No matter how frugal we are, everyone eventually ends up spending money. Christmas is coming up so the need to make difficult buying decisions will fall onto our shoulders. It is at these times that people who are frugal can really spend much less money than people who aren’t.
It is also during these holiday times when our wish list suddenly pushes itself onto the forefront of our minds. Not every wish list item is created equal however. Some can cost tens of dollars while others can be hundreds, if not thousands.
We cannot buy everything and probably cannot even afford some items on the list. I for instance can scratch the Ferrari off this Christmas’ shopping list so let’s not focus on those. Do we just buy the most expensive item on the list that’s remaining? Is putting a monetary value to it appropriate?
What do you think? How do you decide what to get for Christmas, either for yourself or for others?
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{ 10 comments… read them below or add one }
Well, my wife and I have set spending limits for everyone on our list so we will buy the thing(s) we think the person we are buying for will enjoy the most. Within our limit of course.
My husband and I also set spending limits for each other and for family members.
Most importantly, we can’t be worried about what someone is going to think of us and base our buying decisions on it. If we think we’ll be looked down upon for not getting expensive things, then we’ll be more apt to buy.
Stop caring about what others think and do what you think is best for them and for your finances.
FinanceAndFat & Carrie: Hmm. It seems like many people budget even for Christmas gifts! What a great way to handle this!
Fiscal Musings: I think if we think those people will think bad of us for getting something that isn’t expensive enough, we shouldn’t even get them anything!!!
You don’t necessarily have to stratch the Ferrari off the list, just get a toy model. Isn’t that what they say, it’s the thought that counts?
Not only is it the thought that counts, who knows you could provide that person with inspiration to make it for themselves to get that Ferrari?
As for myself, I hate shopping for the holidays. Sure there are terrific deals but everyone is their own taste.
A few years ago I stumbled on the best gift by accident when I simply had no idea what to buy. My grandmother used to send me new underwears for Xmas every year (Fruit of the Loom by the way).
It was the thought that counted but to see these white underwear under my xmas tree every year was kinda a killjoy for a young kid. I rather have a Star Wars action figure.
Anyways, I started buying my favorite hiking socks, SmartWool and tried it out and loved it. So I thought what a better way to think of someone than to keep their feets warm during the winter.
Big mistake, now everyone is bugging me for more SmartWool. The sweet thing is I actually saved more money because it is fairly stable in terms of price.
So now everyone is looking forward to “I’m getting SmartWool from Mark. I don’t care what else I get”.
Some people are just plain goofy at this time of the year ehh?
Mark: Haha it’s funny how things work out isn’t it?
I’m glad that you found a “Mark” gift for everyone! You found something everyone will remember you by and you get to save money in the meantime!
My kids each know the $$ amount I have to spend on them (all are grown) – some years they need the $$, other years they are happier with garage sale gifts, as that stretches the $$ further.
For my 8 grandkids, and the nieces and nephew, I have a set budgeted amount. That’s it. My siblings know my budget amount for them also – they are happy just with being remembered, so that is easy
I buy all year round, whenever I find something. It goes in the closet in boxes by family. There is no saving up required, and I am usually done by Sept, or Oct by the latest. No pressure, no stress
I wonder how much some of these answers would change this year with the way the economy is going…
Mine answer won’t change. It being October, I’m done with Christmas shopping
And starting in on next year. Same budget.
im havin trouble i have 100 to 200 dollars to spend for my whole faimly i have 3 kids my husband my parents my brothers my necis and nefews and my uncles and such !!!WHAT SHOULD I DO!!!