The Simply Finance Guide To Budgeting For The Christmas Holidays
In case you haven’t heard a Jose Mari Chan song playing in the background yet, Christmas is coming, and we’re making an excel sheet, and we’re checking it twice! The spirit of Christmas may always be in our hearts, but our wallets feel it the most. That’s why we’ve come up with a simple guide to help you with your Christmas shopping this holiday season.
We know you want to give gifts to all the people you love (especially if your love language is gift-giving), but if you’re on a tight budget, it’s best to keep your nice list short and sweet. Take time to sit down and make a list of all the people you value most in your life. If you feel bad about not including certain people in your nice list this year, don’t worry, you’ll have plenty of opportunities to show your love and appreciation beyond Christmas!
To avoid splurging and spending beyond your means, set a spending limit. Keep in mind that your Christmas budget should be the money you have after you set aside money for your savings and your needs. When you’ve set a reasonable spending limit, set a budget per person. You can divide the budget per person equally or allot a bigger budget for the extra special people in your life.
When we say “Christmas isn’t all about giving gifts!” We mean that there are other expenses to account for too! Such as extra grocery expenses for noche buena or travel expenses if you’re going home to the province. These expenses tend to add up so make sure to plan ahead and include them in your budget plan so that you’ll have the time to tweak and adjust.
