I’m Not Crying, You’re Crying

It may come as no surprise that the end-of-year holidays have been on my mind since this financial challenge began. Although I’ve been contributing to a savings account designated for gift purchases, I’m keenly aware that this is a competition to save money, not spend it. Planning ahead for gifts is already an improvement from past years and certainly helps reduce stress. In addition to my four children, I have multiple nieces and nephews, so the gift fund has already proven to be extremely helpful for budgeting birthday presents. I’ve been alluding to an upcoming blog post on this “envelope system” technique and I’ll say it again – it’s coming very soon!

The holidays are hands down the most stressful time of the year for me. I try to get a head start by buying specific items that I have in mind for the kids early in the fall. Then, life happens, and I surrender to a last-minute, frenzied shopping trip. Spending evenly between the four kids is a challenge, given their differing ages and areas of interests. Keeping the gifts equal in number and price is quite a balancing act! Each year, one or more of the kids ends up feeling like they’ve gotten the short end of the stick. Despite trying my best, I usually end up feeling like a failure as well.

This year I am taking full advantage of my participation in Project Money by doing something I’ve wanted to do for years but have never initiated. Instead of getting a pile of gifts to be opened and almost immediately discarded, I am letting each child choose a charity that will receive a donation from them. This approach will be a lot easier to budget for, since I am already on track for saving a specific amount for each child. As an added perk, I won’t have to account for the uncertainty of gift prices.

We’re doing this as a family, so I am participating as well. I’ve contacted the North Pole and selected the “stocking only” option for our address, so that part is all wrapped up. We’ve been discussing some organizations that hold special meaning to us and I will reveal one of our chosen organizations each month, starting in August!

There will still be plenty of the customary cookie baking, sparkly decorations, cozy winter jammies, and cheerful holiday movies. My hope is that by doing this, there will be an added level of holiday spirit in our home this season. Each of the kids picks out a new ornament for the tree every year and I’m hoping this new tradition of choosing a charitable organization fits right in!