Lifestyle

How Should You Budget for the Holidays?

With the holidays approaching, deciding and sticking to a budget isn’t always the easiest. It’s no secret or stretch to know that everyone, no matter who they are, has a budget. It just depends on what they want to set that budget at. Millions of people all around the world are wondering currently how they should budget for the holidays…are you one of them?

How Should You Budget for the Holidays?

First and foremost, don’t stress yourself out! There is still plenty of time to budget for the holidays!

  • Understand your personal finances before thinking about spending any “fun” money.

Truth. You need to be able to cover all your expenses and bills before you should even start to think about what you’re going to be buying for the holidays. If you are struggling now to stay afloat financially, this needs to be taken into consideration. And if you can’t budget for the holidays because of lack of money, so bet it. There’s always next year.

  • Make a list of who you need to buy gifts for.

Heading to the store without a plan is like going to the grocery store when hungry. It’s a bad idea. All that will happen is you’ll end up just buying gifts because you don’t have a plan. And in the long run? You’ll bust your budget for the holidays.

  • Start saving holiday money all year long. 

Instead of waiting until the very end of the year to try to find extra cash, why not start a bit earlier? You can start holding back $10 or $20 from each paycheck at the beginning of the year. That way, once the holiday times roll around, you know that you’ll have enough money for whatever you want to buy.

  • Let family and friends know that you aren’t receiving or giving gifts this year. 

If you find that you just don’t have the budget for the holidays available, take away that awkwardness early and just let everyone know that it’s a “no gift” Christmas. That way, you communicated early and everyone is aware plenty in advance.

Don’t let the stress of the holidays bog you down! It’s super simple to set up a budget for the holidays that will work for you. And after all, when it’s your money and your budget, that’s the bottom line!

You may have the want and the desire to buy everyone gifts, but if your budget doesn’t allow you to do so then you have to be realistic about that approach. Just keep in mind that the holiday season comes around the same time each and every year. If your budget doesn’t’ work out this year, there is always next year to try to get it right!

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I Started out in 1976 trying out to sing in bands but no bands were interested in me. In 1977 I started playing guitar. The individual that was teaching me (who for now will remain anonymous) told me that I would NEVER learn how to play guitar because I had no sense of rhythm. I joined my first band in 1978 called "Dead Center" in Jacksonville, Florida. I played an Aspen guitar, black; a Les Paul copy and in 1981. I gave that guitar to the teacher who said I'd never learn to play. I wrote my first song in 1979 or '80. Over the years I have been in many bands but my passion has been songwriting. I have written well over 100 songs and though the early ones were kind of rough around the edges, I think that most of them could be dusted off and given a new facelift. Today I am still working on my songs. Currently I can play guitar, bass, keyboard, drums, harmonica, and Native American flute. The flutes that I play are ones that I made myself. My guitars are the Epiphone G-400 faded, an Ibanez RG370 DX, an Epiphone G 1275 double neck guitar. My acoustic guitars are an Alvarez 12 string and an old Kay guitar. My drum set is a Peace drum set. I do my recording on a Zoom HD16.
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7 Comments
  • Helen
    October 22, 2018 at 1:04 am

    These are great tips! I totally agree–you should start saving all year for holiday expenses.

  • Leah Ashley
    October 21, 2018 at 5:08 pm

    A few years ago we started using apps like Ibotta as part of our holiday gift fund along with your tip of putting a little away all year long… it saves so much stress!!

  • Amanda
    October 20, 2018 at 11:47 pm

    Great list! I already have a Christmas list made & have already bought a few things.

  • Kelsie Corbett
    October 20, 2018 at 9:21 pm

    I’m so bad at budgeting for the holidays!!! These are all great tips! Thank you!

  • Rachel
    October 20, 2018 at 3:51 pm

    Great tips! I actually keep an eye out for things throughout the year – it always helps if you can spread out the spending!

  • Donnica
    October 20, 2018 at 2:24 pm

    It always helps for me to make a list and early. That way I can grab items throughout the year and when sales happen. These are great tips.

  • Amina Means
    October 19, 2018 at 11:05 pm

    Haha so true!!! I start saving for the holidays when the year start, that way i have everything planned out properly. Love this tips posted here

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