Saving Money this Holiday Season

The stores are loaded with holiday decorations and the sales event of the year has begun. Given the current economy, many large discount stores are offering great deals on toys, appliances, televisions and other common gift items. The idea, of course, is to entice holiday spending as if we aren’t really in economic trouble. Are these sales enough?

As with any sale, you have to consider whether it’s really going to save you money to buy something simply because it’s on sale. It’s like using a coupon for a food product you just don’t like. What will you do if your son asked for a specific Transformer but a similar one is on sale? Is it worth the savings to give a gift slightly less than the one he wanted? Tough choices.

Personally, I think we’re going to all have to be very creative this year whilst choosing gifts. My kids are already talking X-Box and I’m afraid that’s a bit over the budget this year. However, buying some new accessories for the Wii might be doable and perhaps some new games. Revamping a former big present might just be the trick.

Remember too that bigger isn’t always better. We spent quite a bit last year on the season’s “must-have” music type game including the necessary instruments only to find the kids were bored with it in less than a month. I can’t say I was really disappointed because they kept playing the same song over and over leading me to run for my foam earplugs! In fact, I think this year might be a good time to scale back this whole holiday season frenzy.

I know when I was a child, I never felt slighted at Christmas, yet we didn’t receive nearly the same amount of gifts as children today. Santa brought us each three new toys (which the elves managed to “make” for less than one toy today) and filled our stockings with some candy, small trinkets and usually something practical like socks. Our gifts directly from our parents were new clothes for school and a new pair of pyjamas.

We were never disappointed and always showed our gratitude, naturally, because we were thrilled. As we got older and our “toy” requests were a bit pricier (new boom box etc.), we received one big present instead of three smaller gifts.

We would all save ourselves a lot of grief by being more practical this holiday season. I’m not saying we shouldn’t spend money because I feel it’s important for our economy to make this a successful holiday season; however, we might consider making more practical purchases.

I mentioned the pampering type gifts such as nightshades and earplugs for those on your list who have trouble sleeping or relaxing. Simple things like homemade hot cocoa mix in an inexpensive tin are also nice to give out to neighbours. Musician’s earplugs make great stocking stuffers and protect your children’s hearing while they play instruments or listen to music. If you have motorcycle or gun enthusiasts on your list, you might consider motorcycle earplugs or shooter’s earplugs.

I think if we all commit to simplifying our gift giving this holiday season, we will have a much more peaceful, blessed season. As well, we’ll be able to tick one thing off our New Year’s resolution list ahead of time: Reduce debt! And that should help the economy as well!

Cheers!

Meghan