Posted by
Billy email MADBillyD@aol.com on Tuesday, December 01, 2009 12:15:46 PM
Karen Zink, 38, is a stay-at-home mother of three who approaches
Christmas spending with a year-round savings plan and a 7-by-5-inch
notebook.
The notebook, which she carries in her purse, includes a detailed list with
names of gift recipients, a budgeted amount per person and possible gift ideas.
When she buys a present, she writes it down by each person’s name and logs the
amount spent.
Karen keeps a running tally of the expenditures to make sure she stays within
the budgeted amount that she and her husband, Ron, have agreed on and saved
through the year.
Ron, a field service engineer for a medical company, and Karen, who works
part time cleaning houses and an office, have been spared major economic
hardships related to the economy. But the recession made them think about what
could happen, and that was enough to change their ways, said Karen.
About two months ago, the Zinks closedly reviewed their budget again and
decided to pay only cash for certain expenses, so they don’t overspend. They
also listed items like “going out” for which they typically didn’t track or set
aside money.
While they’ve reduced some expenditures, the Zinks still are spending — just
more carefully and with a better accounting of it on paper, Karen said.
( A good thing that these hard times might bring is people will watch this holiday how they spend. Too often around Christmas and Hanukkah people use money they don't have to buy gifts that their children or grandchildren don't need or have too much of. Read more on this issue It’s all about planning.)