For our first official DINKS Reality post we are going to look at budgeting and overspending on a show called Party Mamas.
During the holidays we all have a lot of expenses such as gifts for our family and friends, dinner parties, travelling costs, as well as our office gift exchanges. It seems that everything during the holidays costs money. What about your home, do you have a decorating budget during the holidays? It costs money to decorate our Christmas tree, set our Thanksgiving table, and style our new year’s outfit. Is all of that decorating in your holiday planning or does it break your budget?
This week I watched an episode of Party Mamas where a man was obsessed with decorating his home for Halloween. I have to be honest; Canadians have the impression that Americans celebrate everything over the top. If it is big and large it is American. I totally love that about America!!! I love everything about American holidays from the Macy’s 4th of July fireworks to Rockefeller Center at Christmas.
On this episode of Party Mamas it was actually the Dad who went overboard. His holiday decorating motto was “We’ll put it on the credit card and worry about it later.” This may be the biggest financial mistake that a person can make. It’s the financial equivalent of people who drink because they think it makes their problems go away. When they sober up their problems are still there; when the holiday party is over the bill will also still be there.
The funniest thing about this Halloween episode of Party Mamas was that the candy was delivered with a truck and fork lift….8000 pieces of candy….YIKES!!!! Have you ever had 8000 kids visit your house on Halloween?
This is mass consumption at its worst…and it was all charged on his visa card with a 19.9% interest rate. Have you ever thought about the cost of hosting a party? Not only are the holidays themselves very expensive with gifts and travelling, but if we choose to host a party it is an added financial expense. What is the most amount of money that you ever spent on a party?
The expenses for the Halloween party included $2000 for his costume which included a professional makeup artist, and $3000 for a coffin. They also spent excessively on a custom-made welcome banner, a movie projector and screen that was constantly playing movies on their front lawn, and let’s not forget the 8000 pieces of candy.
Does the excitement of the holidays consume you and break your holiday budget?
(Photo By Chris VanDyck)
Kristina Tahnyak
Tahnya is a Certified Financial Planner and former Investment Advisor turned marketing and communications professional She holds a degree from Concordia University, is debt free and currently works in the field of digital marketing.
In previous years, my wife and I spent quite a bit on holiday decorations, but never as much as what you are talking about from that Party Mamas show. This year, we have actually only bought our annual Hallmark ornament and that is it. We have what we need.
Actually, our biggest party of the year is our Kentucky Derby Party. The food bill for that gets a little higher than I like, but the party is always fun. It’s our one party splurge we have, and it’s unique in our area since we’re in Wisconsin.
I don’t throw a lot of parties at my house, because I don’t like to have people in my space. But I have planned several events for work and friends such as baby showers etc. I always try to stay on budget, but I also always consider my original plan as underbudget. That way when unforseen costs come up I am technically over my original budget, but still within my global budget.
nope, we have no budget…the skies the limit. ok, so that’s not true either, but we plan a menu and just get the stuff that we need for the menu. on the flip side, we do not buy gifts or celebrate holiday’s, anniversaries, or birthdays. The expense for having folks over for xmas lunch is basically any other day event for us.