During gift-giving season, space out the to-do list and get crafty
It feels like although Sept. 1 has just arrived, and with it, the holidays. Pumpkin spice lattes are flying out the door, Hobby Lobby has Christmas decorations out and the temperature dropped from 96 degrees to 55 degrees overnight.
While we may not know exactly what to expect out of the last several months of 2020, here are some tips on how to make the most out of the holiday season during a pandemic without busting the bank.
▪ Create family traditions: When we think back to our childhood and the holidays, most of us immediately remember a family tradition. For me, that was piling in the car with my parents and siblings and touring the town to look at Christmas lights.
Other ideas may include: Craft an ornament, adopt a family through charity or get family holiday PJs (our newest holiday tradition).
▪ Craft your own decorations: This year is the perfect year to create your own holiday decorations. Paper chains, 3-D paper or popsicle stick snowflakes, coffee filter garland, plastic spoon Christmas trees or toilet paper roll ornaments are just a few ideas to get you started.
Budget $20 for some crafting tools (glue sticks, glitter, plastic spoons, paint, etc.). It’s likely you have most of the other supplies around the house.
▪ Gift outside the box: Depending on your health, you may not be able to physically visit a store to shop this year. Here are a few suggestions for gifts that don’t require you to shop.
Your time (offer a night of child care or plan an activity together – family game night).
Consider gifts to help fund education goals, lessons for a hobby your loved one enjoys or plan a trip when travel is safe for you and your family.
Pick a charity to donate to (either financially or physically) and invite your loved ones along to instill charitable inclination.
Or if you are feeling creative, create a gift for them. Gifts made from the heart often are cherished by family and friends for years to come.
▪ Space out the to-do list: Start early. We are all enjoying a change in season already.
It helps the budget to space out the expenses you may incur. Start shopping sales if you are hunting for gifts or start stockpiling your baking supplies or other goodies.
▪ Start planning for next year: The best advice for surviving the holidays financially is being prepared.
Try accounting for holiday expenses in your monthly budget throughout the year rather than the months leading up to the season. This is especially helpful during years like 2020, when other circumstances may affect your financial situation.
Review your holiday spending for 2020 and develop a plan for 2021. It’s OK to stick to your budget.
We’ve all faced different challenges this year, and letting others know we are thinking of them in any way we can is what matters most.
Kristen Buchman, is a CERTIFIED FINANCIAL PLANNER professional and a member of the Financial Planning Association of Greater Kansas City. At The Trust Company, an independent wealth management firm with four offices in Kansas and Missouri, she is passionate about helping clients attain their financial goals. The Trust Company provides a multi-dimensional approach to financial well-being through investment management, trust administration, estate and charitable gift planning, and more.