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Affluent Investor | July 27, 2017

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Have You Considered Spending Less on Christmas Gifts? I Have Some Ideas For You.

christmas stocking stuffers PUBLIC DOMAIN

“The National Retail Federation expects people to spend $805.65 on (Christmas) gifts, on average in 2015. That’s average spending per person — with a record high of $462.95 earmarked for family members, according to the survey — so multiply that by at least the number of adults in a family to see just how out-of-control holiday spending is in many families.”

Now consider this, “Experts say that the average family has somewhere around $1,500 in sellable ‘stuff’ just lying around the house”

So take an inventory of what you already have that you can gift to your family and friends: art, furniture, gadgets, things in storage even unused gift cards. How about an older mobile phone that can be passed down to a family member? What about all those collectibles that are now collecting dust?

Possibly the perfect gift is something you have enjoyed that will now bless another. If it is still meaningful to you, it will be especially meaningful to have it passed down.

When I was in high school, my Dad’s boss gave me his own wristwatch. I still have it, now 40 years later. It will one day be re-gifted to one of my children.

And if you don’t have it on hand, possibly you can make it with your own hands. A photo calendar or short video of the grandkids will be cherished for years to come.

Giving should not create financial stress. It can often be more sacrificial to give something you already own or that you make.

 

 

Originally posted on Crown.

Chuck Bentley is CEO of Crown, a non-profit business and personal finance policy and educational organization, and author of “The S.A.L.T. Plan. How to Prepare for an Economic Crisis of Biblical Proportions” and “Root of Riches, What if everything you think about money is wrong?”

 

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