How to Stay Organized With Holiday Spending
How to Stay Organized With Holiday Spending
How to Stay Organized With Holiday Spending
It’s officially that time of year! The holiday season is right around the corner and it’s time to make sure your budget is ready.
With families eager to come together for the holidays in 2021, you may already be looking ahead at what your holiday season will look like. Amidst the work parties, friendsgivings and holiday happy hours, it can be tough to stick to your budget. The one saving grace is that the holiday season happens at the same time every year. You can budget for it!
Plan Ahead: Reduce Stress Where You Can
For most people, budgeting is not exciting. Spending money, however, is very exciting, right?! Well, spending can turn into overspending, which can cause a lot of stress for you and your family if you start to accumulate credit card debt. The good news is that budgeting and spending do go hand in hand. Having a budget does not mean you can’t spend your money.
If you don’t already have a monthly budget, starting one is easy! Write down all your expenses, including savings. It’s helpful to have categories like groceries, utilities, gas and other essentials at the top. Then list the non-essentials at the bottom, like gift giving and toys. Assigning a limit to each category is key to giving yourself spending parameters.
This monthly budget is not something that you write down once and then forget about it. It should be used as a daily tracker to ensure you’re not exceeding spending limits in any category. Just like when your house is clean and organized, when your money is organized, you know where everything is and there’s less clutter in your life. With a budget, you will likely feel less guilty and more confident when spending your money.
Don’t forget! Add a holiday category in your November and December budget. You might want to look back to see how much you spent on gifts, decor, food and other holiday things in the last couple years. This will give you a good idea for what your holiday spending limit should be. Once you have this category in your budget, make sure every holiday purchase is deducted from that limit.
More Tips For Controlling Your Holiday Budget
Write down all the holiday things you think you’ll buy this year and make sure it fits your budget
Consider “Secret Santa” or drawing names with friends or colleagues
Buy one thoughtful gift instead of multiple gifts for family members
Set a budget for holiday decor or make your own decorations
Shop at thrift stores for holiday decor and/or wrapping supplies
Sell toys or household items you no longer use
Buy some items after the holidays (to avoid price markups and shop clearance)
Price-shop on big-ticket gifts or check Facebook Marketplace or OfferUp
Shop sales whenever possible, but don’t buy because something is on sale
Use Honey, Rakuten, or other discount sites when shopping online
Cut back in other areas of your budget (eat out less, don’t shop for yourself, etc.)
Reuse decor and wrapping from last year
Purchase discounted holiday decor after the season to use for next year
Sticking to a budget and not overspending on holiday items is a great way to be more intentional with your time and money. Don’t be afraid to say ‘no’ to a holiday party if it will cause you stress. Let your friends and family know you’re sticking to your budget this year and you might not be able to attend everything. On the flip side, when you are celebrating the season with those you love, make sure to live in the moment and enjoy it to the fullest.
Etsy Download: Christmas Prep and Plan Spreadsheet Download-
If you need additional help creating and sticking to a holiday budget, I encourage you to download my Christmas Prep and Plan Spreadsheet Download where you can set spending limits and document your holiday gift expenses. The downloadable template also includes an event planner for the week before Christmas along with a contacts tab for when you are ready to send out Christmas cards.
I’ve been using this spreadsheet for years—it’s so helpful when the holiday season starts to get busy. I hope these tips help you stay on budget this year and I can’t wait for you to start planning and organizing!
