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Tips for your Holiday Budget

By December 3, 2019July 17th, 2024No Comments
  • Set some expectations
    • Setting expectations means that you need to be realistic about your finances and what you can afford to spend to accomplish your goals. You’ve heard it before: it’s the thought that counts. Think about how to use your money wisely in a way that you can have the greatest return.
  • Set your limits
    • A budget of X dollars for each of your kids, Y amount for each of their spouses, and Z amount for each grandchild. Solicit suggestions from other family members and stay within your budget for each recipient.
  • Get organized
    • Establish your list of recipients and the amount of money you can afford to spend on each person.
  • Resist the urge to splurge
  • Get creative
    • A nice moderately-priced bottle of wine, a framed drawing that Timmy painted in Kindergarten, or a double batch of your fantastic snickerdoodle cookies would surely bring a smile to most loved ones’ faces. As an alternative, some other type of “sweat equity” gift can mean just as much as something from a department store. This might include a hand-made certificate for free babysitting or cat-sitting services, yard work, and similar tasks that might ease another’s burden. Don’t you think Uncle Carl would prefer a home-cooked dinner prepared by you over a box of candy or another pair of black socks?
  • Tally up all the costs
    • If you need to travel this holiday season, take that into account as you make your budget.
  • Suggest Secret Santa
    • Secret Santa is a great way to save money for a large gathering of friends and/or family.

Set your expectations and your budget, get creative, don’t overdo it, and be merry.