[et_pb_section fb_built=”1″ _builder_version=”3.0.47″ custom_padding=”0px|0px|54px|0px”][et_pb_row custom_padding=”4px|0px|27px|0px” _builder_version=”3.0.47″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.0.47″][et_pb_text admin_label=”Blog Post” _builder_version=”3.21.1″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”]

Christmas.  Do you dread Christmas because of the expense?  The guilt?  When you get your credit card bills in January how do you feel as you open your mail?  Have you ever said to yourself, “I wish I wouldn’t have spent so much”?  If you’ve felt guilt or regret due to your Christmas spending, keep reading.

Christmas Guilt

Eight months after my divorce I found myself guilty of post-divorce-guilt-buying.  I was Christmas shopping for my son and buying gift after gift after gift.  I bought gifts like it was my job.  My son was almost three, and had started to show his preference for trucks and tractors, especially anything John Deere.   In addition to the John Deere toy box, coat rack, tractors, clock, piggy bank, blanket, pj’s, and shirts, I bought other gifts.  Lots of gifts, including multiple stocking stuffers.

We opened gifts and took pictures.  A few hours later, I noticed that his gifts were still neatly arranged, and hadn’t been touched.  A few days later, the majority of those gifts were still neatly displayed.  “What’s wrong with this picture?” I thought to myself.

As I was putting the holiday decorations away in early January, the answer came to me.  “I shouldn’t have bought all of those gifts.”

Solution

I recalled that a friend gives her kids three Christmas gifts each year, just as Jesus received three gifts.  In Matthew 2:1-11, the scripture tells us that the wise men brought Jesus three gifts:  gold, frankincense, and myrrh.  Bingo!  From then on, I told my son that at Christmas he will get three gifts, just like Jesus got three gifts.

He NEVER argued.  I NEVER got push-back from him.  I NEVER feel guilty about overbuying Christmas gifts.

The year of my divorce, I didn’t set a Christmas budget.  To my credit, I did all of my shopping with cash, and didn’t use one, single, credit card.  In January, I only felt guilty about over-purchasing gifts.  I didn’t have guilt from spending money I didn’t have.

Thank goodness, I had learned my lesson on credit cards a few years before!

Christmas Debt

Buying on credit was a practice I had engaged in a few years prior.  In my 20’s my debt continued to increase, year after year.  I never planned ahead for emergencies or things I would buy.

Credit was so much easier than a plan and a budget.  Each January, I had more debt than the previous year, mainly from overspending during the holiday season.

How would you feel each January without buyer’s remorse?

Wouldn’t it be great to start the New Year without guilt over your spending the previous month?

Would you like to know that Christmas is paid for at the time you make your purchases?

Do you really want to pay for Christmas all through the New Year?

Get ready for a new Christmas Program!

If you’re ready to do things differently this year, keep reading.  I have the steps you need to master your money for a very Merry Christmas!

Step 1:  Set a Christmas expense budget and commit to staying within budget.

In addition to the cost of gifts, remember to include the costs for food, decorations, wrapping paper, attire, and events or activities.

Plan each person’s gift and stay on track for your holiday spending budget.

Have you failed at making monthly budgets?  Start by planning for your holiday expenses.  You’ll find that creating a Christmas spending plan is not as overwhelming as planning a monthly budget.

If you’re tired of negativity surrounding your money now is the time to learn to master your money.  Make a commitment to yourself to learn and implement three new financial disciplines in the coming year.

Step 2:  Decide to whom you’ll give gifts this year and how much you’ll spend on each person.

Be like Santa.  Make a list and check it twice.  Next to each person’s name, write the maximum you’ll spend on that person.

Really short on cash?  How about giving hugs instead?

Step 3:  Set a date for when you want to be done with all of your Christmas shopping.

How much less stress would you have if your shopping was done my November 30th?  Pick a date and schedule time to shop so that you’re done on time, or better yet, ahead of schedule!

Step 4:  Calculate the amount you need to save out of each paycheck between now and your shopping deadline.

It won’t take more than one minute.  Look at a calendar.  How many pay periods do you have between now and your shopping deadline?  Divide your budget by the number of paychecks.

     Budget:  $600

     Pay Periods:  8

     The Math:  $600/8=$75

Step 5:  Use an envelope or dedicated account at your bank.

Each time you get paid, move your budgeted money into the envelope or designated account.

Failure to isolate your Christmas funds will cause your plan to fail.  If your Christmas money is co-mingled with the balance in your main checking account, you’ll spend it and then some.

Step 6:  Prepare your friends and family.

Let your friends and family know that this year, and from now on, you’ll be following a Christmas spending plan and that the plan is in-line with your personal financial goals.

People in healthy relationships support each other and their respective goals.

Step 7:  Remember the reason for the season.  Jesus.

 Relationships

My sisters and I stopped exchanging gifts years ago.  Our tradition is for our families to gather on Christmas for appetizers and family time.  We eat, drink, and play several games of Scattergories.  The details are simple.

     Menu:  Bring what you want.

     Time:  Arrive when you want and stay as long as you want.

     Gifts:  None.

Is this year, the year that you’ll create a new tradition with your family?

Christmas Shopping Is Great

Since I’ve reduced my gift giving obligations, I’ve found the process of Christmas shopping to be relatively easy.  The few gifts I plan to purchase are usually bought online.

I don’t fight the crowds and the temptation to make impulse purchases is gone.  Also gone, is me, justifying buying gifts for myself.  There are no treats for me.  I’m OK with that.

When asked how I’m doing with my Christmas shopping, I smile as I reply, “great!”

Taking charge of your finances is fun when you have the right mindset about your life, values and goals.  Plan ahead, do a check-in with yourself about your values and consider embracing a resolution alternative or two.

Warmly,

Melissa

Melissa Myers,CFP® is passionate about teaching people how to master their money, mindset and achieve prosperity.  Her life changed when she committed to eliminating debt, committed to using a plan to master her money, and developed a practice of expressing gratitude for the abundance in her life.  You too, can shift your mindset, be master of your money and find your prosperity!

[/et_pb_text][et_pb_code _builder_version=”3.0.47″ global_module=”966″][/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.21.1″][et_pb_column type=”4_4″ _builder_version=”3.21.1″][et_pb_code _builder_version=”3.19.15″]

[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.0.90″ background_color=”#ffffff” background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.0.47″][et_pb_code admin_label=”Amazon Code” _builder_version=”3.21.1″][/et_pb_code][et_pb_blog fullwidth=”off” posts_number=”6″ include_categories=”4,82,8,6,7″ show_more=”on” show_comments=”on” admin_label=”Blog Roll” _builder_version=”3.0.94″ pagination_font_size_tablet=”51″ pagination_line_height_tablet=”2″ use_dropshadow=”off”][/et_pb_blog][/et_pb_column][/et_pb_row][/et_pb_section]