Saturday, January 05, 2008

A few learnings from Holiday 2007

Wow - holiday season really takes me by storm. Finally I'm back from my trip to Hong Kong. Here's a picture of our tree - it was truly beautiful: glistening with lights and adorned with ornaments that I've collected over the years (I try to add a couple unique finds every year). The presents? Well there was barely any space left under the tree =)
A few quick learnings:
1) People generally like to give things that they would prefer to receive.
So this year, record what you have received and start plotting out the trends of gifts from friends and family. You may discover that Uncle Bob has been giving you a collection of sports memorabilia even though you are not a super fan.
2) People overspend when they don't know what to buy.
Next year, start a $50 cap. So everyone needs to spend their budget creatively putting together hand-made gifts or kits.
3) Distribute the stress on the credit-card.
December can be a pretty stressful month for your credit card bill. Here's one trick I stick by: when I see something "perfect" for someone - I buy it, even if it's July (definitely when there's a summer sale). This way you can distribute your spending and get things that you know people will love without having to do the last minute scramble for fragrance or cologne.