The Holiday Plan
Hi Money Masters!
First of all, I sincerely hope you had a wonderful Thanksgiving. Now that we’ve recovered from stuffing ourselves with turkey and all the other goodies that go with it, we can turn our focus back to our finances… for the next set of holidays! This time of year can be so beautiful and joyous while we celebrate with our loved ones. Because of the close timing of the major holidays, it can also be difficult to stay on track with spending and saving. That’s why it is important to involve your whole family in a “Holiday Plan“.
What Is A Holiday Plan?
The definition of a holiday plan is simple: to ensure all family members and friends are on the same page as far as gift giving and other expenditures. Creating a concrete plan for such concerns as who to give a gift to, what food to serve/bring, and who will provide entertainment will divide the responsibilities among everyone.
This way, all financial expectations are outlined in an organized and fair way (no one wants family drama around the holidays).
Implementing the Holiday Plan
The first step in implementing the holiday plan is communication. You can create a Facebook group, an email chain, a calling tree, or a group text. It’s up to you 🙂 Next, you will want to decide on whether or not to give gifts to adults and children, children only, or no gifts at all. If you are giving gifts, set a BUDGET. Put a cap on the amount of money a person can spend on a gift. Make sure to consider everyone’s financial situation and settle on a range that is affordable for all involved. A great way to save (especially if you have a large family) and have fun is by opting for doing a “secret Santa” exchange.
Also decide on who will bring food items, beverages, entertainment, etc. to the holiday festivities. By staying on the same page with the holiday plan, the season of celebration will go smoothly for you and your family and friends, I promise! 😉