This post is brought to you by TD Bank and Mom It Forward Blogger Network
Holidays are stressful and when you throw in money issues in the mix, OH MY! My husband and I have different views on the holidays and how to spend money. I grew up with big family celebrations and buying something for everyone. My husband, well he just wants to spend money on us and the kids. He feels we can’t afford the holidays anyway; my kids usually call him the GRINCH. After several years of fighting, crying and being BROKE we came up with a plan.
We had to find a common ground and that took a lot of discussion but if you have open line of communication then you can work through these issues. We sat down last year and discussed each other’s ideas. We had to come up with a plan that worked for both of us! We designed a budget and laid out how the money will be spent.
We compromised and this is how we will do the Family Holiday Giving:
⦁ We will buy FAMILY GIFTS- something they can do together like a game or a movie.
⦁ Kids under 10 will get a wrapped gift
⦁ Kids 10-18 will get a gift card.
Of course, we have to budget for that so we broke down how much we wanted to spend then divided that in 12 month. We have it set up so that the bank will automatically take out our agreed amount each month and that way we don’t have to come up with it all at once. A TD Simple Savings account can help you get started on your holiday savings plan.
I love how we have it automated each month (we have a college fund too for the kids) if I don’t see it in the account then I don’t want to spend it.
For the holidays sit down with your loved one:
⦁ Create a budget
⦁ Set up a plan
⦁ Make a list and have a dollar amount per person
⦁ Research when items go on sale, free shipping, don’t impulsive buy.
Putting thought into gift giving and having a plan will help ease the holiday stress. Always keep the line of communication open and be respectful with your spending. TD Bank will help with your plan. According to the second annual TD Bank Love & Money survey, couples who talk about money at least once a week say they are happier (78 percent), than those who discuss money less than every few months (50 percent). Couples spend a lot on holiday gifts – (plug survey data: $148 on partner, $244 on children, $112 on friends and family; 22% of couples save up for gifts, but 25% use a credit card and worry later.