If you're agonizing over a last-minute gift for someone who's suffered financially this year, consider buying a stress-reducing product or service. Or perhaps just offer more help around the house.
The Consumer Reports Holiday Shopping Poll found that of the 32 percent of a representative sample of Americans said they were worse off than a year ago. Of those, 30 percent felt more stressed about the holidays than last year, compared with just 17 percent of the entire group polled.
So what might make for a good gift? A stress-reducing massage or yoga DVD might help. Or maybe an offer to help out with chores. Providing a home-cooked "meal of the month" might be appreciated (check our evaluations of cookware here). Or, consider giving an MP3 player loaded with laid-back tunes.
If the person in question is a relative with school-aged children, consider opening or contributing to a 529 college savings plan in the children's names. Depending on the plan you choose, you can invest as little as $25, and add to it in future years. The money grows tax-free, and you may be able to deduct the contribution from your state taxes. If the child doesn't use it, you can later transfer the money to another beneficiary, including yourself, for use in any qualified higher-ed institution.
Of course, there's always cash, the most versatile gift of all.
Like the rest of those surveyed, those feeling financially pinched expect to spend more time with family this season, and favor practical gifts. Check Consumer Reports for lots of practical gift ideas. And don't forget to bring a camera to your holiday gatherings. Your loved ones may feel stressed now, but they'll later appreciate the memories those photos create.
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