Last Minute Christmas Gift Ideas For Your Children
Today we have only six more days before Christmas. Many of my clients are saying that they are feeling the CASH crunch. So, I put together a list of tips to assist them with their holiday budget as it undergoes the demands of last minute shopping…
So, for me the biggest Budget Bullies, are my children. Oh my! So a few years ago I started implementing this method called the Gift Of 4! Here is how I use it…
Each child receives 4 gifts.
1. Something, they really want. Because… I believe in the power of desire. It keeps us healthy and financially motivated!
2. Something to READ! Nooo, they don’t have to read on Christmas day. Buuut, they do receive a book that I read along with them and assist them in creating a book report for.
3. Something to wear. My 7 & 9 year olds run through shoes. No, seriously. You would think they are training for a triathlon in mud! Everyday!
4. Something to save. Children, need to feel and touch money… So that they know it’s REALLL and does not magically appear through some sort of osmosis!!
How much should you spend on all of this? Well, everyone has their own budgeting methods. I’m going to share what works for me. I hate spending money and then feeling guilty after I do. It’s the Purse Pits, for me… I find that when I create a budget boundary, I can maintain some self-respect for me and my money.
So, here’s how I determine my budget for Christmas gifts:
I take my annual salary for the year and divide it by 2% and voila! That’s the budget that I use for shopping! Simple, right?! When I calculate my gift budget this way, I feel good shopping. I don’t feel my inner Purse Police saying, “Put that back. That’s too much!” I feel like my Purse is Empowered!
The average American’s salary is $50,000 a year, so a budget of $800 for Christmas shopping is suitable for that income. According, to the National Retail Federation the average American spends about $1,100 on holiday gifts. So keeping yourself under that amount should have you feeling like, “Okay, I shared some love, but I did not over do it!” #PurseEmpowerment
As always, thank you, and thank your money-wise self, for connecting with me to maintain a healthy relationship with your money. If you could use more money motivation, or you want to get a head-start on your budgeting and credit goals for 2020 and the new decade this year is ushering in; head on over to purseempowerment.com and click on “15-minute FREE Consultation (over the phone)” to schedule a free 15 minute session phone consult with me.
Shani Curry St.Vil
Personal Finance Expert
p: (954) 394-0532
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