Monday, August 20, 2012
$100 Christmas Challenge
Painting by Viggo Johansen
I have set aside $100 cash for Christmas. I also have a $25 gift card to Olive Garden that I got from credit card points, as well as a night at a hotel on the beach that I got with credit card points. I also made some homemade raspberry jam that I can use for gifts. That's not too bad for a start.
How much do you spend on gifts? In the CNN Money, "New Rules for Gift Giving", Chuck Langham, the founder and executive director since 1979 of SCROOGE -- Society to Curtail Ridiculous, Outrageous and Ostentatious Gift Exchanges -- offers this formula: ''Spend no more than one-half of 1% of your annual income on Christmas gifts.'' If you earn $50,000, that's $250.
I am still going to do the $100 challenge. There are a lot of people who are currently unemployed, underemployed or having financial difficulty. Maybe it will help them to feel some support if others are trying to spend a minimum amount of money for Christmas, too.
However much you choose to spend, focus on trying to make the holidays more meaningful.