S4 Wednesday, November 21, 2018

How to build a holiday giving budget

Spending time with loved
ones and reflecting on all
of the blessings the previ-
ous year has bestowed is a
great way to celebrate the
holiday season. But giving,
entertaining and travel-
ing are part of the season
as well, and that can leave
many people wondering
how to finance their holiday
season.
Many people admit to
spending more than they
initially intended to spend
during the holiday season,
leaving them with sizable
bills to pay come January.
This trend is dubbed the
"holiday hangover," and
MagnifyMoney found that
Americans racked up an
average of $1,054 of debt
during the 2017 holiday
season, a 5 percent increase
over 2016.
Recent data from the
Federal Reserve Bank of
New York says consumer
credit card debt stands
at $808 billion. A por-
tion of that ongoing debt
is accumulated during the
holidays, but it doesn't
have to be. By establishing
a budget and a plan to pay
down their debt, consum-
ers can gift without grief.
The first step to estab-
lishing a holiday shopping
budget is to make a list of
all the people with whom
you intend to exchange
gifts. Jot down charitable
gifts and entertaining/
social expenses as well.
With paper in hand, it can
be easier to visualize just Giving, entertaining and traveling are part of the season, and that can leave many people wondering how to finance their holiday season. [METRO CREATIVE]
how many people are on the
gift list, making it easier to season — no more than a to make such purchases. tally your spending to see few months? Budgeting understand that the value
allot a certain amount to month or two after New However, these gifts should if it aligns. Make adjust- and frugal buying go of the gift is not based on its
each person. Friends and Year's Day. also be factored into the ments as necessary if you hand-in-hand. price tag.
coworkers may receive less Do not feel obligated to overall budget. are on track to go over your Budgets do not need to Budgeting is important
than family members. purchase more than one gift It's important to keep budget. remain fixed from year for holiday spending. With
Next think about a total for each person on your list. track of spending even after When budgeting, keep to year. If this year was a budget in hand, con-
dollar amount to ear- Parents who want to have the budget has been cre- in mind the potentially a banner year in terms of sumers can avoid holiday
mark for the holidays. a few extra items under ated. This way you can see inflated costs of hot items finances, you may be able hangover and potential
This amount is something the tree for their children if you are adhering to your for the year. It can be to afford more. If it wasn't, financial ruin for months to
that you should be able to or who have to finance budget. Record gifts as you tempting to splurge on the you may have to cut back. come.
comfortably pay off in full presents from Santa Claus would checks in a register. latest video game console, True friends and close
at the end of the holiday can set aside more money Take home receipts and but will it be obsolete in a family members should Metro Creative

What to consider when preparing gifts for those who live far away
People move away for
many reasons, includ-
ing access to better jobs, a
lower cost of living, man-
datory job relocation, or to
attend school. Some people
enjoy seeing the world and
make frequent travel part
of their lifestyles.
Distant friends and
family members may be
out of sight but certainly
not out of mind come the
holidays. Even though not
everyone can get together
for Christmas dinner or to
light the Chanukah meno-
rah, there are ways to show
those special people across
the country — or around
the world — just how much
they are appreciated.
Although video chatting,
texting and email can make
it easier to stay in touch,
distance can make shar-
ing the holidays and gifts
a bit more challenging.
However, these gifting
ideas and tips can make
easy work out of sending
holiday cheer across the
globe.
Food
Food can be a one-size-
fits all gift. Exploring the
offerings of food gifts, one
will quickly find there are
all types of options. If a
recipient is living overseas
or on the opposite side of
the country, gift a favorite
local food from his or her
hometown. Cookie or fruit
bouquets can be shipped
and are universally enjoyed
gifts. Treat towers, pop-
corn, cheeses, and much
more are available for holi-
day giving.
Consider size
Large, heavy items
will cost more to ship.
Therefore, small gifts may
be more practical. Consult
with the post office or a
preferred shipping pro-
vider about their pricing.
Otherwise, consider
shipping directly to a loved
one's house. Online retail-
ers usually give shoppers a
choice of shipping address,
and free or low-cost ship-
ping may be included.
Leave ample time for
delivery
The holiday season is a
busy time of year for the
shipping industry. While
shipping companies try
their best to get items
to recipients in a timely
manner, delays can occur.
The best way to ensure
that gifts arrive on time
is to send them a week or
two in advance, which
also saves gift-givers from
having to pay extra for
rush shipping. The
US Postal Service says
international deliveries
can take between seven
and 21 days to arrive,
so leave more time for
overseas gifts.
Try a subscription service
Subscription services,
such as beauty boxes,
recipe boxes and meal
kits, can be a great way to
keep the gifts arriving long
after the holidays have
come and gone.
Avoid breakables
Stick to gifts that
will ship well; otherwise,
you may have to spend
extra time and money
wrapping and insur-
ing items. Clothing gifts,
blankets, stuffed animals,
books, and other durable
gifts can be shipped with
ease and peace of mind.
Gifting loved ones who
live far away requires a
little extra effort. But that
extra effort will show
friends and family
members just how
much they're loved.
Metro Creative