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Who Made The Holiday Gift List For This Year?

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Photo Credit Thinkstock

Photo Credit Thinkstock

420x316-grad-lee Dee Lee
Dee Lee is a Certified Financial Planner who received a diploma in...
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BOSTON (CBS) – Christmas is fast approaching and the merchants are hoping you will give into the temptation of frivolous spending. Start with your budget, how much do you have to spend on gifts this year?

Then a list of who you plan on shopping for. Then go over that list! Who can you cut out?

Do you and your neighbors need to exchange gifts? What about your daughter-in-law’s parents? This tradition started innocently, the year they were here for Christmas and you wanted them to have something to open Christmas morning.

Every year since then you send them something from one of the food catalogs. You have been doing this for 20 years! Do you even know if they like smoked cheese?

Pare down the list! Talk to your family, friends, and co-workers for they may feel as overwhelmed as you do.

With your list in hand write down what you want to purchase for each person and put a dollar amount next to the name. Browse the Internet; check out catalogs and the newspaper ads so you have an idea what items should cost.  Then start shopping.

When you are out and caught up in the spirit of the Holidays, it is so easy to overspend. And it is easy to overspend using the Internet as well. They make it so easy!

When you head out to the mall try leaving your credit cards at home and just taking cash with you. Once the cash is gone, you are done shopping! If you have the discipline to do this, you will definitely stay within your budget.

If you are using your credit cards or checkbook, keep a running total of what you are spending as you shop. Put the amount next to the person’s name. Again, once you reach your limits you’re done!

Beware of CSS, the Christmas Shopping Syndrome. That’s where you head out again because you don’t think you have bought enough and you come home with more stuff!

One more thing:  A few more words of advice about shopping: Put on comfortable shoes and go shopping by yourself. Do not take the kids, your mother, your friends or your sister. That may include your spouse also.

They will talk you into too many things. You will be much more efficient alone and there will be no distractions! I do often take my husband because shopping with him is sort of like hunting with the game warden.

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