’Tis Almost the Season!

The holidays are now upon us. What a fun and exciting time of year. Above all, there is the lingering question: How do we keep the true spirit of Christmas front and center in our families amidst all the hustle and bustle? For many, the pressure of finances can get in the way of feeling the spirit of Christmas. Here are a few tips that might help in your efforts to be a wise steward during the holidays:

#1 Agree on a budget. If you haven’t already, decide now how much you are going to spend on gifts, decorations, food, etc. Now for the hard part: STICK TO IT! If it’s not in the budget, do without. If you feel like it’s important, write it down so you can budget for it next year.

#2 Don’t go into debt. We’ve been counseled again and again not to go into debt for things we don’t need. A wise steward plans ahead. Saving money beforehand gives you freedom and peace of mind. If you didn’t save up this year, make it a priority for next year.

#3 Get the family involved. Especially in lean years it’s important to keep the whole family appropriately involved. Young members of the family can learn valuable lessons about service and frugality. They also might surprise you with innovative ideas to save money. Above all, it’s a great way to bring a family closer together when you are all working toward a common goal.

#4 Start Now! Now is the time to put plans into action. If cutting back on what you spend on gifts is in your plan, start now to prepare for creative ways to get into the spirit of giving. Homemade gifts, gifts of service, even letters of kind thoughts, these can be more memorable and meaningful than a toy or a sweater.

The following is a quote by Pres. Thomas S. Monson from his Christmas devotional message from December 2003: “There is no better time than now, this very Christmas season, for all of us to rededicate ourselves to the principles taught by Jesus the Christ. It is the time to love the Lord our God with all our heart and our neighbors as ourselves. It is well to remember that he who gives money gives much, he who gives time gives more, but he who gives of himself gives all.”

If you have money to give, Great! If you have time to give, Even Better! To give of ourselves is our goal and the surest way to keep the principles Christ taught in our homes during this wonderful time of year.

Christmas Already?

It may only be September, but December comes quickly, and so does Christmas! It seems crazy, but it is never too early to start planning and saving for Christmas. Now is a good time to start discussing your Christmas budget. Decide now, before the Christmas wish list starts, what you will spend per person for Christmas. And stick to it! Don’t get tricked into increasing your budget because a certain person wants something that exceeds your budget. They can keep dreaming . . . or better, yet . . . teach them to start saving for their dream.

In your Christmas budget planning, decide whether you can afford your Christmas budget. If the money isn’t there and won’t be by Christmas time, get a little more creative with your gifts and spend less. It doesn’t benefit anyone by going into debt for Christmas.

Just to look at some numbers . . .

If you were to spend $500 for Christmas and put it all on your credit card at 13% interest, it would take you 42 months to pay it off with a minimum payment of $15 a month! Or, say you wanted to pay it off in just one year, your monthly payment would be $44.18. You don’t want to be paying for last year’s Christmas when it is time to start thinking about this year’s Christmas. Wouldn’t you be better off to have a light Christmas this year and start saving that $45 a month for next year?

A few other helpful Christmas tips:

Keep your eyes open for sales, clearance items and great deals all throughout the year. If you know the people you are buying for, you can sometimes get great deals long before you think about Christmas. Be cautious though, no matter how good a deal it is, if they aren’t going to like it [or it is a fad that will go out of style], it isn’t worth it. Always keep your receipts and don’t forget what you bought and where you hid it.

Get creative in your giving. Homemade gifts are generally cheaper to give and have a lot more meaning. Gifts of service are sometimes the most valued gifts. It truly is the thought (and time) that counts, not the money.

Make a list of who you really want to give to. It may be nice to give gifts to all your family, friends and neighbors but, is it necessary and can you afford it? Maybe a simple handmade note or card would be enough to tell them that you are thinking of them and care about them. If you were to ask them, they would probably say they would rather you be in a healthier financial situation than to receive a gift from you.