Common Cents Budgeting Tips

December 2004

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In This Month's Issue
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Inspiration for the Month
From The Budget Coach
Featured Tips or Information
Insights for Giving and Receiving
Recommended Resources
Contact/General & Unsubscribe Info

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Inspiration for the Month
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'Never spend your money before you have it.'
--Thomas Jefferson

'Remember happiness doesn't depend upon who you are or what you have. It depends upon what you think.'
--Dale Carnegie

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From The Budget Coach
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Welcome to my 'Common Cents Budgeting Tips' Newsletter.

I'm delighted to have the opportunity to share these tips with you. Remember, you are a vital part of this whole exchange and if you ever have questions or some valuable experience or resource you want to share with others, please don't hesitate to let me know.

Many of the new sections that were added to The Budget Kit workbook over the various revisions these last many years, came from insightful readers and clients like you who wanted to help make a difference.

'Common Cents Budgeting Tips' is published monthly. The focus of this monthly newsletter is to provide you with some quick money management tips and ideas you can immediately begin to use. I may go bi-weekly and add a second issue soon to touch on the personal side of money and budgets.

Remember to email me judycents@moneytracker.com with any tips, resources or comments you would like to share as well as any questions. Working together is how we can all make a difference in our financial lives.

I am offering a complimentary 30 minute coaching session with me.

I would love to hear how you are doing and help in anyway I can. For your free session, email me with 'Time Slot Request' in the subject area.

Have a fulfilling and prosperous day!

To Your Success,

Judy Lawrence
Personal Budget Coach
Best-selling Author, The Budget Kit, 4th Edition
judycents@moneytracker.com
http://www.moneytracker.com

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Tips & Information - Insights for Giving and Receiving
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Does this time of the year start making you feel warm and fuzzy or anxious and stressed?

The concept of giving and receiving, whether gifts or helping someone out, seems simple enough, yet after many discussions with clients and friends, I continually see that both areas are very loaded issues.

Budgets and Giving

Giving and receiving definitely involves more than the material gifts, especially when you add money, emotions and past history to the mix. Let’s start with the giving side. From a pragmatic budgeting perspective, I will always recommend the standard tips:

Make your list of everyone on your gift list. (Don’t forget your hairdresser, vet, mail carrier, teachers, boss, secretary, pets and all the others)
Decide on some dollar limit and add this next to the person’s name. (Be thinking of a few different gift ideas as you create this list)
Remember all the other added holiday expenses and write these down. (Things like decorations, trees, wreaths, postage and shipping, wrapping paper, cards, crafts, plants, beverages, parties, donations, workplace events, clothes, trips, boarding the pets, entertainment, etc.)

Note: After years of counseling people, I continue to see this holiday expense category as the most overlooked area of budgeting, and one that usually adds, at least, an additional $3-500 to the budget.

Be sure to total up the dollar amount for BOTH the gifts and added holiday expenses.
Is this total amount in alignment with your personal priorities, values and budget? Are there adjustments you want to make?
Outline a plan for covering these costs and/or consider resourceful and creative ways to still enjoy the holiday and not go into deep debt. (How much money will come from the Christmas Club savings, regular savings, overtime or part time work, gift money, bonuses, charge cards, delayed charges and any other sources?)

If you are going to be charging expenses, remember to work out a plan for paying off that amount when the bill comes due.

If you have a copy of the Budget Kit: Common Cents Money Management Workbook 4th Edition, be sure to review the whole gift section that has the worksheets for “Gift Giving” “Christmas/Holiday Expenses” and “Source of Money for Gifts and Holiday Expenses”

Emotions and Giving

Now for the more loaded side of giving. If this whole giving process triggers your buttons, consider your motivation behind the giving.

As an absent parent or spouse, are you wanting to make up for your lack of personal attention and time by lavishing gifts?
Is there some part of you that doesn’t feel good enough to someone else by just being who you are, and somehow the expensive gift is meant to make up the difference?
Is more expensive supposed to mean more love?
Is it too embarrassing to discuss the topic of current limited finances with family and friends, so rather than give a modest thoughtful gift (or no gift), you go into debt for appearances?
Are you giving out of obligation because someone always gives you a gift and you are too timid to say you would rather spend time together instead of exchanging gifts?

These are only a few questions to consider. They are not intended for you to use for judging yourself. Once you know what is really behind the spending, you have choices for changing that behavior. Many families have started talking about their tight budgets and are relieved to realize there is now consensus on cutting back on gifts.

Options for Gifts

Options for handling limited budgets include:

drawing names,
serving at a soup kitchen or other community service as a family,
taking a small trip and not giving gifts
offering personal assistance (help on the computer, assembling packaged toys, electronics or furniture, painting and wallpapering, baby sitting, making meals)
giving small personal thoughtful gifts ( digital photo calendars, a song, poem, creative scrapbook).

Receiving
So, now how are you with the receiving side? Are you the kind who loves to give to others, yet have a very hard time receiving anything from others?

Have you found yourself uncomfortable receiving a gift you felt was too expensive?
Do you feel guilt or resentment because you can’t reciprocate in kind?
Do you feel you don’t deserve to receive such an expensive gift or feel you are being selfish receiving it?
Do you start to compare yourself and feel like you can’t measure up and feel “one upped” and now you’re on the lower end of the power dance?
Or… do you just graciously and genuinely accept the gift and say “Thank You” and then just appreciate and enjoy the heck out of your gift and let go of all the inner chatter?

Remember, it’s really a two-way dance. For the giver who has a hard time receiving, it is important to realize that others want to have the opportunity to give so they too can feel special like you do when giving – whether it be a gift, a service or a simple gesture of help.

So this holiday season, if someone genuinely gives you a gift or offers to help you get ready by running errands, doing the baking or decorating, instead of immediately resisting and trying to handle it all yourself, remember the gift of receiving can be just as important and powerful as the gift of giving. So graciously accept their offer and be sure to enjoy this holiday season.

Thank you so much for being part of my online “family”.

Have a very blessed, joyful, and abundant holiday season.

For more information feel free to contact me at
judy@moneytracker.com

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Your Question for the Day
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Do I sometimes buy things I don't need with money I don't have to impress people I don't even like or to fill some emptiness I don't even know exists?

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Special Offers for the Month
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FREE 'Budgeting Without Tears' e-Course

If you haven't already, sign up for my f.ree e-course 'Budgeting Without Tears'.

You will receive a series of educational tips to help you get your finances in order and your budget plan started. Granted, you will not be supplied with all the worksheets, road maps and formulas that you get in The Budget Kit, but this will provide you with additional information that will prove to be very useful in getting started!

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Resources
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A network of non profit community organizations providing
consumer credit education and debt management services
http://www.nfcc.org/

Association of Independent Consumer Credit Counseling
Agencies (AICCCA)
http://www.aiccca.org/

Article on CBS MarketWatch site
CBS MarketWatch - Credit counseling industry in upheaval

Nonprofit resource for financial information and personal
finance education
http://www.financial-education-icfe.org/

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Books by Judy Lawrence
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Feel free to visit my Money Tracker website to learn more:

http://www.moneytracker.com/books.htm

The Budget Kit:Common Cents Money Management Workbook
The Money Tracker: Find the CASH to Get What You REALLY Want
Daily Riches: A Journal of Gratitude and Awareness
The Family Memory Book: Highlights of Our Times Together

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General, Contact & Unsubscribe Info
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