Tag Archives: spending

The $100 Holiday Challenge: Can you spend just $100 on gifts this holiday season?

The $100 holiday challenge: Can you spend just $100 on gifts this holiday season?

The $100 holiday challenge: Can you spend just $100 on gifts this holiday season?

With Halloween over, the daylight hours getting shorter and a crisp cool in the air, I’m suddenly hyper-aware that the holidays are just around the corner. If you could see my face it would look like the “scream” emoji. I know that pretty soon the Christmas carols will be blaring from every shop in town and my fellow type-As and I will be in full panic mode.

Last year I tried a $100 handmade holiday challenge. I tried (and failed) to handmade everyone’s holiday gift for just 100 buck-a-roos. I failed the challenge for a few reasons– the biggest reason was that my grandmother passed away last December and really, hand making gifts seemed less important than spending time with my mom. I also didn’t allow myself enough time to MAKE ALL THE GIFTS! This year I’m taking a healthier approach. I’m still limiting myself to just $100 dollars, but I’m giving myself more time and I’m allowing myself to simply buy gifts too.

So how am I going to make or buy almost 20 gifts for just $100? Strategy, people. Strategy. I know that if I divide the money equally I will have a little over 5 dollars per person (or pet) to spend. That’s not a lot to work with. (It’s a stunningly small number when compared to the average estimated $781 dollars that Americans will spend on holiday gifts this year.) I also know that some gifts will be completely free, while others will go over the $5 estimate.

For the challenge I won’t count supplies that I already own. The $100 includes anything purchased. I will be using coupons and George (my husband) and I have agreed to not get each other anything this year. (A tad boring, yes, but we’d rather put that money toward our ultimate goal of home ownership.) For people, like my co-workers, I plan on simply making some sort of baked goods which will cost significantly less than purchasing something.

My holiday gift list consists of:

  1. Mom
  2. Dad
  3. Dog
  4. Sister
  5. Sister’s cat
  6. Sister’s boyfriend
  7. Mother-in-law
  8. Father-in-law
  9. Brother-in-law
  10. Sister-in-law
  11. Niece
  12. Kid Cousin
  13. Kid Cousin
  14. Gift exchange
  15. Friend
  16. Friend
  17. Friend’s kid
  18. Co-workers

Can I do it? I don’t know, but I am sure as hell going to try. It’s going to be a challenge. I’ll update you along the way, of course. Will you join me in the $100 holiday challenge?!

love,
melanie

How to Get Back on the Savings Bandwagon (After You’ve Fallen Off)

Savings BandwagonI haven’t been kind to my bank account this month. (Insert EEEK emoji here.) And I know, the month isn’t even close to being over yet. (Insert shocked emoji here.) I may or may not have fallen off the savings bandwagon and hit every rock, speed bump and pothole on the way. (Is there a wagon emoji?)

It’s been a difficult couple of weeks. I’ve had big projects and big stresses at work. I’ve used that as an excuse to dine out quite a few times, get my hair done and buy myself a few little gifts. At the time, I felt like I deserved it. Now I just feel guilty, disappointed and a little hungover. (Insert all applicable drink emojis.)

Towards the end of the month, George and I are going to a wedding and to Portland. I know it will be impossible to not spend anything for the rest of the month, but I’m determined to get back on the savings bandwagon. Here’s how I’m going to do it:

1. Relax: Overspending happens. It’s a fact of life. Some months I’m going to be looser with my money than others. If I relax and get over it, I’ll be able to learn from my mistakes.

2. Pat myself on the back: It might seem odd to be so kind to myself, but I’m improving. The old me would have just spent and spent until my balance hit $0.00 in my checking account. Then, I would have had to pull from savings to pay my bills for the rest of the month. At least I recognized that I was going down that old familiar road and corrected my habits before I did too much more damage.

3. Add “fun money” into the budget: One of the mistakes I’ve been making is that I’ve been so tight with my budget that I didn’t allow any fun. Too tightly budgeting has put extra stress on me and when I get stressed, it’s easy for me to have that all or nothing attitude.

4. Keep learning, keep researching: Learning new things is a big motivator in my life. Learning, more than anything, inspires me to keep moving and keep improving. To help me learn from my mistakes and learn more about money, I’ve checked out a few financial books from my library. I also participated in a recent professional development session about retirement hosted by my employer.

5. Prepare for next time: I’m going to have crazy days, weeks, months and years. I need to start preparing for those times. This weekend, I plan to freeze a few meals for extra busy weeknights when I don’t have time to cook. I also plan to schedule a few blog posts so I don’t end up writing at 10 pm when I get home from work.

How have you climbed back on the saving bandwagon? How do you prepare for the busy times when savings takes a backseat? Let me know in the comments!

love,
melanie