Santa Claus Is a Giver, a Saver, and a Budgeter
At the end of each year, we watch movies, hear stories and sing carols of the jolly old elf who visits good little boys and girls around the world, delivering presents and joy as he goes. Setting aside the unpleasant consumerism associated with Santa Claus, and, for the purposes of this post, even his historically religious nature, let’s focus on the positive role model that St. Nick offers all of us for managing money.
How does Santa handle his money and his personal finances?
Santa Claus knows what it takes to manage his money properly, and he certainly walks the walk. Living by the “Generosity First” rule, Santa also works year-round to meet his annual goals, so he’s a saver. He also makes a list and checks it twice, indicating he knows how to budget his money and time.
Santa has little choice but to manage his money wisely. After all, his huge operation at the North Pole requires multiple global sources of natural resources and technology. He already has his human… er, elf resources covered, but Santa still needs to pay for things like lumber and precious metals that the North Pole generally lacks.
Like many great financially successful giants of industry, Santa bases his money management on general principles that guide all his daily decisions. Santa’s three main principles include giving, saving, and keeping his expenses organized.
Santa Is a Giver.
This one is pretty obvious. Santa gives and gives and gives with very little expected in return. Even if we leave cookies and milk out on Christmas Eve for Santa, our balance sheet generally tilts heavily in his favor.
So why does he give? And could his jolly demeanor be related to his generosity? “Generosity First” is a motto I was taught by example growing up and one I started to encourage others to consider when I wrote my first book back in 2013. From my experience, I truly believe that those who give generously tend to manage their remaining funds better than those who never give at all. When we stay connected to the needs of others in our communities, we are less likely to make frivolous purchases and more likely to put our money toward important goals. In cases where we truly have no financial resources to give, we can always give our time, our energies, and our support.
With his giving principle in place, Santa no longer needs to decide how much he will donate or to whom he’s going to offer generosity. He’s already made those decisions and just needs to apply his formula (“naughty or nice?”) to set his toy shop in motion.
Yes, Santa Is a Saver.
I love movies about “saving” Christmas. Buddy saves Christmas in Elf by reconnecting with his business-obsessed father and helping to rekindle his town’s Christmas spirit. The Three Spirits of Christmas help to save Scrooge in A Christmas Carol. Tim Allen’s character saves Christmas several times in The Santa Clause franchise. In other movies and shows, Earnest saves Christmas, Elmo saves Christmas, Inspector Gadget saves Christmas, and even Noddy, Mr. Hoopeyloops, Diego, and Hercules have apparently saved Christmas at some point.
Santa Claus, though, actually saves FOR Christmas. He and his elves work year-round to ensure their toyshop is prepared. It would be easy for Santa to justify waiting until the kids are back at school in August and September to start thinking about the Christmas rush. I am not saying Christmas Eve is not a hectic time around the North Pole, but it would be a complete flop if Santa did not build and save toys all year for the coming Christmas Eve activities.
To be honest, I use to struggle all the time to save any money at all. Heck, if it weren’t for automatic savings and remote check deposits, I would have no savings habits to speak of today. I am doing better than I used to, though. When Christmas Eve used to roll around, I would frantically run to the local discount store to browse the disheveled and nearly empty shelves for anything I could afford for my wife.
Fortunately, I opened up a savings account into which I contribute throughout the year for some Christmas and birthday gift-giving money. Now, whenever I receive a reimbursement check or other income outside my normal salary, I use the mobile deposit feature on my credit union’s app so that I do not even have to go into the branch. Good thing, too, because I would be tempted to get cashback and spend it on dining out at lunch or some other luxury (like chocolate).
With his own saving principle in place, Santa doesn’t wonder whether or even how much to save. He has made regular savings such a normal part of his life that it just seems to happen automatically. Ever since Santa made savings a habit, he has never worried about it or felt anxious over whether he could afford to make deposits. Making savings a habit actually freed Santa from many stressful financial situations.
Santa Is a Budgeter.
It even says so in the songs about him. He doesn’t only make a list. He actually uses it regularly and checks it for mistakes. I would bet that Santa even carries his list with him wherever he goes.
What a great example of being financially organized! A few lists that would be helpful for us to put together and look at regularly would include a list of two or three of our most important financial goals, a list of our expected income and expenses for the month (yes, a budget), and even a list of possible gifts for upcoming birthdays and holidays. I use an app called Trello (any list-keeping app will do) to curate a list of ideas my wife mentions throughout the year. I still miss a lot of them, but at least I am not at a loss for what she likes when Christmas Eve rolls around. Unfortunately, I still find myself running to stores for last-minute shopping, but at least I have the savings to cover the purchases.
The biggest challenge with lists, though, is checking them twice. At various times in my life, I have created what I consider to be several “perfect” spending plans. Unfortunately, unless I went back and looked at these plans regularly and adjusted my spending accordingly, they ended up serving no purpose.
With his own list-making principle in place, Santa doesn’t need to stress over forgetting his obligations. With centuries of experience, Santa knows that humans make mistakes with their own finances but that through habitual list-making and checking, mistakes have essentially been reduced to zero.
This year and every year, as you give, save and prepare, we wish you and your loved ones a Merry Christmas, Happy Holidays, and a Prosperous New Year!
