Maybe you keep talking about doing a Christmas budget but just never get around to it. Budgets are a lot of work, right? Well, you can keep it simple, but it is important to set a budget for Christmas and stick to it. Here are some helpful tips that so you can start, and keep a Christmas budget this year.
How to Make and Stick to a Christmas Budget
If you can, take into consideration how much you usually spend on Christmas. Do you usually set a dollar amount per person? Think about whether or not your financial situation is better, worse or the same this year. You will have to decide if you need to reduce your list, or if you have the ability to add people to it.
Make a list of everyone you want to purchase gifts for. Do you buy for your spouse and both of your parents or grandparents? What about nieces and nephews? Have there been any additions to the extended family this year? You may have a special friend you always exchange gifts with. It is better to start out with a list of everyone you can think of, and then pare it down from there.
Once you have a reasonable list, jot down some ideas of what gifts you would like to purchase for each person. If you are giving money or gift cards to people, add the total up and set a limit for each recipient. Get a general idea of what the items on this list will cost and see if it aligns with your overall Christmas budget.
If possible, do most of your shopping online, too. Avoiding the temptations in the mall or other stores is half the holiday budget battle. The smells and sounds of Christmas put you in the mood to spend. If you stick to your list and purchase online you will find it easier to stick to your Christmas budget.
After you finish your shopping, feel free to take a trip to the mall, just to enjoy the sounds and sights of the season. You will be able to relax and feel good knowing that you didn’t overspend.