Plan Your Holiday Budget Now

Sure our brains are just cooling down from the summer chaos and back-to-school planning but just around the corner are … The Holidays!

All jokes aside once September hits we will have a steady succession of fall holidays that will scream “Sale!” and tempt us with material delights. The deals, flash sales, and limited-time-only pricing will try to convince us that we need to spend our money ASAP.

But no.

We’re making a budget plan now so we can make good shopping choices, save where we can, and feel good about our purchases. Let’s start!

Save or Spend

Have realistic expectations of what you can spend on holiday gifts. Add together your essential bills, payments, and the funds you want to add to savings, then subtract them from your income. If you have money left over, can you set some of it aside for gifts or will that put you in a difficult financial position? Do not overextend yourself or your finances. If you can place a little bit at a time into your holiday fund, set your goal and build it up!

Are They on the List?

Not everyone can make the cut every year and that’s okay! Gift-giving doesn’t have to be a popularity contest, it’s about sharing the joy. So make a list of those who you can afford to give something to, set a price limit, and stick to it!

Be a Smart Consumer

A little research can go a long way. And since a lot of us have a tiny computer at arm's length most of the time (I’m talking about our cell phones), it’s pretty easy to tappy-tap into a search engine and compare pricing.

Lots of stores will try to give the impression that theirs is the “Biggest Sale Ever” or “You’ll Never Find This Low Pricing Again,” but the shops are all competing. So depending on the item, you just might see that low pricing again … and again. Just take time to find the right deal for you and your budget. Or you can gift items like DIY presents, homemade treats, or even thrifted treasures.

Jingle Bell Budget

Sticking to a budget could light up the holiday season like a certain reindeer’s nose. So keep it positive! It could help you keep your financial goals and spending in check and set you up for a bright new year.