Recent census reports showed that householders
65 and older saw a 2.6% decline in annual income. Over half
of U.S. elders struggle on less than $2,000 a month. While
living on a fixed income they must shoulder increasingly higher
health costs and rising prices. The added expense of winter
fuel puts many at a disadvantage during the holidays. The
expectations of children and grandchildren for gift giving
push many seniors who can ill afford extras for themselves.
But for those willing to reframe the way they do holidays
there are strategies that can ease the financial burden.
First, consider limiting the number of people you buy
gifts for. Some families draw names and buy for only
one person instead of a tribe. It cuts down on expense,
shopping difficulties, and the stress of having to locate
just the right gifts for numerous people. And let's face
it, most of us already have more "stuff" than
we need.
Secondly, discuss setting a dollar limit for gifts you
exchange with family and friends (and stick to it!).
Even a five dollar limit adds up quickly when multiplied
by the number of people you shop for. Dollar limits inspire
creativity and even friendly competition to see who can
do the best with less.
Some families decide to forego individual gift giving
and pool their donations to a worthy cause. There are
many charitable non-profits that depend on donations to
do their good works. Local humane societies and food shelters
are close-to-home organizations that can turn your dollars
into gifts that help. Global organizations like Oxfam, Heifer
International and Save the Children will welcome your family
donation and use it to provide aid in suffering countries.
Your small donation grows more powerful when combined with
that of your family and friends. For those who must shop
and don't want to feel limited, it's helpful to squirrel
away money throughout the year in a holiday fund to cover
expenses. Others do it differently by shopping in small
doses year round, beginning with the "after Christmas"
sales and picking up special gifts as they find them during
the next eleven months.
For some, frugality is becoming a more respected life skill
in our material-driven culture. Doing Christmas on the cheap
may require a larger investment of personal time over money,
but the satisfaction that comes with creating unique homemade
gifts is hard to beat. Here are a few ideas for personalized
gifts that require some time but little money.
1. CHRISTMAS ORNAMENTS. Buy them on sale after Christmas
or make your own.
2. MUG OF MINT. Pair a new mug with a box of peppermint
tea, wrap with a bow and add a few candy canes for stir
sticks.
3. JAM BASKET. Recycle a small basket by filling it with
a jar or two of jam, a cloth napkin or bandanna, and a muffin
mix.
4. MEMORY JOURNAL. Create a collection of your early memories
to pass on to your family. You'll be saving more than money
with this labor of love by preserving family history.
5. FOOD GIFTS. No one can turn down homemade jellies, bread,
cookies or nut mixes. Include your recipe for a gift that
can be duplicated throughout the year. Keep in mind any
diet restrictions for the person on the receiving end.
If you are on a tight budget, stick to it. While the holidays
are meant
to engender joy and generosity, they are never worth putting
yourself in debt. And if you are on the receiving end, request
that your family
give you useful gifts ranging from the truly practical to
the sublime:
rolls of postage stamps, gift certificates for heavy housecleaning,
a
promise of a ride in the country next spring, or a trip
to your favorite restaurant...so much better than "stuff!"
RESOURCES
- www.frugalliving.about.com
(online guide to resources for stretching
your dollars)
- Cheapskate Monthly Newsletter ($18/year, 1-800-550-3502)
- Cheap Talk With the Frugal Friends: Over 600 Tips...for
Saving Money
(A. Zalewski, c2001. $10).
- How To Save Money Every Day (E. Kay, c2001. $11)
Senior Help-Line (1-800-642-5119). Can direct you to information
and
agencies that help seniors under financial stress.
