Expense 2-Gifts: Have you ever said to yourself- “No, I can’t afford to buy that gift.” It is human nature to please others and more often than not, we are going to buy that gift for someone we care about. Gifts are sporadic and unpredictable. You may forget someone’s birthday or wedding shower until the last minute; and you WILL buy that gift no matter the “unexpected” expense.
This is why a lot of people go into debt at Christmas. They haven’t prepared or saved for it. This can be a very dangerous situation concerning credit card debt, and can spiral out of control rather quickly, not to mention the mounting interest rates on those cards.
To combat this problem, you should sit down and record everyone’s “special day” (including holidays) on a personal calendar. Figure out approximately how much you want to spend on each person and budget for these occasions ahead of time.
Another great idea is to offer your time as a gift! You could baby-sit, cut someone’s grass, etc. The person would really appreciate it and it won’t cost you a penny!
Have a good gift-buying tip? Post it and share! You could help someone else escape the bite of the gift bug!
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This does work. My best friend is much better off financially than I am. She and her husband have great jobs – but they travel all the time. For her birthday this year, I brought her a home-cooked lasagna – with a “coupon” for 1 more home-cooked meal on a date of her choice. I worried that it wouldn’t be such a great gift or that she wouldn’t take me up on it, but she did about a month later. For me, the financial commitment was not so big – but to her, the home-cooked meal meant a lot. She thanked me a million times. I think she appreciated that gift more than anything I could have bought.