In our book we outline different ways to plan and budget for different type of breakdowns. Today we will share some tips on how to avoid budget breakdowns at Christmas.
This is list should be broken into groups:
Those we will buy for without question
Those we hope to buy a gift for
Those we may give a small “stocking stuffer” or card to
Donations (church, school, other charity)
Special event clothing (such as family pictures, parties, etc)
Holiday dinners and parties
Special activities or out of town trips
Cards or photos (don’t forget the stamps)
Wrapping supplies
Decorations
Calculate how much you plan to spend on Christmas. Look at how much you spent last year and how much your budget will allow.
Once you have your budget set go back and make any adjustments necessary to meet it.
Start setting aside money early in the year so you aren’t breaking the bank in December to get everything purchased. If you put away $25 a week beginning in June you will have saved $625 before Thanksgiving, plus you can make purchases as you go giving you an opportunity to snag some really great deals!
We figure up how much we need for Christmas and set money aside every month starting in January. This allows you to buy gifts when you find a great deal and helps you enjoy the holidays because you have a plan!
