Living Rich: It Really IS the Thought That Counts

Many years ago, I would rush through the holiday season. I ended up buying gifts in a hurry and spending far too much. In a way, I thought this was a chance to "make up" for being so busy with work all year. I figured that lavishing my loved ones with expensive gifts would show them how much I appreciated them.

Wrong! Expensive does not always mean better. You could spend thousands on earrings for your wife... when a CD of the band that played at your wedding would be much more meaningful.

No one expects you to shell out a week's salary on a gift. Your loved ones will welcome a less-than-lavish gift. Especially if it is a thoughtful gift that they need or will actually use.

In my experience, the more time I give to thinking about the person... the less money I end up spending. My formula: The right gift = the best value (in even more ways than dollars).

Here are some ideas that it's not too late to implement:

Think about your gift recipients' hobbies. Golfers are fun to shop for. They are always happy with new golf balls or gift cards from their club's pro shop.

Give a gift certificate for a few movie tickets or a meal at a nice restaurant. With all the hustle and bustle at this time of year, a night out on a gift giver's dime is a welcome relief AND an enjoyable experience.

Give a friend or family member who loves to read a recently published novel or a first-edition copy of their favorite book.

Be creative. Custom-make 2011 calendars for everyone on your list. Use pictures of your friend's children... photos taken during company events for your coworker... sunsets for the nature lover... city skylines for the travel buff. You get the idea.

Schedule an appointment with yourself to think about your gift-giving strategy. Make a list of everyone you still need to buy for. Write out a realistic budget. (Don't use "ghost dollars" that you'll get back from a tax refund in April.) Then give some serious thought to what you want to buy for each person. The more thought you put into a gift, the less you'll spend.$

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