expenses, but i am still saving a little tiny bit every month. think of it - even if all you can save is 50$ a month - you will still have a nice amount at the end of 12 months.


there are many ways to cut back - you can start by deciding that you don't want to spend a lot of money on christmas gifts!! but if this is your choice and your family's priority - then google "the latte factor" and you will find a lot of ways to save up a few dollars a week - it REALLY ADDS UP.

iVillage Member
Registered: 08-17-2005
Thu, 12-15-2005 - 3:02pm

Well, its nice to know that people still "save" for Christmas a year ahead of time. In this busy world of consumerism and buyers frenzy, I don't personally know anybody who saves a year ahead of time. Good for you for doing that!

iVillage Member
Registered: 08-17-2005
Thu, 12-15-2005 - 3:33pm

What a great idea! I also like the gift + trip idea...maybe takes the focus off consumerism and more towards spending time together as a family. It sounds like you and your dh have the same issues my dh and I have. He grew up in a family where there wasn't much money, and they made do. On the other hand, I grew up in a family where there was a good deal of money - and much of it was "squandered" on huge Christmases for my siblings and I - to the point where our living room looked like a toy store. Years later, we have nothing to show for it (but I must admit, good memories) and my parents struggle along financially, where my mother-in-law has put a great deal of money aside "for a rainy day". Now, when its raining, she helps us - with stuff like exhorbitant doctor bills, etc.

I'm sure my kids would be satisfied with whatever they get - I think it comes from me that I must "please" them at this time of the year if at no other time! For what its worth, we did come up with a "budget" as to how much we'll spend - and we're both getting small bonuses, which will help. But did I start saving for this last year? H--- no! Oh, well.

iVillage Member
Registered: 12-22-2003
Thu, 12-15-2005 - 5:23pm

I'm starting to feel twinges of guilt too. I've already committed to cutting down on frivolous spending next year -- reading magazines at the library vs. buying them at the checkout counter, same for books me or the kids want to read, etc. My biggest frivolous expense is eating out and fast food. I am terribly unorganized in the kitchen!

I'll let you know how the trip goes. I've read the weather reports for the area we're going and they're in the teens! For us California girls, that's a wee bit chilly. I may vote for a cruise next year ...

iVillage Member
Registered: 04-02-2003
Fri, 12-16-2005 - 4:01am

well --- i don't save for 'christmas' actually as i am jewish lol


but we do have two major holiday seasons - the high holidays (which are around september) and passover (which is around april- they are 6 months apart). in between we have hannuka and purim - also big 'money' holidays.


I think the point is really that we all need to be on a budget, all the time. we need to be responsible about our money and learn to prioritize. i think that in america its VERY difficult to *celebrate* the holidays - the "real" essence of the holidays -