Amid the rush of the holiday shopping kick off and the excitement of the first winter flurries comes the start of another celebratory holiday tradition: Secret Snowman.
My best friends and I draw names just after Thanksgiving to determine our respective giftees, giving us plenty of time to shop and give before the New Year. Being the sensible group of young professionals we are, we set a reasonable spending limit of $25 for our gifts.
Even with that modest budget, $25 still gets stressful when added to the pile of financial obligations surrounding the holiday season. I decided I could swing the expense to keep the annual tradition going with my besties, but when the same opportunity arose at work, I had to pass.
As my coworkers excitedly speculated as to whose name they’d draw and what gifts they’d give, I sat at my desk calculating my capacity to stretch my holiday budget to accommodate yet another $25 commitment. It’s not just peer and holiday pressure that had me rethinking my decision to opt out, but it was my genuine desire to participate and be a part of the joy surrounding this seasonal tradition.
Unfortunately, that desire to take part often comes at a high price, which includes post-holiday debt. According to a study conducted by market research company Harris Interactive Inc., households earning between $50,000 and $75,000 annually will take an average of 2.6 months to pay off their holiday debt this year.
So while another $25 might seem trivial now, when faced with the reality of those post-holiday debt numbers, I feel much better about passing on the three month price of participation. But that doesn’t mean I want to opt out of the holiday celebrations entirely.
As an alternative to debt-inducing holiday spending, here are some ways to spread the cheer in other low and no cost ways:
Offer assistance. Just because I’m not spending on a workplace Secret Santa doesn’t mean I won’t be helping out where I can. That includes acting as an elf, delivering gifts on behalf of others and finding out what everyone really wants and reporting to the appropriate parties. Opting out of spending doesn’t have to mean opting out of the season entirely.
Offer expertise. One of my coworkers recently approached me about her finances. In anticipation of some major life changes, she’s looking to kick off 2015 with her financial house in order, so we chatted for a half hour on how she should start. While I was admittedly disappointed that I couldn’t swing the expense of Secret Snowman, I was happy to offer my expertise in a way that provided value to one of my coworkers in a much greater and more meaningful capacity. Ask yourself what you can offer. Your expertise may prove far more valuable than what your budget allows you to spend anyway.
Get sentimental. The older I get and the more responsibilities I take on, the less time I find I have for sentimentality. Thanks to technology and digitized everything, my memories are everywhere but consolidated nowhere. Don’t underestimate the power of collecting someone’s photos and memorabilia and organizing it all in one place.
Unlike material purchases that depreciate in value from the moment you leave checkout, memories appreciate over time. Preserve them and share them with your loved ones throughout the holiday season.
Give away your freebies. After years of travel for work, my mother has collected an arsenal of airline miles for complimentary travel. Even I have accumulated enough points over the years for some free hotel stays. These “freebies” can make a highly valuable gift for someone else, especially when you know you won’t be able to use them before they expire.
Create low cost traditions. The holidays are about coming together with friends and family and connecting in new and old ways. Traditions, like gift giving, are a wonderful way to celebrate, but they’re certainly not the only way. Implement new holiday traditions that don’t come with a high price tag, including cooking together, playing games, decorating, caroling or simply chatting and sharing stories of another year past.
Share the love. Take your holiday leftovers out to the nearest homeless shelter or person in need and spread the love with a hot meal and a bit of companionship and conversation. This is a great way to engage the whole family in a low cost holiday tradition while sharing with others, too.
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How to Celebrate the Season Without Spending originally appeared on usnews.com
