Saving Money on Christmas Gifts

You have approximately 30 plus days to Christmas.  Christmas has become a money event. Your kids expect to have some type of materialistic gift.  They are asking for Xboxes,  the latest cell phone and more.  It has become a tally of gifts.  It creates stress, hassles and shopping burn outs for parents.  Christmas was not originally meant to become a retailer’s bonanza. 

I remember during Christmas time as a child looking forward to receiving homemade cookies, cakes and pies.  In fact, i remember a client who reduced their Christmas gift bill significantly by coming up with a family Christmas cookie recipe. The cookies were looked at by friends and family as a sign of great love and affection.  Some friends were greatly disappointed when they received store bought gifts instead of the homemade cookies.  The family reduced their gift spending from 6% of annual income to 2% by using this strategy.  This is not a scrooge strategy but one to get your values more in sync with your pocket book and give you extra money to fund your kid’s college fund, your emergency fund, increase your retirement contribution and more.  

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