How long does it take to pay for Christmas?

Christmas is a wonderful time of the year. And as my wife reminded me this weekend, it's time to start buying gifts. As always, we put a little back each month so gift buying time isn't a stain on the family budget.

I came across a great article in my Sound Mind Investing newsletter relating to Christmas buying. It tell you how many days you have to work in a year to pay for all those great gifts. It assumes a 7 hr work day, who works 7 hours?

How many days on the job will it take.

Assuming $10 earned per hour and $1,000 spent on Christmas = 24 days

Assuming $12 earned per hour and $1,000 spent on Christmas = 20 days

So if you haven't saved for gifts yet, what can you do to minimize the damage and keep your budget on track? Here are a few gift ideas that could be worth more to the gift getter than anything you could purchase.

1. A gift of service. Make up a coupon book (running errands, house work, shopping)
2. Make a gift. Are you good at something? Photography, candle making, cook a great meal for them
3. Gift of time together. Take a relative out for coffee. When was the last time you just sat and talked with an aunt or uncle?

Non stress time together at Christmas is a true gift to friends and loved ones. It's worth much more than anything money could buy.