BOOMER JOURNEYS

Alex Carrier Special Correspondent
Published: August 28, 2008

If you haven’t realized it by now, Monday is Labor Day - the unofficial end of summer.  With that realization comes the certainty that at daybreak Tuesday morning, we shall see or hear the first holiday advertisement.  Yes, on Tuesday, we will have only 115 shopping days until Christmas.
Don’t shoot the messenger!  The point is not to hurry the holiday but to help prepare for the ambush of commercialism as soon as the weekend ends.
If you didn’t realize Labor Day is Monday you may not be aware that many (if not most) Americans are facing an economic downturn.  The average American is facing higher fuel costs, higher grocery prices, more money out and less coming in.  Consumers are cutting back, downsizing and minimizing. 
Reason enough then to take the opportunity to do some planning and preparation for the upcoming holiday season and the material mayhem it brings. 
Before you can be swayed by warm fuzzy commercials attempting to persuade you that the perfect gift (whatever is being advertised) is the only way to bring holiday happiness to those you love, take an unemotional, rational, cold, hard look at your finances.  Know your monetary limitations before you hear the first ho, ho, ho. 
Everyone is in the same boat, even those presumed to be well-off.  Discount stores report seeing a new addition to their check-out lines – customers in a higher tax bracket.  You are not the only one hurting and now is the perfect time to talk Christmas turkey with family and friends to discover ways you can all enjoy the season without increasing your debt and stress levels.
Begin with an honest inventory of your finances.  You should be able to easily and quickly access figures on how much money you have, where it is located and how much money you owe. 
If you don’t already have the information, then take the time to compile it now.  Make this a gift to yourself and your financial future. 
Once you have the information, you can determine how much you can realistically spend on holiday gift-giving.  Make sure you have adequately allowed for retirement and emergency savings. 
Instead of using your regular income and expenses, consider downsizing in some area to save the money for the holidays. 
This will give you a more immediate connection to the person you are giving a gift.  You may find some people normally on your list are simply not worth a sacrifice.
Do you remember each gift you gave each person last year and the gifts you received from them?  This can be a sobering reality check on what is truly important.
Talk with family and friends.  Remember, this is a shared financial situation. 
Consider replacing gifts to each other with time spent together.  Go to a holiday event together as a group.  Pool resources and energy for the holiday dinner or party.  Put your money toward travel to spend time with those you love. 
If you are going to travel, make your reservations now.  Airlines have cut routes and are filling planes to capacity.  If you wait, you may not be able to get to your destination especially at a price you can afford. 
If you must give a gift, give quality not quantity.  Perhaps you can choose names and give only one nice gift.  Using personally compiled gift suggestion lists will help reduce unwanted or undesirable gifts. 
There is plenty of time before Thanksgiving to try your hand at making a gift.  Do-it-yourself is one way of giving your best.
Even if you decide to buy something, starting now will give you the best chance of getting what you want at a price you can afford.  If you do buy something early, make sure you understand and accept the store’s return policy.
The point of planning is not to reduce the pleasure of the holiday but to carry it through into the next year.  Giving is supposed to be an enjoyable experience for both people.
When you hear the first strains of “Silver Bells” and begin to feel the pressure of approaching holiday cheer, remember that you are prepared to embrace the spirit of the season with a doable budget, a firm grip on your wallet and anticipation of a truly happy holiday.