Money Savin' Mama: Find ways to give that fit your budgetWhen all year long you penny pinch, you run the risk of becoming a Grinch. In the season of giving thanks and holiday giving, I have to remind myself to loosen the Scrooge-like grasp on my purse strings, before three ghosts visit me in the night.
By: Sherri Richards, INFORUM
When all year long you penny pinch, you run the risk of becoming a Grinch.
In the season of giving thanks and holiday giving, I have to remind myself to loosen the Scrooge-like grasp on my purse strings, before three ghosts visit me in the night.
But being generous and being frugal are not mutually exclusive.
It’s all about being efficient with your money, and maximizing what you can give within the constraints of your budget.
Call it frugal generosity. It can apply to Christmas gifts and charitable giving.
One of my favorite ways to give frugally is on Giving Hearts Day.
During the Feb. 14 event, hosted jointly by the Impact Foundation and Dakota Medical Foundation, online donations of $10 or more to select nonprofits are matched up to $4,000.
It’s an easy way to stretch your giving dollar, making a larger impact than you otherwise might afford. A similar event featuring Minnesota organizations, Give to the Max Day, was held Nov. 14.
For food drives, I often donate cans from my pantry, which I’ve stocked when on sale or by redeeming store deals.
For example, Cash Wise grocery stores offer a free, usually nonperishable item with a $30 purchase. If you scan the free item coupon before other coupons, you can still get the item if your out-of-pocket total is less than $30.
Even if it’s an item you wouldn’t use, it can still be put to good use.
That goes for more than food. I’m an advocate of re-gifting, provided it’s done with class. That is, it’s never been used, it would be loved by the recipient, and you’re gifting well outside the social circle where you received.
When I helped pack Operation Christmas Child boxes this month, I collected uneaten Halloween candy and unopened Happy Meal toys from my house. I’ve also given away gift cards I earned for free through MyPoints.com.
When approached with fundraising catalogues, I try to do double-duty, supporting the cause by buying something I can give later as a gift. I do the same when attending home parties or vendor shows.
Gift-giving is part of our household budget. We automatically add $90 every two weeks to an online money market account designated for pet expenses, travel and gifts.
To make the most of those dollars, I try to leverage pre-Christmas sales. I combined a sale price and texted coupon code to get the doll my 5-year-old daughter wanted for half its regular price.
I also hit up post-holiday sales. One year for Christmas, I gave her a Cinderella costume I’d bought at a deep discount the week after Halloween.
The key is to not get hung up on the dollar amount. Just because you found the gift for less doesn’t mean you have to spend more. It’s about the gift – and the thought – not what you spent.
Finally, I like to think about my family’s “needs” when drafting wish lists. Clothes, art supplies and bigger bike helmets are great gifts and already part of the household budget. Both my kids’ stockings will be stuffed with kid shampoo, new toothbrushes and toothpaste.
That way their teeth, like the holidays, will be merry and bright.
May all your Christmases be in the black.
Richards is a thrifty mom of two and reporter for The Forum. She can be reached at email@example.com