As the saying goes, “It is more blessed to give than to receive”.
Yes, human beings have an innate need to give. Don’t you notice that when you do something for someone or give them a gift or donate to a worthy cause, you feel good as well? Feeling generous is a very beneficial feeling for the giver too – it’s not just the recipient of the gift who benefits.
The Common Stress during Festivities
Generosity is a much-valued trait. But when cashflow is really tight as it is for most folk, any festive occasion or celebration requiring expenditure, can cause stress. Weddings, birthdays, anniversaries, Christmas, Hari Raya, Chinese New Year, Deepavali, the list goes on – they all have one thing in common, which is that they all involve expenditure.
Let’s think for a moment about why we feel stressed. Partly, it’s because of the strain that the added expenses will place on our budget. But maybe even more than that, is the feeling of conflict. Conflict between wanting to be generous and spend on ourselves and our loved ones, and the reality of how much that expenditure will impact our wallet and monthly budget.
If we think about it, we’ll see that this is really where the stress lies. Unlike a normal expense, where you can choose to forego the item, the option is not really available for celebrations and functions, especially when family and close friends are involved! One cannot for example, opt not to purchase a gift or to give a cash gift, when attending a wedding! This would be viewed as an unacceptable social faux pas.
The knowledge of what is expected, and yet not being able to afford to live up to expectations, usually results in stress. It is also often depressing to feel that you are not able to afford to give generously. It can affect your self-confidence and lower your feeling of self-worth.
How to Avoid the Financial Stress
So, what’s the best way to avoid the stress? Well, try careful planning to create a framework in which you still get to feel generous, while at the same time, not placing excess stress on your monthly budget. Here are some easy tips to help you plan ahead and reduce stress closer to festive occasions.
Create a Festive Budget
Create a festive budget. Make a list of all the festive events coming up, and a sub-list of expenses/gifts and purchases to be made. Divide them into categories such as personal/family expenses, and third party expenses. Assign a budgeted figure to each line item, add them all up and divide the cost by the number of months left before they are incurred. You’ll have a very rough idea of your monthly expenses for those items. Try putting aside a little extra every month especially for these expenses.
Create Extra Cash
Make a plan to create extra cash . If you are able to make extra income on the side doing a part time job or pursuing a hobby, great. But how about those of us who do not have the extra time as we spend most of our day in our offices?
Here’s a tip – try going through your monthly budget and cashflow statement and identifying expense areas that can be trimmed. For example, petrol and parking fees. Could you limit non-essential trips, bunch your errands by area, car pool, take public transport if it works out to cost less than fueling your car and paying for parking?
Also, look at your dining out expenses. Yes, the temptation to eat out is very strong as these days, both spouses usually work and if there is no domestic help at home, it’s very tedious to cook after work especially if the wife comes home from work late. Yet, the reality is, it is very much cheaper to cook and eat at home, let alone much healthier.
Track your festive budget and work on your plan all year round.
Every month, check your festive spending plan and plan ahead for the activities of the next month. As Malaysians, we like to spend a lot of time at shopping malls. Often this is just to “hang out” and enjoy the free air-con. But we could put this time to good use as well, by looking out for sales and discounted items.
If you know you have a festive season coming up or a wedding or birthday to attend, why not purchase the item in advance on discount or at the special offer/sale price? Also, check out the world of online shopping. Amazing deals are available on the online platform, together with vouchers for discounted goods. Take advantage of your credit card points also, to redeem useful household gifts that could make wedding or housewarming gifts. This kills 2 birds with 1 stone – it allows you to defray your expenses over a longer period of time and also, to take advantage of good deals and better prices.
Be Creative! Make your own gifts.
Ok, so this one might not appeal to all of you. For example, it could be assumed that not many guys would be into making their own gifts! But this may not hold true for all guys – so for all the creative ladies (and gentlemen!) out there, do try your hand at making gifts.
If you have an interest in art, carpentry, baking, sewing, crafts, flower arranging, cooking, beading/jewellery-making, gardening, soap or candle making, there are endless possibilities to create thoughtful, home-made gifts and cards that would be more appreciated than something bought in a store.
It is the thought that counts, when it comes to giving gifts during celebrations. Using these tips, it is hoped that you will be able to focus on what counts most in the spirit of generosity and giving.
